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UPS Retirement Topics
UPS Special Pension Buyout Offer - December 2016
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<blockquote data-quote="walkman" data-source="post: 2390651" data-attributes="member: 64499"><p>Took me a while to find all of this info, but here we go. Use this website <a href="https://www.pensionbenefits.com/calculators/cal_main.jsp?sub_item=lumpsum_cal" target="_blank">PensionBenefits, Inc. - Lump Sum Value Calculator</a></p><p>and enter your birth date. For benefit start date use the date you will turn 65 and Oct 1, 2016 for the determination date. You MUST use the mortality table!! Select 2016 Applicable Annuity Table with the Age Set Back as "1". Interest rate you will use is 4.98% if you are more than 20 years from 65, 4.05% if you turn 65 in the next 5-20 years and 1.68% if you turn 65 in the next 5 years. Now all you need to enter is your Monthly Benefit. </p><p>I found all of this by reading the USP Pension Plan that is filed with the SEC. This can be found at : <a href="https://www.sec.gov/Archives/edgar/data/1090727/000119312508043891/dex102.htm" target="_blank">UPS Retirement Plan, as Amended and Restated</a></p><p>It defines the guidlelines I listed above when calculating a pension buyout. Believe it not UPS does have a written plan when it comes to offering buyouts and it is strictly guided by the IRS. Most of UPS' criteria refers to numbers that the IRS puts out. They cannot just lowball you an offer. It is all based on how much you can earn in interest from now until you turn 65. Here's what mine calculates to: I am over 20 years until 65 and my monthly benefit will be $1600 so my buyout offer should be about $80,000.</p></blockquote><p></p>
[QUOTE="walkman, post: 2390651, member: 64499"] Took me a while to find all of this info, but here we go. Use this website [URL="https://www.pensionbenefits.com/calculators/cal_main.jsp?sub_item=lumpsum_cal"]PensionBenefits, Inc. - Lump Sum Value Calculator[/URL] and enter your birth date. For benefit start date use the date you will turn 65 and Oct 1, 2016 for the determination date. You MUST use the mortality table!! Select 2016 Applicable Annuity Table with the Age Set Back as "1". Interest rate you will use is 4.98% if you are more than 20 years from 65, 4.05% if you turn 65 in the next 5-20 years and 1.68% if you turn 65 in the next 5 years. Now all you need to enter is your Monthly Benefit. I found all of this by reading the USP Pension Plan that is filed with the SEC. This can be found at : [URL="https://www.sec.gov/Archives/edgar/data/1090727/000119312508043891/dex102.htm"]UPS Retirement Plan, as Amended and Restated[/URL] It defines the guidlelines I listed above when calculating a pension buyout. Believe it not UPS does have a written plan when it comes to offering buyouts and it is strictly guided by the IRS. Most of UPS' criteria refers to numbers that the IRS puts out. They cannot just lowball you an offer. It is all based on how much you can earn in interest from now until you turn 65. Here's what mine calculates to: I am over 20 years until 65 and my monthly benefit will be $1600 so my buyout offer should be about $80,000. [/QUOTE]
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