Pension Plans

Discussion in 'UPS Discussions' started by bailey2227, Aug 9, 2008.

  1. bailey2227

    bailey2227 New Member

    Hi, I am wondering what pension plan I fall under if I am located in Ohio. I keep reading about 3 different pension plans. Then I am reading about the Central States Pension plans. I thought I read a post by one guy in Ohio who said something about the New England Pension Plan. I am confused??

    Also, can someone please clarify. You need 30 years in order to receive a full pension right???

    So, if I work 10 Part-time I need 25 full-time??? Is this correct!
     
  2. helenofcalifornia

    helenofcalifornia Well-Known Member

    Your pension is based on hours worked and you need 2000 hours to qualify for one full year of pension. Most PTers work about 1400 hours in a year (at least I did) so that would not qualify you for a full year of pension. And I believe you can qualify for a pension if the "80 and out" rule applies to you. Your years of service plus your age has to equal 80. Look on the Teamsters website for more info. And you might want to PM Tooner for your pension people; I know she lives in Ohio. Good luck.
     
  3. tieguy

    tieguy Banned

    I think ohio has several unions. Look around for a union Bullitin board or ask around at work and they should be able to tell you what local you belong to.
     
  4. JonFrum

    JonFrum Guest

    Bailey, I'm assuming Ohio is in the Central States Region.

    If you are a part-timer, you are probably covered under the UPS Pension Plan described in Article 34 of the Master Agreement available here . . .
    http://www.teamster.org/divisions/parcel/2008UPSagreementandsupplements.htm

    If you are a full-timer you are covered by the Central States Plan available here . . .
    http://www.centralstates.org
    and the new UPS-IBT plan also described in Article 34.

    You're not suppose to understand any of this.

    After you earn five years of vesting service, you are earning a future pension that grows bigger as you continue to work. Thirty years is considered a benchmark, but you can retire earlier, with less money, or later, with more money.

    Part-time years only count about half what full-time years do.