UpstateNYUPSer(Ret)
Well-Known Member
Good point.
UPS Special Pension Buyout Offer - December 2016
- Thread starter JMR07168
- Start date
Good point.
Ante Up(s)
New Member
Hello All,
I've been a part time manager with brown from 1989 to May 1997. I moved a couple of times after that and never updated my address with UPS.
A friend told me about the buyout so I got my details updated before Sept 29th. When I called the 855# they said I was not eligible based on the date I left.
That's fine.
My question is did they ever offer a buyout before this one that I missed?
I've been a part time manager with brown from 1989 to May 1997. I moved a couple of times after that and never updated my address with UPS.
A friend told me about the buyout so I got my details updated before Sept 29th. When I called the 855# they said I was not eligible based on the date I left.
That's fine.
My question is did they ever offer a buyout before this one that I missed?
I can't speak for the managers but they have not offered anything to the hourly part timers.
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Catatonic
Nine Lives
Nope
This the first.
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Ante Up(s)
New Member
thanks for the replies.
Looks like for some reason they are just trying to buy out a certain plan. I'm sure you were under a different plan
UpstateNYUPSer(Ret)
Well-Known Member
This may be an ideal time to prepay your funeral expenses.
Lol...with a little to spare for the after party.
Ante Up(s)
New Member
Thanks TonyC. BTW I knew a TonyC that worked in Chase Court and Foster Ave Brooklyn
burrheadd
KING Of GIFS
Is English not your first language?
UpstateNYUPSer(Ret)
Well-Known Member
Wu*?
By The Book
Well-Known Member
It's a work in progress, the words you use together are hard to understand what you're saying. If you find this easy to understand, that's what we should think after reading your posts.
dyev
Member
I got the buy out offer as well. I'm not taking it and here's why -
As a part timer for 7 years, drawing at full retirement age, I'll get $350 a month from the company administered pension plan.
Knowing how insufficient my Social Security income will be, having that $350 could well save me from utter destitution later on. At 63 years old now, IMO it's too late to roll any payoff into a better investment.
-AND- for many purposes and applications, one must show a verifiable monthly income. Places which require a verifiable monthly income will not usually consider savings or investments as income. They want to see guaranteed monthly annuities.
So that both the SS and the UPS pension will be counted together combined as guaranteed monthly income.
(You young kiddos just wait until you get older and try to rent an apartment or something. Even if you offer to pay a zillion dollars cash in advance, they won't take it. You need to prove sufficient monthly income.)
As a part timer for 7 years, drawing at full retirement age, I'll get $350 a month from the company administered pension plan.
Knowing how insufficient my Social Security income will be, having that $350 could well save me from utter destitution later on. At 63 years old now, IMO it's too late to roll any payoff into a better investment.
-AND- for many purposes and applications, one must show a verifiable monthly income. Places which require a verifiable monthly income will not usually consider savings or investments as income. They want to see guaranteed monthly annuities.
So that both the SS and the UPS pension will be counted together combined as guaranteed monthly income.
(You young kiddos just wait until you get older and try to rent an apartment or something. Even if you offer to pay a zillion dollars cash in advance, they won't take it. You need to prove sufficient monthly income.)
brownmonster
Man of Great Wisdom
Yikes.
UpstateNYUPSer(Ret)
Well-Known Member
This may be the same guy that I saw standing by the entrance to Walmart holding a "Need Help----Hungry" sign.
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