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

[JohnInSouthJersey]

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 -- or temper it -- as I await the numbers.
The main question is; at 65 last month (can pass for 45 ), 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.

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

 

[JohnInSouthJersey]

Hmmm... maybe I posted in the wrong forum.

 

[cheryl]

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

 

[Squint]

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

 

[Re-Raise]

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.

 

[oldngray]

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 -- or temper it -- as I await the numbers.
The main question is; at 65 last month (can pass for 45 ), 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.

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

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.

 

[JohnInSouthJersey]

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 aisle 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 -- or temper it -- as I await the numbers.
The main question is; at 65 last month (can pass for 45 ), 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.

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

 

[Turdferguson]

*

Bumping it five years later won't help you get an answer

 

[Brownslave688]

Bumping it five years later won't help you get an answer

Says who?

 

[Brownslave688]

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 -- or temper it -- as I await the numbers.
The main question is; at 65 last month (can pass for 45 ), 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.

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

$237.87

 

[Babagounj]

back in the 80's , one needed ten years invested to be pension qualified .

 

[UpstateNYUPSer(Ret)]

back in the 80's , one needed ten years invested to be pension qualified .

I started in 1989 and it was 5 years. It is still 5 years today.

 

[JohnInSouthJersey]

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 -- or temper it -- as I await the numbers.
The main question is; at 65 last month (can pass for 45 ), 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.

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

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 -- or temper it -- as I await the numbers.
The main question is; at 65 last month (can pass for 45 ), 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.

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

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 -- or temper it -- as I await the numbers.
The main question is; at 65 last month (can pass for 45 ), 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.

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

Bumping it five years later won't help you get an answer

S---! Sorry Turdferguson. I didn't intend to "bump" this post, actually about 4 years. I was looking around after years gone by, saw my original post, and spotted a spelling error ("isle," which I was trying to correct to (aisle) -- yea; a spelling correction 4 years later. Is that what they call anal ha-ha. Somehow trying to edit it bumped it forward about 4 years. It's embarrassing, but worth the laugh.

Oh; I did get my part-time pension. It's $117.33/mo. I think they gave me credit for, or about, 5 years part-time work. I thought it would be about twice that amount. I was so glad to get it started, especially since I got about $1800 retroactively, that I accepted it and moved on. It was probably accurate. I tended to give myself every benefit of the doubt concerning the figures.

Thanks for the reply anyway. Good luck with your work, or retirement if you're done.

John
NJ (just across from Philly)

 

[JohnInSouthJersey]

Says who?

Thanks for commenting Brownslave688. Please see my post above to Turdferguson.

 

[JohnInSouthJersey]

$237.87

I wonder how you came up with that number? It's far from clear in my mind 4 years later. I worked 7-8 years and I suspect I somehow got credit for about 5 years. Who knows? It's over. I'm OK with it. Especially because I was first told it would not be retroactive. Then I got the letter with a fat retroactive check. Yes; all's OK.

I'll check in once in a while maybe. Some interesting discussions, and "characters," hanging out here.

Peace to to all.

John
NJ

 

[Jackburton]

At least you're not an old retiree that comes on here once and awhile to post how no one will be able to ever live up to the challenges you faced.

 

[Wally]

Bumping it five years later won't help you get an answer

Don't be a Debbie Downer. The 177 rocks! Info will flow in!

 

[burrheadd]

Thanks for commenting Brownslave688. Please see my post above to Turdferguson.

You related to @Wally ?

 

[Babagounj]

I started in 1989 and it was 5 years. It is still 5 years today.

I was invested ( 10+ yrs ) before you even started .
See life was harder back then .