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Top pay for p/t sups?
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<blockquote data-quote="UPS Lifer" data-source="post: 233349" data-attributes="member: 9789"><p>Part Time managment and Full Time management enjoy the same sort of non-union benefits. Most things are similar. </p><p></p><p>Remember...these things could change as the years go by. There may be a "grandfather clause" or not. Chances are you will see some sort of change in the next 20-30 years with regard to retirement and benefits.</p><p></p><p>As a PT sup - you cannot retire any earlier than 55. At 55 you will get retirement benefits and medical. Without making this to complicated, your pension will be based on your best 5 year average of salary you made out of the previous 10 years right prior to retirement. Years of service also fit in here based on increments of 20-25-30-35-etc. There is a formula that is used by corporate. Another caution....any UPS sponsored pension plan that you were previously vested in or are due earnings will be deducted from your final retirement pension. Again, the retirement age and the formulas will likely be adjusted at some point ...so keep that in mind. </p><p></p><p>I recommend that you sock away everything you can while you are young. There is not one right way to invest. Find what works for you and continue to do your homework and refine your investiment strategy. </p><p></p><p>When you hit 45 get with your HR dept and find out about UPS sponsored retirement seminars. </p><p></p><p>Here is an example of something I personally did and it cost me later. </p><p>I pulled out about $25K of my money out of the UPS Thrift Plan back in the '80s. It cost me over $200K later!!! <img src="/community/styles/default/xenforo/smilies/group1/crying.gif" class="smilie" loading="lazy" alt=":crying:" title="Crying :crying:" data-shortname=":crying:" /> </p><p></p><p>Don't let that happen to you!!! - Just remember that retirement comes a lot quicker than you think and the new boat or car will be a pile of junk a few years from now so be wise on where your earnings are invested or spent.</p></blockquote><p></p>
[QUOTE="UPS Lifer, post: 233349, member: 9789"] Part Time managment and Full Time management enjoy the same sort of non-union benefits. Most things are similar. Remember...these things could change as the years go by. There may be a "grandfather clause" or not. Chances are you will see some sort of change in the next 20-30 years with regard to retirement and benefits. As a PT sup - you cannot retire any earlier than 55. At 55 you will get retirement benefits and medical. Without making this to complicated, your pension will be based on your best 5 year average of salary you made out of the previous 10 years right prior to retirement. Years of service also fit in here based on increments of 20-25-30-35-etc. There is a formula that is used by corporate. Another caution....any UPS sponsored pension plan that you were previously vested in or are due earnings will be deducted from your final retirement pension. Again, the retirement age and the formulas will likely be adjusted at some point ...so keep that in mind. I recommend that you sock away everything you can while you are young. There is not one right way to invest. Find what works for you and continue to do your homework and refine your investiment strategy. When you hit 45 get with your HR dept and find out about UPS sponsored retirement seminars. Here is an example of something I personally did and it cost me later. I pulled out about $25K of my money out of the UPS Thrift Plan back in the '80s. It cost me over $200K later!!! :crying: Don't let that happen to you!!! - Just remember that retirement comes a lot quicker than you think and the new boat or car will be a pile of junk a few years from now so be wise on where your earnings are invested or spent. [/QUOTE]
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