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Brown Cafe UPS Forum
UPS Retirement Topics
No payout for unused sick pay or vacation upon retirement
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<blockquote data-quote="stealth8" data-source="post: 1039876" data-attributes="member: 1811"><p>I will have to pay $920.00 ($460.00 for me $460.00 for the wife)a month out of my pension to keep the current health plan when I retire. Right now I don't pay anything. This $920.00 will have to be paid until I am eligible for Medicare at age 65. At that time that $920.00 will end and that will start showing up on my check. So it will be like getting a raise of $920.00 monthly on my pension check. </p><p>The question is: Do I take the lump sum 6 week vacation check and pay the taxes on that? Or do I put the money into paying for another 5-6 months of health ins? I am looking into if taxes are taken out if I put it toward extending my health benefits. If I find out they are not, it would save me paying those additional taxes meaning more bang for the buck!</p></blockquote><p></p>
[QUOTE="stealth8, post: 1039876, member: 1811"] I will have to pay $920.00 ($460.00 for me $460.00 for the wife)a month out of my pension to keep the current health plan when I retire. Right now I don't pay anything. This $920.00 will have to be paid until I am eligible for Medicare at age 65. At that time that $920.00 will end and that will start showing up on my check. So it will be like getting a raise of $920.00 monthly on my pension check. The question is: Do I take the lump sum 6 week vacation check and pay the taxes on that? Or do I put the money into paying for another 5-6 months of health ins? I am looking into if taxes are taken out if I put it toward extending my health benefits. If I find out they are not, it would save me paying those additional taxes meaning more bang for the buck! [/QUOTE]
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No payout for unused sick pay or vacation upon retirement
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