What's the earliest I can retire and get full medical??

[104Feeder]

Yes, Western Conference of Teamsters. The question was asked during our Contract meetings for the current Contract about retiring & dependent health care and it was answered by our Secretary Treasurer that if you died before retiring when you could have retired your dependents would be without the Retiree health benefits. I'm assuming these benefits become secondary coverage when you become eligible for Medicare as with most insurance plans.

 

[Anonymous 10]

I don't question that mindset, but the minute you work past that milestone????

There are several in my building, WTF????

i think there are several in every building. Call me crazy but I get a little sad when I see them go. Guys these days are lacking in the charisma department. I'm glad I had these guys to learn from. I will gladly take newbies under my wing because of them.

 

[OptimusPrime]

Curious as to how PT time transfers to retirement. With the long wait PC driver has become, a lot of us wont reach full pension before we are old and crippled. Went FT at 31. Similar situations exist in my center. Humping packages into our 60's seems a tad off. Though we will save some wear and tear with power steering, automatics, etc.

 

[104Feeder]

I don't question that mindset, but the minute you work past that milestone????

There are several in my building, WTF????

We have some that are double-dipping: collecting Social Security which is about $25-$30k/yr plus making over $100k as Feeder drivers. Seeing as a Feeder driver who retires today from the WCTPF would receive about $57k/yr that doesn't seem like all that bad of a deal. Of course, the longer you delay taking SS the more they will pay you per month. Considering actuarial tables say if you live past 50 you have a very good chance of living into your 80's they might have been better off just working and foregoing the SS or retiring and doing something else for awhile. Everyone has their own reasons. For myself I like to say I'll retire about 500 hours after my actual date because it's mid year and I can pick up another vested year but I'll probably work a few extra years to make up for my part-time years. I'm sure once you reach that milestone it's easier to just say "eh, maybe I'll retire next year".

 

[slantnosechevy]

i think there are several in every building. Call me crazy but I get a little sad when I see them go. Guys these days are lacking in the charisma department. I'm glad I had these guys to learn from. I will gladly take newbies under my wing because of them.

Wow! There is hope for the younger generation.

25 and out at 50 in my area. We had a couple get 25 at 48. They grieved and won in arbitration because of contract language that has since been changed to 50 yrs. of age.

 

[old brown shoe]

Never herd of full medical when you retire from WCT. I will be retiring with 35 full time years driving in and will have to pay for my insurance for my spouse and me through the teamsters. I would have left some time ago if my medical was taken care of.

 

[104Feeder]

I'm sure there are some variances, just as Hawaii doesn't have PEER which is why I won't transfer there. No feeders either so it would add 15 years in the Package Car no thanks.

 

[dilligaf]

I'm sure there are some variances, just as Hawaii doesn't have PEER which is why I won't transfer there. No feeders either so it would add 15 years in the Package Car no thanks.

Do you know how to figure out the PEER 80? I know part of it is age + years of service but there is something about extra points after 40. I'm in 104 also.

 

[104Feeder]

I think you are referring to the bonus they pay depending on how our investments work. The PEER is pretty straight forward, say you started at age 20 you have 30 years of work and 30 years of age til you hit your 80 points (on date of hire not birthday). 5 years til you are vested. 500 hours in a year gets you credit toward a vested year of coverage, so if you work past the hire date where you hit your 80 you increase your benefit. There was a meeting some years ago where I remember a fight because they had to reduce the bonus but I think they explained it pretty well. I believe it was reduced by half, and some of it had to do with bad loans made to Fife Symington's failed downtown Mercado project.

I would plan on meeting with Southwest Administrators about 3 years out from your anticipated retirement date and double checking what they have for credited hours and then repeating this each year. I know I am just short of 500 hours for my first year of part-time so I will be working past what should be my retirement date at least 3 months. Hope you saved your pay stubs!

Could you also be referring to the catch-up provision of 401k rules that allow you to contribute an additional $5500 in 2012 & 2013 if you are over age 50?

 

[dilligaf]

I started at 43, so I'm looking at just under 62. No, there was something I heard or I was told about getting an extra point credit towards PEER 80 after 40 years of age.

 

[104Feeder]

Let me dig out my pension packets and chug two Rockstars so I can read them.