Part Time Retirement

Discussion in 'UPS Retirement Topics' started by woldring, Sep 5, 2013.

  1. woldring

    woldring New Member

    I have 36 years of part time service all meeting the required hours needed and 55 years old.

    Can I retire now and get the benefits of the new Contract or do I have to wait until next year or any magical date?
  2. InsideUPS

    InsideUPS Active Member

    Congratulations......You need to wait until Jan. 1, 2014 to qualify for the $2100/month pension. If you retire now, you would receive $1925 as you may know. Also, you will receive the TeamCare Retire coverage for $200/$400 per month (individual/family).

  3. slackadjuster

    slackadjuster New Member

    "InsideUPS;Congratulations......You need to wait until Jan. 1, 2014 to qualify for the $2100/month pension. If you retire now, you would receive $1925 as you may know. Also, you will receive the TeamCare Retire coverage for $200/$400 per month (individual/family)."

    ​This is my first post after lurking here off and on since inception! It's been a hoot at times. I have to ask this as I really need to know! First, congratulations to worldring. I too want to retire as soon as practically possible with the improved pension and dental/vision. My supplement is the Southern Region. My question to InsideUPS...If ones retirement date is 1/1/14; will January 2014 pension generate and fully pay out?

    It would appear that 1/1/14 would notch the required date for the newest contractual benefits, plus New Years Eve and New Years Day holiday pay, 58 hours option 2 pay and one personal holiday pay as these benefits require a New Year punch also.

    I have conflicting answers to the 01/14 pension payment. I've been told that any hours worked (payed) in the month of January would eliminate that months pension payment. Also been told if the retirement date is 1/1/14, all the mentioned benefits plus a full January pension payment would payout. I have submitted the estimate form to UPS retirement dept for a new update and still waiting for their reply. The replies from this dept. over the phone vary and leave me skeptical in choosing the exact date needed for retirement application.
    The practicality of this process involves walking as soon as possible while maximizing my earned benefits and leaving little to nothing on the table.

    Any advice and guidance will be considered and appreciated.
  4. PT Car Washer

    PT Car Washer Well-Known Member

    Why do you want to give up a $30.00 an hour PT job. Work 20 hours a week for $30 K a year with full health care and 7 weeks paid vacation. You must have a gravy job after 36 years. I know I do.
  5. slackadjuster

    slackadjuster New Member

    You definitely have a point. My response was aimed more at InsideUPS or someone that has insight into the retirement process & obtaining the improved pension/dental vision as early as possible. I'm full time feeder & want a different life without the constraints of the obligatory time clock of 40+ hours weekly of my time. I have other quests that need explored! Also would like my sleep patterns to improve and not have to switch from days to nights on weekends & then back to days again. It's not normal. Has to be more to life than a defined schedule you must continually be aware of and adhere to; and that restrains you from other interests. Not bitter, It's been rewarding. I've been planning and ready; just waiting for this new contract to take effect. Enjoy the gravy!
  6. trickpony1

    trickpony1 Well-Known Member

    You didn't mention what region you are in. Would it be Central States?
    After talking to the VP of our Local, it's my understanding that you need to work 3 days of 2014.
    If I retire in 2014, I'll work a couple of weeks just to be sure and to eliminate the chance of a letter/phone call saying, "....oh but Mr. didn't work enough days into 2014 to qualify for the 2014 benefits.".
    When it comes to a major life decision like retirement, I don't trust anyone.
  7. purplesky

    purplesky Active Member

    Are you going to take your 7 weeks of vacation in January and Feb. before you retire? Seems like thats a cool way to go out.
  8. PT Car Washer

    PT Car Washer Well-Known Member

    May want to look into the years before you were 21 and see if they count.
  9. downtime8763

    downtime8763 Member

    Yes it is a good way to go and There is life outside of the Brown building !!!!! :)
  10. slackadjuster

    slackadjuster New Member

    Hope that these new retiree benefits will be retroactive back to unspecified eligibility date after the contract ratification procedure is completed.

    I've worked in Central States, Florida region. I sold back 6 vacation weeks plus the 58 hours of option pay. Leaves me with just one personal holiday. I could retire now but the continuing struggles to ratify the 2013-2018 contract has hindered my plan.

    My objective is to qualify for the additional $200/ month pension + dental insurance + vision insurance and also qualify & start receiving monthly pension for January 2014. I couldn't use (during peak) or need my vacations as a time qualifier, so I cashed in. Why run off the vacation for time off when you also have time served for old pension and maybe the new one? I desire the cash from both sources (vacation & pension payment).

    I just need to know the prerequisites (hours worked, holiday pay, a punch, etc.) to be eligible for the new pension benefits, and hope it requires little time so not to threaten January's monthly pension payment.
  11. rod

    rod retired and happy

    I know nothing about how the "new UPS" (or the Union for that matter) operates now (just ask upstate) but I do know enough to suggest contacting the Union and getting what is told to you in writing before you pull the plug. Don't totally rely on the BC for your retirement info. Don't be the one who retires one day too early to get full bennies just because so and so said it would be ok.
  12. slackadjuster

    slackadjuster New Member

    Thanks Rod. My desire to retire is not in question. I have planned for this, but never expected the termination date to be conflicted with acquiring real time and new benefits. However, as you have stated, there is plenty of advice out there and I wouldn't only use suggestions from BC. I would ponder them though! Plan to ride my FLSTS a lot more!!!
  13. brownmonster

    brownmonster Man of Great Wisdom

    Sadly you might have to endure another horrific Florida winter.
  14. oldngray

    oldngray nowhere special

    I couldn't get a clear answer as to when my exact retirement date should be until I started the process by sending paperwork to Atlanta and then finally found out I needed to work 2 months longer to get another year of credit. So I hung around for 2 months longer to get a little larger pension. Worth it to me. It would have been much easier if the (correct) information was easily obtained.
  15. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    Every month longer you work gets you a little bit more per month and another month closer to death.
  16. pretender

    pretender Active Member

    If you had said that you were in a northern state, I could appreciate the fact that you do not want to drive one more day than necessary in January. Given the new changes, and the delays in the passage of the supplements, I would not take any chances, and would work at least a couple more months. Let someone else go first... One thing I can say for sure is that if you work even one day into January, your first pension check would not be issued until February. I agree with your decision to cash out your vacation, but depending on your seniority date, you MAY have to pay some of that money back. The proper procedure is to retire first, and then UPS will issue you a prorated check for vacation pay.

    However, if you are still set on retiring in January, the window of opportunity is closing to submit your paperwork. It just seems to be a bit rushed--You planned all this time for retirement, so it would be a shame to mess it up with a hasty decision.
  17. pretender

    pretender Active Member

    I still can't get over the fact that it seemed as though I was the first person to ever retire from UPS.
  18. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    ​They thought you were just pretending.
  19. oldngray

    oldngray nowhere special

    EVERY person is treated like they are the first person. And when I tried to get help from union they acted like I was the first person to ever complain. And you don't get more per month. Its either a whole year's credit or nothing, based on calendar year and not your seniority date. Here I needed to work until mid Sept to get credit for the whole year. And you should retire on 1st of month, not middle of month so I worked until Oct 1.
  20. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    With a UPS retirement, it is calculated per month and it is best to retire on the last day of the month.