Go to
http://tdu.org/pension-comparison none of this is totally precise but a good idea
The New UPS Pension Plan
$2,500 25-at-57
$3,000 30-and-out
The accrual rises to just $158.50 by the end of the contract.
Pays the lowest pension benefits of any fund covering UPS Teamsters.
Covers 44,000 UPS Teamsters in the Carolinas and Central and Southern Regions—the single largest group of UPS Teamsters covered by any plan.
Western Conference (covers 11 Western States)
“80-and-out” for UPS, freight, and many others (age plus years of service).
A UPS worker, for example, age 52 with 28 years service, can retire with approximately $4,000 presently. The monthly accrual for 2010, at 1.2% of annual employer contribution, is about $198.
New England
Baseline early retirement: $2,500 for 25-at-57. $3,500 for 30 and out at 57. $150 for each additional year of service. But annual accrual has risen to the point that Teamsters under national agreements and others with a comparable contribution level can retire early at 30 years with approx. $4,000 per month. Beginning Oct. 2010, a supplement of $1,000 per month will be paid between the ages of 62 and 65, for those who wait till age 62 to retire.
Washington, D.C. (Local 639)
$5,000 (approximately) at present for 30-and-out at any age. The accrual for this year is $445, so pensions will rise quite a bit higher during the life of the contract.
New York State
$5,500 for 30 and out at any age. (Starting in 2011, there will be an age requirement, such as 30-at-55 or 30-at-57 to get the full $5,500.)
Virginia (Joint Council 83)
$2,500 for 25-and-out.
$3,500 for 30-and-out.
$4,000 for 35-and-out.
West Virginia (Locals 175 and 505)
$3,000 for 30-and-out.
$4,250 for 35-and-out.
Philadelphia Area
$3,590 for 30-and-out. This will increase by $131 per year, thus will be $4,248 per month by 2013.
New Jersey (Local 177)
$3,700 for 25-at-55.
$3,700 for 30-and-out at any age.
New York City (Local 804)
$3,100 for 25-and-out at any age.
$3,600 for 25-at-55, or 30-and-out at any age.
Chicago Area (Local 705)
$2,500 for 25-and-out, with lump sum of $25,000; $3,000 for 30-and-out, with $30,000 lump sum; $3,500 for 35-and-out, with $35,000 lump sum. Option to reject lump sum and add $8 per year of service to pension (e.g. $3,240 for 30-and-out).
Illinois and Indiana (Local 710 Plan)
$2,800 for 25-and-out, $3,300 for 30-and-out, $3,800 for 35-and-out.
Central Pennsylvania
$3,100 for 25 years at age 57. Many Teamsters can retire with considerably more, depending on age and service. There is option of taking some of pension in lump-sum equivalent, which a majority of retirees choose.
Western Pennsylvania
$3,500 for 30-and-out. However, the annual accrual is presently nearly $300, and Teamsters can retire with approximately $4,000 presently. The accrual may well be reduced in the near future.
Missouri (Local 688)
$2,600 for 25-at-57; $3,100 for 30-and-out, $3,200 for 30-at-57; $100 extra for each of age beyond 61 and also for each year of service (eg $4,000 for 35-at-64).
Baltimore (Local 355)
$4,200 for 30 years credit at age 50 or more. The accrual has been cut, so this amount will be lesser for younger Teamsters, unless the accrual rate is raised back up.
Hagerstown, Maryland (Local 992)
$3,000 for 25-at-57.
$3,600 for 30-and-out.
$4,200 for 35-and-out.
Wisconsin (Local 344)
$2,000 for 25-and-out at any age; $3,000 for 30-and-out; $101 more for each additional year.
Central States
(covers Carolinas, the South and much of the Central Region, but no longer any active UPS Teamsters)
Teamsters in the top class (including freight, carhaul and others) with 30 years can presently retire with $3,200 at age 62, or $2,950 at age 57. 25-at-57 is presently $2,450. The accrual will reach $196 per year by 2012, so Central States pensions even for early retirees will be greater than the UPS Plan.
