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Brown Cafe UPS Forum
UPS Retirement Topics
question on possible pension changes 10 years down the road....
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<blockquote data-quote="tunemixer" data-source="post: 301226" data-attributes="member: 7460"><p>I will be retiring Dec. 31 2009 and have been talking to our BM . I was thinking of leaving Dec.31 2007 but he suggested I stay another two years . I'll be 62 and will go right into collecting SS at the same time I collect my pension. By staying another two years my benefit will increase almost 600.00 a month. I will only have 26 years in but because I am closer to the max age of 64 my pension is going to be more than a driver that retired with 30 years in at age 52. Guess they figure they won't have to pay me as long. I will also get my health benefits for 3 years after retirement.My wifes will be at a reduced rate because she is younger than I am. My monthly bnefit will be 4025.00 a month. Not too shabby. I was also told they may do away with the up front money that retirees can take. Now its a max of 50,000. Of course that lowers your monthly check. There is also more money from UPS going into the pension but they haven't decided if they will just put the money in the fund or spread it out in monthly payments. But whatever you have earned up to this point will not be lowered if the change the pension . Only future benefits will be effected. I'm in Northern New England. Just thought I would share this with you.</p></blockquote><p></p>
[QUOTE="tunemixer, post: 301226, member: 7460"] I will be retiring Dec. 31 2009 and have been talking to our BM . I was thinking of leaving Dec.31 2007 but he suggested I stay another two years . I'll be 62 and will go right into collecting SS at the same time I collect my pension. By staying another two years my benefit will increase almost 600.00 a month. I will only have 26 years in but because I am closer to the max age of 64 my pension is going to be more than a driver that retired with 30 years in at age 52. Guess they figure they won't have to pay me as long. I will also get my health benefits for 3 years after retirement.My wifes will be at a reduced rate because she is younger than I am. My monthly bnefit will be 4025.00 a month. Not too shabby. I was also told they may do away with the up front money that retirees can take. Now its a max of 50,000. Of course that lowers your monthly check. There is also more money from UPS going into the pension but they haven't decided if they will just put the money in the fund or spread it out in monthly payments. But whatever you have earned up to this point will not be lowered if the change the pension . Only future benefits will be effected. I'm in Northern New England. Just thought I would share this with you. [/QUOTE]
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question on possible pension changes 10 years down the road....
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