how many folks actually retire from ups???
- Thread starter Coldworld
- Start date
raceanoncr
Well-Known Member
UPS Lifer
Well-Known Member
One thing I found since I retired is that most people just can't understand retiring early. They look at you (with horror) as if you just told them you were going to die! The first question is what are you going to do? Do you have another job lined up? I tell them I am busy busy busy (which means I have absolutely nothing to do!) ....but I do it with a big smile on my face. 
2 part time years count as 1 full time year toward years of service for retiring. Pention contribution for PT is pathetic... Like 10 pt years might be as much as 1 ft year
I've never seen a driver quit, get fired, or die in my center. And I can only remember 1 driver who went to the dark side. We've got some lifers who could have retired a long time ago (dudes with almost 40 years in). I know guys who waited 10 years to get on full time here. And it's about a 3 year wait right now. Got 2-3 30+ yaer guys who *might* retire this year.
Some guys talke about retiring every year... But they never leave.
$1,925 for retirement at any age after 35 years of part-time credited service
$1,650 at any age after 30 years of service
$1,375 at age 60 with 25 years of service
$1,125 at any age with 25 years of service
This is for part-time years of service in my jurisdiction.
I don't think 2 part-time years equal 1 full time year. part-timers have to work at least 750 hours a year for 1 credited year of service towards part-time pension. My question is if a part-timer works over the amount required for a FULL-TIME CREDIT does he/she get credited with a full-time year???
Again, these numbers are based on my jurisdiction, they may differ in yours.
One thing I found since I retired is that most people just can't understand retiring early. They look at you (with horror) as if you just told them you were going to die! The first question is what are you going to do? Do you have another job lined up? I tell them I am busy busy busy (which means I have absolutely nothing to do!) ....but I do it with a big smile on my face.
You are so right, I can't understand for the life of me someone working 30 years and NOT wanting to retire, to me it just doesn't make sense. I can't wait for my retirement so I can do absolutely nothing all day... Enjoy your retirement..
brownrodster
Well-Known Member
I was talking about number of years of service in before you can retire. WE have a formula which is your years of service plus your age add up to a certain number before you can retire with full benefits. In this formula 2 part time years equal 1 year.
longlunchguy
Runnin on Empty
Long lunch guy, please pray to the weather gods in Florida, We are flying in on Friday, going on a cruise on Saturday.Can I have your rep points
I am soooo jealous
UPS Lifer
Well-Known Member
As far as pension allocation goes for Teamsters, I believe that they apply the hours worked toward your pension. If you work full time hours as a PT employee you will get credited for FT .... check with your local union pension administration - your BA should be able to help with this.
I think this is why UPS frowns on PT working FT hours because UPS pays for FT benefits for that pay period.
I think this is why UPS frowns on PT working FT hours because UPS pays for FT benefits for that pay period.
rod
Retired 22 years
Doing nothing all day is hard!- You never know when your done
longlunchguy
Runnin on Empty
The weather gods are smiling on you.
Long range forcast for South Fla. this weekend... sunny high of 83 lows around 70 . Mattwtrs, come on down! (Tooner, do you believe it's gonna be 80 degrees all week!)
IWorkAsDirected
Outa browns on 04/30/09
I will retire April 30, 2009. It's really hard to get to that point, especially for an older female. I started at age 37 and with the way things are going now in the company I doubt I could do it. I'm so glad I did, and I won't stay 1 day longer. It was a little bit tempting after the new contract, they are adding to our Western States Pension contribution with the new contract, in fact the BA said if a driver stays for all 5 years of the contract it would add $1900 a month to their pension. Some are thinking of staying, I thought about staying a LITTLE longer for about 5 seconds. Told my center manager some were planning to stay longer because of this, she said "Get out just as soon as you can"
I'm happy that the new contract will add about $300 a month to my pension, and also a new perk for us is all the cash out money like vacation days will now also net us a check a retirement for the amount that would have been paid into the fund if we had used those days. I am leaving the end of the month of my senority so I will be cashing out 6 weeks of vacation pay plus right now (knock on wood) I also have 45 sick days.
BTW don't let anyone in UPS tell you you can't cash out vacation days before your senority date if you retire. Luckily my senority date comes out just right for my retirement, but if you were to retire say, after your birthday instead (the way it could work out for those in Western States) They may tell you you have not earned any vacation until your senority date. NOT TRUE you acrue those hours 1/12 every month and you CAN cash them out, but you may have to fight for them. Also this may work out as an option if you were to retire early
I'm happy that the new contract will add about $300 a month to my pension, and also a new perk for us is all the cash out money like vacation days will now also net us a check a retirement for the amount that would have been paid into the fund if we had used those days. I am leaving the end of the month of my senority so I will be cashing out 6 weeks of vacation pay plus right now (knock on wood) I also have 45 sick days.
BTW don't let anyone in UPS tell you you can't cash out vacation days before your senority date if you retire. Luckily my senority date comes out just right for my retirement, but if you were to retire say, after your birthday instead (the way it could work out for those in Western States) They may tell you you have not earned any vacation until your senority date. NOT TRUE you acrue those hours 1/12 every month and you CAN cash them out, but you may have to fight for them. Also this may work out as an option if you were to retire early
