Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Pension amount
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="PT Stewie" data-source="post: 2501487" data-attributes="member: 12889"><p><strong>PT Pension</strong></p><p>benefits for part-time employees not covered by Teamster Pension</p><p></p><p></p><p>Plans as follows: The benefit formula in the UPS Pension Plan for</p><p></p><p>current or future part-time employees who are participants will be</p><p></p><p>increased effective August 1, 2004 to fifty-five dollars ($55.00) for</p><p></p><p>each year of past and future Credited Service to a maximum of thirty-</p><p></p><p>five (35) years of Credited Service. The benefit formula in the</p><p></p><p>UPS Pension Plan for current or future part-time employees who</p><p></p><p>are participants will be increased solely for purposes of the monthly</p><p></p><p>accrued benefit, effective August 1, 2008 to sixty dollars ($60.00)</p><p></p><p>for each year of future Credited Service to a maximum of 35 years</p><p></p><p>of Credited Service. If a participant is in Covered Employment on</p><p></p><p>August 1, 2008, he shall receive the sixty dollars ($60.00) benefit</p><p></p><p>formula for the entire 2008 plan year.</p><p></p><p>The total monthly service pension benefit will be equal to the following</p><p></p><p>provided the employee meets the Credited Service requirement.</p><p></p><p>- 85 -</p><p></p><p><strong>ARTICLE 34</strong></p><p><strong></strong></p><p>$2,100 for retirement at any age after 35 years of part-time Credited</p><p></p><p>Service</p><p></p><p>$1,800 for retirement at any age after 30 years of part-time Credited</p><p></p><p>Service</p><p></p><p>$1,500 for retirement at age 60 with 25 years of part-time Credited</p><p></p><p>Service</p><p></p><p>$1,250 for retirement at any age with 25 years of part-time Credited</p><p></p><p>Service</p><p></p><p>(based on $50.00 per year of Credited Service)</p><p></p><p>(2) Part-time employees will receive one (1) year of Credited</p><p></p><p>Service for seven hundred fifty (750) or more paid hours. (Six (6)</p><p></p><p>months of part-time Credited Service will be granted for three hundred</p><p></p><p>seventy-five (375) to five hundred (500) hours worked in a calendar</p><p></p><p>year, and nine (9) months of part-time Credited Service will</p><p></p><p>be granted for five hundred one (501) to seven hundred forty-nine</p><p></p><p>(749) hours worked in a calendar year.) This paragraph will also be</p><p></p><p>applied to determine Credited Service for all full-time employees</p><p></p><p>on the payroll on August 1, 2002 who were formerly participants in</p><p></p><p>the UPS Pension Plan.</p></blockquote><p></p>
[QUOTE="PT Stewie, post: 2501487, member: 12889"] [B]PT Pension[/B] benefits for part-time employees not covered by Teamster Pension Plans as follows: The benefit formula in the UPS Pension Plan for current or future part-time employees who are participants will be increased effective August 1, 2004 to fifty-five dollars ($55.00) for each year of past and future Credited Service to a maximum of thirty- five (35) years of Credited Service. The benefit formula in the UPS Pension Plan for current or future part-time employees who are participants will be increased solely for purposes of the monthly accrued benefit, effective August 1, 2008 to sixty dollars ($60.00) for each year of future Credited Service to a maximum of 35 years of Credited Service. If a participant is in Covered Employment on August 1, 2008, he shall receive the sixty dollars ($60.00) benefit formula for the entire 2008 plan year. The total monthly service pension benefit will be equal to the following provided the employee meets the Credited Service requirement. - 85 - [B]ARTICLE 34 [/B] $2,100 for retirement at any age after 35 years of part-time Credited Service $1,800 for retirement at any age after 30 years of part-time Credited Service $1,500 for retirement at age 60 with 25 years of part-time Credited Service $1,250 for retirement at any age with 25 years of part-time Credited Service (based on $50.00 per year of Credited Service) (2) Part-time employees will receive one (1) year of Credited Service for seven hundred fifty (750) or more paid hours. (Six (6) months of part-time Credited Service will be granted for three hundred seventy-five (375) to five hundred (500) hours worked in a calendar year, and nine (9) months of part-time Credited Service will be granted for five hundred one (501) to seven hundred forty-nine (749) hours worked in a calendar year.) This paragraph will also be applied to determine Credited Service for all full-time employees on the payroll on August 1, 2002 who were formerly participants in the UPS Pension Plan. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Pension amount
Top