part time sup retirement

Discussion in 'UPS Retirement Topics' started by browntrousers, Feb 28, 2008.

  1. browntrousers

    browntrousers New Member

    Not sure if this is old ground but I haven't seen any information here. I got a letter from UPS telling me that due to young people overwhelmingly wanting portable retirement plans that everyone born after 1979 would be kicked out of the retirement plan. I am being compensated with a raise from 3.0% to 3.5% matching in my 401k. Somehow I keep what I already have vested (6 years) but the way i read it sounds like a hose job. Anyone have any insights?
    I'd also like to relate a funny story. All of my P/T sup co-workers and I received a letter from UPs warning us that someone within the company installed a malicious program that successfully downloaded information from our timecard program (not the HTM that hourly employees use). I have no idea why the PTRS has my address SS# etc... The letter was sent with instruction on how to lock our credit in case the culprit was after information for identity fraud. The punchline is that the letter was sent midway last year, and UPS finished investigation in 2005! :censored2::censored2::censored2:! 2.5 years later you are worried about my identity!
    Thanks for letting me vent, any information you have will be helpful to me and hopefully some other P/T sups.
  2. bones

    bones Member

    I think it is a hose job, but they do increase your 401 match and from my understanding they will deposit (probably monthly) money into a portable retirement fund for you. I don't have the formula but believe it was somewhere around 5% (mayby someone from hr or finance can verify this). When I looked at it I thought it was an overall lower dollar amount to your retirement, but, on the bright side it is portable. I am in the same position alot of f/t management is in, leave before your 55 and suffer drastic reductions in your benifit. I wish my retirement was portable. Mayby someone here can give you some more concrete details, if not ask someone from HR, they should be able to give you the details.