Retirement Estimator/Calculator

[SteveOUPS]

I was going to get $5300 for 35 years under the old contract. That’s because there are 2 different ways to calculate your pension. A service pension gives you a fixed amount for 25, 30, & 35 years, plus $100 for each additional year. The contributory pension is determined by adding the amount UPS has contributed each year to your pension, currently $185 for each year under the new contract. My contributory calculation gave me $5300/mo under the old contract. My takeaway is that the pension benefit wasn’t raised at all under this new contract. Is there anyone else in agreement?

 

[Coldworld]

MYOFB

He’s such a nosy mother er!!

 

[Coldworld]

Measure twice cut once
Trust me I've been doing a lot of investigating into it myself in the past year

Ok scratch jr.

 

[Babagounj]

My pension comes form the New England Teamsters Pension Fund { Welcome - New England Teamsters Pension Fund } , not the company.
For those who retire at age 60 , an extra $1000 / month is added to help cover the cost of medical insurance until one reaches 62. Which they assume is when everyone will join Medicare.

 

[IVE GOTTA PACKAGE 4U]

My pension comes form the New England Teamsters Pension Fund { Welcome - New England Teamsters Pension Fund } , not the company.
For those who retire at age 60 , an extra $1000 / month is added to help cover the cost of medical insurance until one reaches 62. Which they assume is when everyone will join Medicare.

You can't get Medicare until your age 65

 

[Babagounj]

You can't get Medicare until your age 65

Yes, you are correct.
But for some unknown reason, they stop the extra funds at age 62.

 

[IVE GOTTA PACKAGE 4U]

Yes, you are correct.
But for some unknown reason, they stop the extra funds at age 62.

Probably because that's when you're eligible to first collect social security

Figure in part of the average social security for a driver at age 62 right now is probably about 2,000 plus a month