UPS Special Pension Buyout Offer - December 2016

UpstateNYUPSer(Ret)

Well-Known Member
Haven't looked at my statement in a while, but I believe there are fees for all categories. S and P, horizon funds, etc. reits are derivatives or real estate. I want physical assets.

There are fees---the company pays the bulk of those fees.

Are there 401k's out there that allow you to buy commodities?
 

PiedmontSteward

RTW-4-Less
Fees are paid by the company.

I thought REIT's involved real estate-----I have never looked in to them as I have no interest in investing in them.

US REIT INDEX we have access to in the fund is composed of property management companies that rent out properties, I believe:

The Fund invests primarily in publicly traded shares of real estate investment trusts (REITs). A REIT is a company that owns and manages real estate properties such as apartments, office buildings, retail malls and shopping centers, hotels, and industrial buildings. REITs generate income from rentals or lease payments and offer the potential for growth from property appreciation and the potential for capital gains from the sale of properties.

I put about 20% in there and 20% in the balanced fund. I'm more aggressive with my other investments.
 

PiedmontSteward

RTW-4-Less
The whole 401k sucks. Unnecessary fees, you can only buy paper, you really have no control. It's a big stock market scam.

I agree, its a stock market scam. But how do you think pensions are funded? They can afford to be a little more conservative than 401k plans as long as there are more active participants (people who the company is paying in on behalf of) than retirees but that money still has to grow somehow.

The fees in the UPS/IBT 401k plan are quite a bit cheaper than other plans and the plan revolves around index funds. Index funds consistently perform equal to (or even better) than actively-managed plans. I'd recommend watching John Oliver's expose on 401k's:

 

1989

Well-Known Member
I agree, its a stock market scam. But how do you think pensions are funded? They can afford to be a little more conservative than 401k plans as long as there are more active participants (people who the company is paying in on behalf of) than retirees but that money still has to grow somehow.

The fees in the UPS/IBT 401k plan are quite a bit cheaper than other plans and the plan revolves around index funds. Index funds consistently perform equal to (or even better) than actively-managed plans. I'd recommend watching John Oliver's expose on 401k's:

So if your pension is heavily invested in the market and your 401k is a well. Just maybe you have too much exposure to stocks.
 

sox

Well-Known Member
Fees are paid by the company.

I thought REIT's involved real estate-----I have never looked in to them as I have no interest in investing in them.
You should check out the REIT fund in our 401 good way to keep it balanced out. Up about 25% over the last year and averaged close to 15% since I moved about 20% of my ups 401 there in 2009 or 2010
 

UPSandy36109

Active Member
Since this is basically anonymous, I have no problem posting my anticipated numbers here.

I was disabled after 5 years and am due for $225/month plus or minus in 17 years. I was a PT unloader. I went on the pension plan website here someone provided and must have gotten the tables wrong, because from my calculations, my payout would be north of 30K.
If that's right, I'd be ecstatic. But if anyone can help me reasonably figure this out, I'd appreciate it.
 

25TOLIFE

Well-Known Member
I had 25 years in the company when I became disabled. 20 full time years driving a package car from which I am collecting a disability pension. Not a great pension but I'm not complaining. I did 5 years in p/t management way back in the beginning. I got a statement a few years back that I'll get aprx $435 p month starting at age 65. Is this subject to a buyout offer? Also I was just approved and collect ssdi does that have any bearing on if I can collect a percentage of the p/t pension earlier? Never really gave the p/t pension much thought. I'll have to dig the statement out of the file cabinet. Appreciate any input.
 

Dogsqueezins

New Member
Your thoughts anyone?
One year ago, CS said that in my retirement year of 2027 (I'm 54 now), my monthly benefit would be 758, but with the proposed reduction of their then proposed rescue plan, would be reduced to about 222 however, the letter also went on to say that if the proposed rescue plan was not accepted, UPS would make up the difference. I was in the transfer group and also just received the card/offer.
 

PiedmontSteward

RTW-4-Less
I had 25 years in the company when I became disabled. 20 full time years driving a package car from which I am collecting a disability pension. Not a great pension but I'm not complaining. I did 5 years in p/t management way back in the beginning. I got a statement a few years back that I'll get aprx $435 p month starting at age 65. Is this subject to a buyout offer? Also I was just approved and collect ssdi does that have any bearing on if I can collect a percentage of the p/t pension earlier? Never really gave the p/t pension much thought. I'll have to dig the statement out of the file cabinet. Appreciate any input.

You'll be eligible for either the buyout for your PT years or 70÷ of your PT pension since you're now on SSID. You need to contact the UPS PT pension plan administrator.
 

25TOLIFE

Well-Known Member
If you're trying to get the pension under SSID, I'd recommend you contact the plan ASAP as they require a "timely" contact. My estimate would be that's within a period of months after approval of SSID.

I sent them an email. I didn't see a phone number on the statement. I just received the first ssdi check this month but was approved retroactively back to a date while I was still actively employed. SSDI approval process took 29 months from the day I applied.
 

scooby0048

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I sent them an email. I didn't see a phone number on the statement. I just received the first ssdi check this month but was approved retroactively back to a date while I was still actively employed. SSDI approval process took 29 months from the day I applied.
That's ridiculous, you could have been dead by the time they finally got around to finalizing it. There needs to be a better process for folks in your situation.
 

25TOLIFE

Well-Known Member
That's ridiculous, you could have been dead by the time they finally got around to finalizing it. There needs to be a better process for folks in your situation.

SSA backlog is crazy. Pretty much everyone under 50 years old gets denied right away unless you are terminal. Any ortopedic conditions (like 95% of UPS disability cases will be) have to go to a hearing with extensive medical evidence. On top of all that they closed one of their offices around here and are understaffed. They try to wait you out of the system. I guess it's in their best interest to make it as hard as they can.
 
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