Pension Offer is B $%#@

[burrheadd]

i just try to log into the site !!!!!! it just don't come up i called the ups service ….well they told me it work .well i have try this site about 10 times still don't work ..what is the deal with this site?

Whoa!! There djmello take a step back and MELLO out a bit

 

[djmello mel]

so what is it ? how do i get to this site?

 

[burrheadd]

so what is it ? how do i get to this site?

Not a clue!

 

[Namoric]

The current offer is ONLY for employees no longer with the company AND part or all of their pension is with the company. Central states is not covered by this offer.

The correct web site link: UPS Special Pension Payment Offer

 

[UpstateNYUPSer(Ret)]

The current offer is ONLY for employees no longer with the company AND part or all of their pension is with the company. Central states is not covered by this offer.

The correct web site link: UPS Special Pension Payment Offer

Central States was already bailed out once. Buying them out now would make zero sense.

 

[Clifton Williams]

I

i just try to log into the site !!!!!! it just don't come up i called the ups service ….well they told me it work .well i have try this site about 10 times still don't work ..what is the deal with this site?

I know it's late but that is the site but the / should be \ I made that mistake

 

[Xexys]

Sure does matter where you work and which local you're out of. I collect $45,696.00/year. I feel sorry for the central states and all those locals that let your Union leaders rake your ass over the coals.

 

[rod]

Sure does matter where you work and which local you're out of. I collect $45,696.00/year. I feel sorry for the central states and all those locals that let your Union leaders rake your ass over the coals.

a paltry $36,000 a year here and that won't even continue

 

[35years]

Sure does matter where you work and which local you're out of. I collect $45,696.00/year. I feel sorry for the central states and all those locals that let your Union leaders rake your ass over the coals.

Central States/New UPS-teamster plan here.
I'll be collecting over $60,000/year.
35 and out only pays $3,500 a month.

2 kinds of pensions available, more years in = bigger pension.

 

[rod]

Central States/New UPS-teamster plan here.
I'll be collecting over $60,000/year.
35 and out only pays $3,500 a month.

2 kinds of pensions available, more years in = bigger pension.

How may friend'in years do you plan on working---70?

 

[35years]

How may friend'in years do you plan on working---70?

Retire at 62 years old.
Started UPS early.
Started a family late.

 

[rod]

Retire at 62 years old.
Started UPS early.
Started a family late.

Over 60k a year retirement? I have a hard time believing that.

 

[35years]

Over 60k a year retirement? I have a hard time believing that.

So did I until I checked my pension calculator.
Over $5,000 a month at age 62.
Over $66,000 a year if I wait till I am 65 to retire.
I will also receive a small monthly check for part time years...$240.

Each year longer that you work, the larger the monthly benefit becomes.
This is in contrast to the "30, or 35 and out" at any age benefit.
I have paid for it in my joints, however.

Total at 65 would be $69,400.
Social Security in today's dollars estimated at $28,650
$98,050 plus my wife's Social security.
Plus hundreds of thousands in the 401Ks
I will be making substantially more in retirement than now, if the pension and SS don't go belly up. (Not sure at all about that)

 

[Inthegame]

Over 60k a year retirement? I have a hard time believing that.

NM Art 34 pg 90.
A 30 yr old starting full time in Jan 2018 (in the Jointly Trusteed UPS/IBT Full Time Pension Fund) and working the required minimum hours to receive full pension credits will have a annual pension of $73,500 ($6,125 monthly) at age 65 if no future accrual adjustments are made.

 

[oldupsman]

NM Art 34 pg 90.
A 30 yr old starting full time in Jan 2018 (in the Jointly Trusteed UPS/IBT Full Time Pension Fund) and working the required minimum hours to receive full pension credits will have a annual pension of $73,500 ($6,125 monthly) at age 65 if no future accrual adjustments are made.

I believe the key phrase there is. "if no future accrual adjustments are made." Years ago during one of our local
pension struggles they put up a chart telling the young guys that their pension in the future would be $8000 a month
after 30 years. I used to just laugh and tell them it wouldn't happen. Oh no they said it will. After about a year they took
the chart down. Now the max at 30 and out is $4000 a month. And there's talk about reducing that.

