Part-time retirement

Discussion in 'UPS Union Issues' started by Brownman6, Aug 28, 2015.

  1. Brownman6

    Brownman6 New Member

    Been with the company many years in the central states region, Is is it true I can retire part time after 25 years of service at any age if so what benefits do I get to keep, I am aware that I need 750 hours per credit year I started when I was 19 years old now I'm pushing 40 and now I'm ready to go in the next five years.
     
  2. PiedmontSteward

    PiedmontSteward RTW-4-Less

    25 years of service at any age for part-timers. You have to wait until age 55 in order to purchase retiree health insurance.

    I'll inbox you some documents you can use that'll be of help.
     
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  3. Brownman6

    Brownman6 New Member

  4. Rain Shield

    Rain Shield Member

    Double check the language. I could be wrong, but I understand it to be 25 years at any age, but with the kicker that your actual pension does not accrue until the age of 21 years old.

    This could be very important in that with the op starting at age 19 he might need 27 years to qualify for the 25 and out at any age.

    I know it is very confusing. It also depends on what time of year be turned 21. If before July 1st full year credit. If on or after July 1st would not have a full year.

    Very confusing. My Birthday is before July 1st so I got a full year credit at age 21. I started at 20 years of age and did not make the hours that first year, so that might be the reason I have to wait until the age of 46.
     
  5. oldngray

    oldngray nowhere special

    It depends on the local language. A few places still have 25 and out at any age but not many. The language used to say years before 21 didn't count but I think that changed. Again, check your contract language.
     
  6. BigUnionGuy

    BigUnionGuy Got the T-Shirt


    The best thing to do, is talk with your Local Union.


    The part-time pension language is a supplemental contract issue.

    But, shouldn't vary between the different supplements.

    In addition to Article 34 of the Master.


    There was an addition to the Central Region language in 2002.


    "(4) The UPS Pension Plan will be governed by the terms of the Plan document.

    (5) Effective August 1, 2002, the Employer will grant additional years of Credited Service in accordance with the terms of the Plan to all full-time and part-time employees on the payroll on August 1, 2002, who worked for UPS after they were twenty-one (21) but were denied Credited Service solely because the UPS Pension Plan required that an employee be age twenty-five (25) or older to participate in the UPS Pension Plan."

    http://teamster.org/sites/teamster.org/files/06242014_77983_central_region-final.pdf


    Discussing Pension issues are a "sticky wicket".

    Because (well intended) wrong information.... can affect people's future.

    Everyone would be best served by performing their own "due diligence" in seeking answers.



    -Bug-
     
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    Last edited: Aug 28, 2015
  7. Bubblehead

    Bubblehead My Senior Picture

    What he said.
    It's really just that simple.
    As a steward, I have come realize that no two retirement scenarios are the same.

    ~Bbbl~
     
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  8. Spongebob1

    Spongebob1 Active Member

    I've been following BC for years, and the one thing that stands out is that YOU, Pkg, Bubble, and a couple of others has always been helpful to the newbies and the "oldies", I know I've learned a few things from you over the years, and THANKS,
     
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  9. I'm not as helpful.
     
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  10. Bubblehead

    Bubblehead My Senior Picture

    ...but you are consistent.
     
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  11. I will almost take that as a compliment.
     
  12. Spongebob1

    Spongebob1 Active Member

    Kind of sounds like one,.....
     
  13. I'll take it. And the last beer too!
     
  14. Bubblehead

    Bubblehead My Senior Picture

    @PiedmontSteward is a beast, I'm proud to know him.
     
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  15. Bubblehead

    Bubblehead My Senior Picture

     
  16. Spongebob1

    Spongebob1 Active Member

    Got it,.......long day and tired,...
     
  17. PiedmontSteward

    PiedmontSteward RTW-4-Less

    This is a very valid concern and one that applies to me, as I started working at UPS a few months before I turned 18.

    My understanding is that an employee cannot become vested in the plan before 21 years of age, meaning someone working there from age 17 to 21 that then quits would not have any vested pension credit. This was confirmed in my case via an ERISA request I sent to UPS PT Retirement and they have me on the books as having accredited years before I was 21. For the record, I recognize it's entirely possible that the corporate retirement department sent me :censored2:ed up information.

    While pension issues are incredibly complicated, I'm fairly confident that's the correct interpretation.


    P.S. Thanks for all the love @Spongebob1 and @Bubblehead, I feel like I actually deserve this beer tonight.

    :blushing2:
     
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  18. PT Stewie

    PT Stewie "Big Fella"

    I believe in the master they gave the years service credit to time worked prior to 21 years of age two contracts ago in 2008.
     
  19. I did see something like that. We keep on accepting give backs. Especially to the part timers
     
  20. ski or die

    ski or die Ski or Die

    Definitely check with your own Local. Every Local has a different supplement which governs retirement. My Local was 25 years service and at least 50 years old to receive pension and insurance. My Local also had 30 years service and any age to receive pension and insurance. So if you were 18 years old and completed 30 years, you could leave at 48. I was 19 when I started and was able to leave at 49. But every Local Supplement is different. Make sure you check with yours. The answers you receive here probably only pertain to that person's Local and will be different than yours. You don't want to bail and find out you are only eligible for pension and no insurance. And unable to return to work to pick up the time needed to receive the insurance.