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Brown Cafe UPS Forum
UPS Retirement Topics
Part-timer going full-time for the pension
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<blockquote data-quote="Mr. Marshall" data-source="post: 5114602" data-attributes="member: 51443"><p>Every plan is different but here the penalties you will take for not hitting 25 or 30 years full time or being of normal retirement age will likely wipe out any increase for the 8 years. Unless you are taking another job or have a wealthy spouse or have maxed out your 401k I don't think it's actually possible to retire at 50 on a part-time pension and not be seriously poor. I think it's just under $2k a month for 30 and out any age which doesn't increase with inflation. Social Security is based on your top 35 years so if you don't work 35 years that takes a hit as well and you can't collect until 62 at the earliest. I don't actually know if part-time pensions receive health care but here you wouldn't until you were 55 even if you were full-time. It's tough to make part-time pension retirement work. I've had these conversations with a long time part-timer who regrets not making the switch years before.</p></blockquote><p></p>
[QUOTE="Mr. Marshall, post: 5114602, member: 51443"] Every plan is different but here the penalties you will take for not hitting 25 or 30 years full time or being of normal retirement age will likely wipe out any increase for the 8 years. Unless you are taking another job or have a wealthy spouse or have maxed out your 401k I don't think it's actually possible to retire at 50 on a part-time pension and not be seriously poor. I think it's just under $2k a month for 30 and out any age which doesn't increase with inflation. Social Security is based on your top 35 years so if you don't work 35 years that takes a hit as well and you can't collect until 62 at the earliest. I don't actually know if part-time pensions receive health care but here you wouldn't until you were 55 even if you were full-time. It's tough to make part-time pension retirement work. I've had these conversations with a long time part-timer who regrets not making the switch years before. [/QUOTE]
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Part-timer going full-time for the pension
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