Pension Questions; Age 65, Part-Time, Amount, Buyout?

Discussion in 'UPS Discussions' started by JohnInSouthJersey, Aug 19, 2013.

  1. JohnInSouthJersey

    JohnInSouthJersey New Member

    First, thank you for your interest.

    Specific factors:

    Age: 65
    UPS Location: Edison, NJ (Teamsters Local 177)
    Previous Position: Part-time hourly package handler; vastly Isle sorter, a lot small sort, a little loading/unloading (to me, loading the hardest).
    Years Worked: 8 (1982-1990); quit at 42

    Additional Info:

    I contacted UPS's Atlanta office and there will be the standard pension information send within 30 days. I'm very curious to get any feedback to either increase my anticipation :happy-very: -- or temper it :sad-little: -- as I await the numbers.
    The main question is; at 65 last month (can pass for 45 :happy-very:), will I have a buyout option as per a contract from the 1980s (two contracts during my stay)?

    My second question is; based on the information above, what monthly amount will I receive?

    I don't expect a specific answer to either of course. Speculation and similar experiences are welcome.

    Thanks to anyone who cares to respond in advance.

    John

    PS The dental work alone, as a benefit, was well worth it. The above will be gravy. :happy-very:

    I'm not sure; just wondering if, relatively, the benefits were better in the 1980s?
     
  2. JohnInSouthJersey

    JohnInSouthJersey New Member

    Hmmm... maybe I posted in the wrong forum. :dissapointed:
     
  3. cheryl

    cheryl I started this. Staff Member

    I'll move this into UPS Discussions to see if anyone can answer your question.
     
  4. Squint

    Squint No more work for me!

    The buyout was rendered obsolete in Local 177 about 8 years ago, so no, I'm sorry to say you won't get that.

    I worked in Local 177 for a total of almost 31 years, 5 and a quarter of which were part time. I get two pensions and the part time pension is $83.00/month.

    Hope this helps you
     
  5. Re-Raise

    Re-Raise Well-Known Member

    I worked part-time for 8 years in the 80's and received a letter saying I would receive $385 a month at age 65.
     
  6. oldngray

    oldngray nowhere special


    What matters is how many years of vesting credit you have of the 8 years you worked. As long as you have 5 years of credit you will be partially vested and will get a little. Not a lot. Gas and beer money mostly. You are in a different local but here it would be around $40-45 per year of part time vesting credit.