Ups 25 Year Service Retirement

Discussion in 'Life After Brown' started by MSGTDEL, Nov 13, 2006.

  1. MSGTDEL

    MSGTDEL New Member

    Does Any One Know Of Any Body Who Has Retired On This Plan? If So, How Long Will It Take Ups To Process A Retirement? And When Would One Recieve Their First Check?
     
  2. Check with your Human Resource Dept. You usually have to request the info a couple of months before you plan to retire. Don't wait til the last minute or you won't get a check on time
     
  3. Rusty

    Rusty Feeder Driver

    I think it will take about 90 days to get your first check
     
  4. 30andout

    30andout New Member

    Where are you at, there is no such thing here any more.
     
  5. wildgoose

    wildgoose WILDGOOSE

    Well 30andout it will depend on your age say 65 maybe ?
     
  6. pabney

    pabney New Member

    Do you or any one know the address, email or phone number for the UPS Retirement Plan? I had a fire, and of course, part of my papers were burned. Thanks for any help.
     
  7. ups79

    ups79 Active Member

    In our local the first retirement check is sent out the 1st of the month. After the first check they are directed deposited. You want to schedule your retirement at the end of the month. I retired officially the saturday after Thanksgiving. Got holiday pay for the week of thanksgiving, but what was really great, got first pension check the saturday after thanksgiving. Turned out got my first pension check one saturday and the next friday picked up from UPS center my last employment check.
     
  8. storm4

    storm4 New Member

    For those that were grandfathered to receive retiree health benefits, how do they compare to the regular plan? Was it everything that was covered before at similar costs and do you have to make selections each year that affect the costs? This year seems like a huge jump in costs for those still working and I can't imagine how a retiree would pay $3K deductible before getting coverage.
     
  9. scottVA

    scottVA Richmond-Air

    No but I have a question, Im one of those people who accidently stayed at ups for almost 25 years as a partimer can you beleive that? Of course I have a day job. Im sure I have the 750 hours a year to qualify, but where do I write to get the exact number of hours I have and how many more I need (HR in our building is usless) to be done with it. From what I understand it is 750hrs per calender year, I started on April 1st so if I did not get enough that year I will have to work over untill I do right?

    thanks
    ss
     
  10. rod

    rod retired and happy

    I knew dozens of people that said they would retire after 25 years----but not a single one of them did.
     
  11. scottVA

    scottVA Richmond-Air

    Thats cus the've been converted into pod people.
     
  12. ups79

    ups79 Active Member

    After one year, I told my wife we must be prepared in 24 years because I am retiring with 25 and out. Kept my word and have been retired for nearly six years now.
     
  13. rod

    rod retired and happy

    That is the reason most never retired at 25 years-----NOT PREPARED. Congrats!!! you are the only one I've heard of that did it.:bow::thumbsup::thumbup1::thumbup:
     
  14. tunemixer

    tunemixer New Member

    I will be retiring Dec 30th. I will have 26 years as a driver. I will be 62. There is no more 25 or 30 and out. The deal is if you aren't 57 you can't collect. And if you leave before 57 you have to wait until you are 64.Thoe retiring at 57 will receive a pension but at a reduced rate. The pension is based on age 64. Thats when it maxes out. For those of you who leave at 57 you won't receive your full benefit.The closer you are to 64 the more you will get. I am getting almost 600.00 more a month with 26 year then a driver that retired with 30 years at 52. That of course was before the age 57 deal took place. For those that left as part timers or drivers to go into management they will have to wait until they are 64 to ge the union pension.
    As far as benefits. I will get my benefits until I am 65. at that point medicare takes over. If you are married and your wife is 62 she will also receive them. If you leave before 62 you can buy them through the union for you and your wife . But you or she has to be at least 57.
    I turn 62 on Dec 7th . I could go at that time. but by working through peak I will receive all of my vacation as a bonus.
     
  15. purplesky

    purplesky Active Member


    In my local we still have the 25 and 30 out. You have to be 57 to get full amount. At age 50 and 20 years of service you can collect but the penalty is huge. So age 50 and 20 years of service is the start point. I hope people are putting alot of money into their 401Ks because the pension alone is not enough. Lets hope to God its still around in a few years.
     
  16. purplesky

    purplesky Active Member

    Submit a letter to your HR Dept. and tell them you want to retire at 25 years and you need a certification letter to confirm your 25 year retire date. I would hand it to the HR person who handles this issue and follow up in a few days in person. DO NOT QUIT UNTIL THEY GIVE YOU A LETTER STATING THE DATE YOU CAN RETIRE WITH 25 YEARS CREDIT.
     
  17. tunemixer

    tunemixer New Member

    Get ready people. Heard a rumor that the union is throwing around the idea of raising the age to 60 from 57. That could come as soon as January. I feel for all of you even if it is just a rumor.
     
  18. toonertoo

    toonertoo Most Awesome Dog Staff Member

    No way!
     
  19. tunemixer

    tunemixer New Member

    You may think NO way . But did you ever think you would see them make the age requirment 57 ? There are many many people retiring in the next few years. The money in the fund will run low. They have to do something to hold off more from retiring at 57. I heard it from a shop steward. Is it true or could it happen? I know I won't be affected but of but many will be. All I can say isI hope it dosen't happen and GOOD LUCK
     
  20. purplesky

    purplesky Active Member

    If the stock market continues its bull run or holds its own the fund will be fine. Which locals will have their retirement age raised from 57 Tunemixer? Right now there are many drivers who will be able to choose 25 and out at age 57 if they can afford it. You are just speculating and guessing and in this economy anythings possible. Actually alot of UPSERS can retire now but are just sticking around for some reason. Raising the management age by 2 years is not a big deal considering they do not use their backs and knees. Also arent the current management people grandfathered in to 55. I really hope you are wrong because there will be alot of really old package car drivers.:sad-very: