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Retirement - Part-time yrs. + Full-time yrs < What U Think (UPS/IBT Plan)
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<blockquote data-quote="pretender" data-source="post: 1089111" data-attributes="member: 1493"><p>I agree how the part time years are calculated: 13/30x751=325.43 (if you retire under the age of 65).</p><p></p><p>I have a different understanding of your full time pension-I do not believe you will collect anything at all from Central States, since you were not vested in 2008, when the UPS/IBT took over. Your pension will come entirely from UPS/IBT, and you will get credit for 2006/07. </p><p></p><p>Now is where it gets interesting. Your part time years count toward the required years for your service pension, so in theory you could retire this year and receive $700 from UPS/IBT and $325 from UPS. You can do the math for 25 and 30 years. However, given the number of years you were part time, if you stick it out long enough to get 30+ years full time, you would be eligible for much more per month from both your UPS and UPS/IBT pensions. The closer you get to the age of 65, you would be eligible for a regular pension as opposed to service.</p><p></p><p>To repeat, this is just my understanding, so please don't just take my word for it...</p></blockquote><p></p>
[QUOTE="pretender, post: 1089111, member: 1493"] I agree how the part time years are calculated: 13/30x751=325.43 (if you retire under the age of 65). I have a different understanding of your full time pension-I do not believe you will collect anything at all from Central States, since you were not vested in 2008, when the UPS/IBT took over. Your pension will come entirely from UPS/IBT, and you will get credit for 2006/07. Now is where it gets interesting. Your part time years count toward the required years for your service pension, so in theory you could retire this year and receive $700 from UPS/IBT and $325 from UPS. You can do the math for 25 and 30 years. However, given the number of years you were part time, if you stick it out long enough to get 30+ years full time, you would be eligible for much more per month from both your UPS and UPS/IBT pensions. The closer you get to the age of 65, you would be eligible for a regular pension as opposed to service. To repeat, this is just my understanding, so please don't just take my word for it... [/QUOTE]
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Retirement - Part-time yrs. + Full-time yrs < What U Think (UPS/IBT Plan)
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