Discussion in 'UPS Retirement Topics' started by player4hire$$$, Jul 1, 2015.

  1. player4hire$$$

    player4hire$$$ New Member

    Hey Brothers, I was hired in July 90 when i was 19 i was P/T 3 years & currently F/T 22 years i will have 25 years in next week i called the pension office inquiring about the years i have remaining until retirement & they advised me 5 years still. I know i'm under the peer 80 contract & from how i understand it once your years of age and years with ups equals 80 you are eligible to retire, So i recently received my latest pension statement & it stated i am eligable to get $40,358 if i were to quit ups today. The problem is i wouldn't get the money for 10 years, But if i work another 5 years i will be eligible for around $51,000 & meet all the Peer 80 requirements. My question is i could easily live on 40K being single with no family & debt free & 500K in my 401k theirs just no reason to continue working anymore. If ups would offer 25 year employees with a 25 year UNREDUCED pension i would take full advantage of it. Or i would hope in the '18 Teamster ups contract 25 year employees would at least have the option of early retirement @ 25 years. I think this would also be good for ups to because from what i've seen once you get 25 in workers comp claims increase substantially.
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Your pension fund is not a UPS fund.
  3. olroadbeech

    olroadbeech Happy Verified UPSer

    do you have a question or are you just having a wishful thought? you cant change the rules . I was in your shoes 5 years ago. I could wait 10 years if I quit since I was vested or put the 5 years in.

    I decided to put the 5 years in and they went so quickly I couldn't believe it. I retired yesterday and got my first check which is about 700 a month more than if I had waited the 10 years. this will be for the rest of my life.

    you are only what? 44 or 45? unless you have a great fun job lined up where you make a ton of money I would stay. in the last 5 years my 401k nearly doubled. all my retirement accounts now are almost at a million. ( I know that can change quickly overnite with this stock market )

    plus if you leave now and try to live on your 401k you will have to pay taxes and early withdrawal penalties.

    your pay here is X amount but you have to factor in healthcare and pension benefits too increasing.

    Im just glad I stuck it out. good luck.
  4. player4hire$$$

    player4hire$$$ New Member

    Yeah i'm 44 going on to 65 L.M.A.O !! Will be 45 in Jan. Thanks for the advice. Glad your career worked. It would be a smarter move to stick around 5 more. Thanks!!
  5. Areyoukiddinme

    Areyoukiddinme best 2 weeks ever

    take as many rto's as you can and stick around til you hit peer..
  6. brownmonster

    brownmonster Man of Great Wisdom

    There's a better change of pensions going to 35 and out rather than 25 and out. These early retirements are unsustainable.
  7. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    That's how pensions go broke.