 

[oldupsman]

So did I until I checked my pension calculator.
Over $5,000 a month at age 62.
Over $66,000 a year if I wait till I am 65 to retire.
I will also receive a small monthly check for part time years...$240.

Each year longer that you work, the larger the monthly benefit becomes.
This is in contrast to the "30, or 35 and out" at any age benefit.
I have paid for it in my joints, however.

Total at 65 would be $69,400.
Social Security in today's dollars estimated at $28,650
$98,050 plus my wife's Social security.
Plus hundreds of thousands in the 401Ks
I will be making substantially more in retirement than now, if the pension and SS don't go belly up. (Not sure at all about that)

I don't care what they tell you now. I promise you'll never see a $66,000 a year pension. Take it from
someone who has heard all these unrealistic numbers before. Just not gonna happen.

 

[Inthegame]

I believe the key phrase there is. "if no future accrual adjustments are made." Years ago during one of our local
pension struggles they put up a chart telling the young guys that their pension in the future would be $8000 a month
after 30 years. I used to just laugh and tell them it wouldn't happen. Oh no they said it will. After about a year they took
the chart down. Now the max at 30 and out is $4000 a month. And there's talk about reducing that.

And the key phrase there is "30 and out". Few plans anticipated the "and out" demand members put forth. Almost every pension plan started with an age 65 requirement for an unreduced benefit. A 30 year payout of $4000 per month from age 50 through 80 is exactly the same outlay as a $8000 per month payout from 65 to 80, but instead of investible principle for those 15 years, the funds are paying out benefits. Adding "early retirees" is an unplanned stress that has put some plans in tough shape.

If I told guys they'd get a $4000 per month pension thirty years ago they'd say what you just said. And yet many are getting more than $4000 per month.

But I suppose with members continuing to support political candidates that seek to destroy unions, you might be right. With no one left to negotiate future contracts, you'll get the crumbs the corporate masters allow.

 

[rod]

So did I until I checked my pension calculator.
Over $5,000 a month at age 62.
Over $66,000 a year if I wait till I am 65 to retire.
I will also receive a small monthly check for part time years...$240.

Each year longer that you work, the larger the monthly benefit becomes.
This is in contrast to the "30, or 35 and out" at any age benefit.
I have paid for it in my joints, however.

Total at 65 would be $69,400.
Social Security in today's dollars estimated at $28,650
$98,050 plus my wife's Social security.
Plus hundreds of thousands in the 401Ks
I will be making substantially more in retirement than now, if the pension and SS don't go belly up. (Not sure at all about that)

I wish you all the luck in the world actually getting a $69,400 pension. It Seems to me Upstate had bragged for years that he was going to get $5,500 a month. That seems to have backfired.

 

[oldupsman]

And the key phrase there is "30 and out". Few plans anticipated the "and out" demand members put forth. Almost every pension plan started with an age 65 requirement for an unreduced benefit. A 30 year payout of $4000 per month from age 50 through 80 is exactly the same outlay as a $8000 per month payout from 65 to 80, but instead of investible principle for those 15 years, the funds are paying out benefits. Adding "early retirees" is an unplanned stress that has put some plans in tough shape.

If I told guys they'd get a $4000 per month pension thirty years ago they'd say what you just said. And yet many are getting more than $4000 per month.

But I suppose with members continuing to support political candidates that seek to destroy unions, you might be right. With no one left to negotiate future contracts, you'll get the crumbs the corporate masters allow.

In my local 30 and out is no longer. You must be at least 55 to retire and there's talk of that being raised to 58.
I think you'll be hard pressed to find many plans at $4000 a month anymore. And those that are are facing reductions.

 

[35years]

In my local 30 and out is no longer. You must be at least 55 to retire and there's talk of that being raised to 58.
I think you'll be hard pressed to find many plans at $4000 a month anymore. And those that are are facing reductions.

Well I think approximately 1 out of every 5 UPS teamsters in the US is covered by the UPS/IBT plan that replaced the central states plan.
This plan is over 100% funded, and even if central states goes completely under, UPS will cover the benefit.
Unless a retiring driver takes the Service pension option (30/35 and out), $4,000 would be on the low end.
Depends on how many years in the pension fund.