Traditional Pension

Discussion in 'FedEx Discussions' started by Goldilocks, Apr 5, 2015.

  1. Goldilocks

    Goldilocks Well-Known Member

    Can someone explain to me about the leveling option? We have some idiots working in the retirement center.
     
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

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  3. Rhoderunner

    Rhoderunner Active Member

    You could also speak to Van. He posted some very good info on this quite awhile back.
     
  4. Goldilocks

    Goldilocks Well-Known Member

    Ty, I am so ready to go. 30 years and a toaster oven. Lol Try to imagine our courier job being pregnant back in the 80 and 90. It was hard on my body. But only to receive a toaster oven.
     
  5. Route 66

    Route 66 Flacid Member

    You got a toaster oven!?!?! :nonono:
     
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  6. vantexan

    vantexan Well-Known Member

    Gosh I envy Goldi!
     
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  7. vantexan

    vantexan Well-Known Member

    To be exact, the SS leveling option has nothing to do with the size of your SS payments. It allows you to take more of your pension upfront and then at 67 your pension is greatly reduced. They call it the leveling option because since your SS has kicked in you'll have roughly the same amount of income. It doesn't affect your SS, you may choose to take early SS at 62 and that doesn't affect your pension, it'll still be reduced at 67.

    In my case I can take the SS leveling option at 55 and get $1701 a month, dropping to $229 at 67. Or I could do the same at age 60, the latest I can take it, and get about $2200 a month if I remember right, dropping to about $650 at 67. Obviously those who didn't quit like I did and had the higher top pay will do much better if they go that route. But if you do better pray the gov't doesn't muck up SS.
     
  8. Goldilocks

    Goldilocks Well-Known Member

    Can your spouse still receive your pension if you choose leveling?
     
  9. vantexan

    vantexan Well-Known Member

    No, only the 50% and 100% survivor options give your spouse a benefit. If the employee is married the 50% survivor option is automatic unless both of you sign off on another option.
     
  10. Rhoderunner

    Rhoderunner Active Member

    Sure, if you give back the toaster oven.
     
  11. BigTex61

    BigTex61 Active Member

    30 years and a toaster oven? Wow!