Questions about retirement

Discussion in 'UPS Retirement Topics' started by helpermonkey, Sep 3, 2014.

  1. helpermonkey

    helpermonkey New Member

    I am sorry if this has been hashed out before, but after a week of searching the Brown Cafe Catacombs I haven't found an answer. My husband is debating retiring, but is unsure of were he stands in years in. 36 years with UPS. First 1.5 as a part time loader, next 6.5 years as a supervisor, 28 as a package driver (local 705). He doesn't seem to think the Sup years will count into anything for pension, but I thought it might be worth asking around. He should be able to ask HR, but as he has been averaging 15 hours a day for the last few months I would rather poke a bear with a stick then start riding him about this. Hoping to hang on til 2017, but you never know.
     
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    He is right---the mgt years will not be added to his union years.

    Right now he is at 29.5 years. Depending on his pension plan, he may already be eligible, but normally you have to work at least 30 years.

    He needs to request a printout from the pension fund.

    He will receive a separate and much smaller pension for his mgt years.
     
  3. helpermonkey

    helpermonkey New Member

    Not going to argue if he can grab some beer money from his mgt years. I don't think he thought anything was going to come from that. I dug up a form for mgt pension estimate, and one for the UPS/IBT-I'll send them out hand hope for the best.
    Thanks!
     
  4. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    You may be able to save time by submitting your requests online. See if there is a website on either of those two forms.
     
  5. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    We aren't allowed to work 15 hours a day....
     
  6. helpermonkey

    helpermonkey New Member

    Not straight time, paid time as in hours + bonus + time and a half. Out the door at 6 in the morning and back home at 9 at night. Bad combination of early ams, regular route, plus air boxes. Makes for a good paycheck, but a little stressful on the home front.
     
  7. brownmonster

    brownmonster Man of Great Wisdom

    Still that hungry after all that time?
     
  8. Areyoukiddinme

    Areyoukiddinme best 2 weeks ever

    like Upstate said--get your print out from your pension fund, and find out who handles the paperwork for ups in your area.it took 5 months a many calls to find out who had my retirement paperwork at ups and why they weren't moving on it before it got cleared and i started getting my pension
     
  9. 1989

    1989 Well-Known Member

    My pension counts sup years as time with company, but you get no money for them. He should have a mgmt pension for the 6.5 years.
     
  10. O/C

    O/C Member

    After 5 years you are vested under the company plan. He would get a very small amount considering he was at part time status. Also he will have to wait till age 65 to collect, a three percent reduction for every year prior to age 65.

    Sent using BrownCafe App
     
  11. hellfire

    hellfire no one considers UPS people."real" Teamsters.-BUG

  12. O/C

    O/C Member

    You will get an answer in time, don't count on it being real.

    Sent using BrownCafe App
     
  13. Notretiredyet

    Notretiredyet Active Member

    Call me a cynic but I'm making sure that I've got 30 FT yrs in before leaving. At that point it's just a few more months to get the 2017 Central States pension increase, so I'm gone in early 2017. There's seems to be a lot a grey area regarding combining PT and FT credits so I'm CMA and putting in 30 yrs FT to be sure.
     
  14. O/C

    O/C Member

    I was commenting on the "company plan" not the union part of his pension benefit.

    Sent using BrownCafe App
     
  15. O/C

    O/C Member

    Under the IBT/UPS formula your part time years are not counted with the service years benefit. It clearly states that it has to be the years you worked under the Central States plan as a full timer. The 6 percent penalty applies with the other formula of 170 per service year unless you are over the age of 62 with 20 years of full time service.

    Sent using BrownCafe App
     
  16. oldngray

    oldngray nowhere special

    Those part time years do count as years of service but under another (UPS) plan. You will get a separate pension for the part time years. It won't be much but PT years do also count towards your total years of service.
     
  17. O/C

    O/C Member

    Correct, I got off tract with the reduced benefit levels mostly effecting Art 3 members with a lot of part time service. The service retirement formula benefit still applies to your full time years.

    Sent using BrownCafe App
     
  18. oldngray

    oldngray nowhere special

    Does anyone know the difference between the yearly In Network annual deductible of $200 and the yearly In Network annual coinsurance of $1000? I had to go for a check up and since it was less than $200 it was all out of pocket but I was wondering when the insurance would start paying anything. It does suck with higher premiums and deductibles and caps but we have no choice.
    coinsurance.png
     
  19. O/C

    O/C Member

    I could totally read your chart, are you retired or active?

    Sent using BrownCafe App
     
  20. oldngray

    oldngray nowhere special

    Retired. Under UPS/Aetna plan and not Teamcare.