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Brown Cafe UPS Forum
UPS Retirement Topics
UPS Special Pension Buyout Offer - December 2016
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<blockquote data-quote="Jaco Williams" data-source="post: 2383953" data-attributes="member: 64323"><p>There's rules put in place by the IRS that stops a company from low balling the actual lump sum. They can low ball your pension amount with interest rates & what not but not the lump sum. </p><p></p><p>But the be honest - I really don't know. This financial <img src="/community/styles/default/xenforo/smilies/group1/censored2.gif" class="smilie" loading="lazy" alt=":censored2:" title="Censored2 :censored2:" data-shortname=":censored2:" /> is hard to understand. I was in aircraft maintenance!!! Lol</p><p></p><p>For me - non union - my pension is based on the average of my last 5yrs salary. Which was around $72k. Per the company's Retirement plan - I'm to get around $1400 per month until I croak. </p><p></p><p>The IRS says lumps sums are to be calculated to 81yrs old. </p><p></p><p>The part I don't know is if it's calculated from when I'm 55 or 65. I am eligible for early retirement due to being with UPS for over 10yrs. </p><p></p><p>Anyhow - $1400 x 312 months (55yrs to 81yrs) = $400k+...</p><p>What my pension will be worth -- approximately....</p><p></p><p>My lump sum will be based some where off of that $400k...</p><p></p><p>Subtract taxes, fees, interest rates, penalties, bla-blah....</p><p></p><p>Who gives a <img src="/community/styles/default/xenforo/smilies/group1/censored2.gif" class="smilie" loading="lazy" alt=":censored2:" title="Censored2 :censored2:" data-shortname=":censored2:" />? Cut me a check & shut up big brown. You were nothing but a pain in my ass anyways!</p><p>This will cut all ties I have with that place...!! Yes!!</p></blockquote><p></p>
[QUOTE="Jaco Williams, post: 2383953, member: 64323"] There's rules put in place by the IRS that stops a company from low balling the actual lump sum. They can low ball your pension amount with interest rates & what not but not the lump sum. But the be honest - I really don't know. This financial :censored: is hard to understand. I was in aircraft maintenance!!! Lol For me - non union - my pension is based on the average of my last 5yrs salary. Which was around $72k. Per the company's Retirement plan - I'm to get around $1400 per month until I croak. The IRS says lumps sums are to be calculated to 81yrs old. The part I don't know is if it's calculated from when I'm 55 or 65. I am eligible for early retirement due to being with UPS for over 10yrs. Anyhow - $1400 x 312 months (55yrs to 81yrs) = $400k+... What my pension will be worth -- approximately.... My lump sum will be based some where off of that $400k... Subtract taxes, fees, interest rates, penalties, bla-blah.... Who gives a :censored:? Cut me a check & shut up big brown. You were nothing but a pain in my ass anyways! This will cut all ties I have with that place...!! Yes!! [/QUOTE]
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