retirement payment Lump Sum option?

Discussion in 'UPS Retirement Topics' started by Hankc, Aug 29, 2013.

  1. Hankc

    Hankc New Member

    Hello, I will be filing for retirement next year. I am currently receiving SSA disability and VA disability.
    My choice for payout seem to be:
    Single Life Annuity
    Single Life Certain Annuity
    Joint and 50% Survivor Annuity
    Joint and 100% Survivor Annuity(not an option for me as wife is much younger than 10 years)

    My question, is there a Lump Sum payout option and how would I elect it as it is not stated as an option on the retirement plan application?

    Regards Hank
     
  2. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    I am not aware of a lump sum payout option.
    ‚ÄčNever heard it discussed.
     
  3. BigUnionGuy

    BigUnionGuy Got the T-Shirt

    If you are a full-time employee, it's not an option.

    I have "heard" of part-timer's.... barely fulfilling the vesting requirement doing it. Have never seen it though....



    -Bug-
     
  4. The Milkman

    The Milkman Well-Known Member

    When I hung it up I had the spouse pension choice (50%) if I die first, single with 10 yrs guaranteed full pension, no wife survivor benefit, If I died 1st yr wife would get 100% for remaining 9 yrs, also 50k lump sum which reduced my benefit a little for life........:peaceful: