Notretiredyet
Well-Known Member
The pension estimator on the UPSers website is quite accurate, and you can plug in as many dates as you want and see the numbers instantly.
when to get print out?
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oldngray
nowhere special
Not "quite accurate" but it will give a close estimate. UPS even admits its only an estimate because the numbers are usually off a few dollars.
Notretiredyet
Well-Known Member
Sent in for an estimate for 2 dates, they were exactly what was on the website. Apparently results may vary.
oldngray
nowhere special
Of course the numbers matched. The estimate uses same software as the website. Doesn't mean its correct. My pension was off and not corrected until 5 months after I retired. And it was a simple obvious error since it should have been a nice round number and was off $1.50 per month. A small difference but still incorrect.
UpstateNYUPSer(Ret)
Well-Known Member
I wish our union website allowed those of us on the Teamster pension to do this.
MC4YOU2
Wherever I see Trump, it smells like he's Putin.
Northwest Administrators recommends sending for your packet 6 months from your anticipated retirement date, then turning in the completed info no later than 3 months prior to that date. This is your best shot at getting paid on time later.
UpstateNYUPSer(Ret)
Well-Known Member
Wouldn't you want to request a printout earlier than that to make sure you are on pace to meet your anticipated retirement date and to avoid any unpleasant surprises?
MC4YOU2
Wherever I see Trump, it smells like he's Putin.
Yes for sure. These are just their recommended minimums for timely processing. Any less and you're gambling. We get get an estimated report annually and we schedule a live meeting periodically with a pension rep who travels to our area along with our BA to do a live presentation and q and a. We all get an abstract at that time and can get one once a year by request.
fishtm2001
Well-Known Member
I have a question about vacation pay at retirement. I plan on leaving June 1 2015 and am wondering if I can sign up for all my vacation weeks starting then. I may want that big check in retirement for a trip to Ireland as opposed to actually taking the weeks in the spring. I know other Teamsters do this but have been told UPS won't allow it. Thanks
oldngray
nowhere special
You can take all of your vacation just before you retire but you won't officially be retired until after your vacations are over. Many drivers do it that way. You would only get the vacation money one week at a time, not lump sum payout.
UpstateNYUPSer(Ret)
Well-Known Member
This is my plan as well and, actually, it is the Union that normally doesn't allow it, not UPS. The company is going to pay your vacations in a lump sum whether you take them before or after your retirement date so it really doesn't matter to them when you take them. The Union has told me that it is standard practice to establish your retirement eligibility date and then count backwards the number of vacation weeks and personal/sick days that you have on the books to figure out what your last day will be. Your pension will begin on the 1st day of the following month so it is ideal to retire as close to the end of the month as possible, much the same as it is best to close on a mortgage as close to the end of the month as possible to avoid having to pre-pay interest on the loan.
My projected retirement date is May 2019. I plan on working right up to my 30 year mark and then take all of my vacation weeks and any remaining personal and sick days. A lot can change in 5 years but that is my plan for now.
UpstateNYUPSer(Ret)
Well-Known Member
That is the way most drivers do it that but that is now what he is asking. He wants to work up to the day that he gets his 30 years and then take all of his vacation weeks.
Whichever way it is done you would still receive all of your vacation checks (separately) two weeks before the Friday of your first vacation week so, in essence, it would be a lump sump payment.
brownmonster
Man of Great Wisdom
Our retirees used to do this but more recently guys just seem to take their weeks like normal. That's my plan.
Cardboard carrier
Active Member
Would he be able to begin collecting his pension in June and also receive payment for his unused vacation days? Or does the pension begin after his vacation weeks?
fishtm2001
Well-Known Member
So I would still get me pension check June 1st even though I'm technically on vacation?
UpstateNYUPSer(Ret)
Well-Known Member
UpstateNYUPSer(Ret)
Well-Known Member
Good question---this may be why the Union frowns upon us doing it this way.
Resident know-it-all.
MC4YOU2
Wherever I see Trump, it smells like he's Putin.
In the west this is typical. You can "double dip" by collecting pension on the first non working month whether it's a vacation or complete separation from employment. We are paid in multiple one week checks that hit your bank all at once but as individual checks. Your healthcare SHOULD be paid through the end of your vacay, actually technically 2 months past you last month of at least 40 vacay hrs. I say should, as I know this has been reneged on by UPS when they know the driver is actually retiring, not just stacking several vacay weeks. Check with your BA, I'm not sure this applies exactly the same in your area. It's been done here for many years.
UpstateNYUPSer(Ret)
Well-Known Member
What if the retiree changes his/her mind while on vacation? Would they have to return any pension payments received?
Resident know-it-all.
Resident know-it-all.
brownmonster
Man of Great Wisdom
Does that happen?
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