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UPS Retirement Topics
UPS Special Pension Buyout Offer - December 2016
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<blockquote data-quote="UPSandy36109" data-source="post: 2386174" data-attributes="member: 64378"><p>I spoke to a lady from the 800 number this AM about 9:30. As I'm decent with math and time, here's what I was told.</p><p>-As others have said, we would receive our packets next week. The deadline to have them back in/decided is November 12.</p><p>-Interest rates unconsidered,- I hesitate to say 'we' in the collective as YMMV-but what I was told about my case is:</p><p>-If I chose the monthly stipend, being 225 + or -, the first stipend check would arrive in December. THERE WOULD BE NO WAITING UNTIL 55/65/ whatever. I retired out after 5 years with med disability at the age of 41 in 2012. It would be a 2-month check, December's payment and January's. Continue ad infinitium. </p><p>-If I chose the lump sum, here's how I was told(I can NOT make this up)it would go.</p><p>-What I was told is that the Company would take the monthly sum, use the annual multiplier(basically 2800/year), times the IRS' actuarial tables allowed for a buyout.</p><p>Some have said the age is 81. IDK if it's 81,75,70. Doesn't matter.</p><p>2800 times bare mnimum 16 years(my early retirement was at 62)-43K and change.</p><p>2800 times 35 maximum-per IRS age 81-80K plus.</p><p>My jaw dropped. It would have been a good day but DW had to go to the ER. I know better than to call my bank and arrange to pay the house off, though. Never believe anything until you see it in writing. But it sounded like a good day. <img src="data:image/gif;base64,R0lGODlhAQABAIAAAAAAAP///yH5BAEAAAAALAAAAAABAAEAAAIBRAA7" class="smilie smilie--sprite smilie--sprite1" alt=":-)" title="Smile :-)" loading="lazy" data-shortname=":-)" /></p></blockquote><p></p>
[QUOTE="UPSandy36109, post: 2386174, member: 64378"] I spoke to a lady from the 800 number this AM about 9:30. As I'm decent with math and time, here's what I was told. -As others have said, we would receive our packets next week. The deadline to have them back in/decided is November 12. -Interest rates unconsidered,- I hesitate to say 'we' in the collective as YMMV-but what I was told about my case is: -If I chose the monthly stipend, being 225 + or -, the first stipend check would arrive in December. THERE WOULD BE NO WAITING UNTIL 55/65/ whatever. I retired out after 5 years with med disability at the age of 41 in 2012. It would be a 2-month check, December's payment and January's. Continue ad infinitium. -If I chose the lump sum, here's how I was told(I can NOT make this up)it would go. -What I was told is that the Company would take the monthly sum, use the annual multiplier(basically 2800/year), times the IRS' actuarial tables allowed for a buyout. Some have said the age is 81. IDK if it's 81,75,70. Doesn't matter. 2800 times bare mnimum 16 years(my early retirement was at 62)-43K and change. 2800 times 35 maximum-per IRS age 81-80K plus. My jaw dropped. It would have been a good day but DW had to go to the ER. I know better than to call my bank and arrange to pay the house off, though. Never believe anything until you see it in writing. But it sounded like a good day. :-) [/QUOTE]
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