Union retirement age

Channahon · 04-23-2007, 01:14 PM

What determines the retirement age for union employees?
I'm a bit confused with age 62 being mentioned and then years of service at any age.

I good friend of mine from Jersey said union employees can still leave after 25 years of service.

HazMatMan · 04-23-2007, 02:23 PM

Quote:

Originally Posted by Channahon

What determines the retirement age for union employees?
I'm a bit confused with age 62 being mentioned and then years of service at any age.

I good friend of mine from Jersey said union employees can still leave after 25 years of service.

this is for part-timers----
$1,925 at any age after 35 years of part time credited service
$1,650 at any age after 30 years of part time credited service
$1,375 at age 60 with 25 years of part time credited service
$1,125 at any age with 25 years of part time credited service.. Again, this is for part-timers and may vary from state to state...

HazMatMan · 04-23-2007, 02:26 PM

Sorry I am looking for full-time pension info but can't find it..

Sammie · 04-23-2007, 02:26 PM

Quote:

Originally Posted by Channahon

What determines the retirement age for union employees?
I'm a bit confused with age 62 being mentioned and then years of service at any age.

I good friend of mine from Jersey said union employees can still leave after 25 years of service.

You can leave after twenty five years. Say you leave with twenty five years under your belt and you're 58 years old. If you retire then, you won't bring home "the max" had you stayed until you were 62 years old. I believe you lose 6% per year for every year between 58 and 62 years of age, as in this circumstance. At least that is how it has been in the recent past.

big_arrow_up · 04-23-2007, 03:15 PM

It depends on which region you work in. Some areas can retire after 25 at any age and some can't. Yes, it is rediculous.

Hangingon · 04-23-2007, 03:21 PM

Ours is 25 FT years any age but lose 2% of your pension for every year under 55. 30 and out at any age with full benefits. Since I started at 19, I'm definitely hoping our local doesn't change it. From what I understand it is union benefit that has nothing to do with the contract, so the individual locals can change it as they see fit.

dammor · 04-23-2007, 03:23 PM

Quote:

Originally Posted by Sammie

You can leave after twenty five years. Say you leave with twenty five years under your belt and you're 58 years old. If you retire then, you won't bring home "the max" had you stayed until you were 62 years old. I believe you lose 6% per year for every year between 58 and 62 years of age, as in this circumstance. At least that is how it has been in the recent past.

This is what I find so disturbing about our retirement. We don't know when or if we can retire and don't have a clue how the part time and full time come together. Central States here, and that makes it even worse. Some will say take charge and find out. Tell me how and I will. It would be nice if we could get some information from the powers that be.

wyobill · 04-23-2007, 03:53 PM

It depends which multiemployer slush fund you are in. Im in Central States. I plan on retiring next year with 25 yrs of sevice at 51 yrs of age. I got 20.5 yrs grandfathered when the pension reform poped up in 2002. UPS carries all the retirement benafits for us at 50 dollars a month an thats medical,optical,dental,vision,perscription for my spouse and I untill age 65
then we are on our own. My check from Cental States will be 1800 and some change. The longer I stay the more that will go up. After 25 yrs of full time package car drivers time is now worth more than money. For the newer drivers they have to wait untill age 62 or take a 6 percent cut every year. You keep what ever you have up till the pension reform and that
is Central States Pension fund. Thats the way I understand it
anyway. For our benafits its 25 full time yrs of service and 50 yrs of age. Ill be willing to bet that will change some day.

Sammie · 04-23-2007, 04:58 PM

Quote:

Originally Posted by wyobill

It depends which multiemployer slush fund you are in. Im in Central States. I plan on retiring next year with 25 yrs of sevice at 51 yrs of age. I got 20.5 yrs grandfathered when the pension reform poped up in 2002. UPS carries all the retirement benafits for us at 50 dollars a month an thats medical,optical,dental,vision,perscription for my spouse and I untill age 65
then we are on own

Central States here too. Dude came back from the last union retirement meeting with info that every family member of a teamster who will be retiring, including the retiree himself, will be paying $100 per month per person to keep the union health care. He's almost positive dental and vision were not included. I guess we'll find out next year for sure what it's going to be... :confused1

wyobill · 04-23-2007, 05:38 PM

Quote:

Originally Posted by Sammie

Central States here too. Dude came back from the last union retirement meeting with info that every family member of a teamster who will be retiring, including the retiree himself, will be paying $100 per month per person to keep the union health care. He's almost positive dental and vision were not included. I guess we'll find out next year for sure what it's going to be... :confused1

Sammie our retirement health care comes from UPS not the union

Gman24 · 04-23-2007, 07:04 PM

Quote:

Originally Posted by wyobill

Sammie our retirement health care comes from UPS not the union

I think what SAMMIE means is, it is carried through CENTRAL STATES. UPS just pays into the FUND. It is not through UPS.

I really want to jump in and get another thread started, but I'll stay out of it this time. I have a feeling it's ALL going to CHANGE in the near future anyways.

scratch · 04-23-2007, 07:21 PM

Quote:

Originally Posted by Gman24

I have a feeling it's ALL going to CHANGE in the near future anyways.

Yeah Gman24, I have that same feeling, and I don't think it will be in a positive way. My brother works for GM, they are having to pay into health insurance now. We don't have any auto plants in Atlanta any more, Ford closed the one at Hapeville and GM is shutting down Doraville. The traditional union pensions plans I fear will be a thing of the past.

satellitedriver · 04-23-2007, 07:31 PM

Quote:

Originally Posted by Sammie

Central States here too. Dude came back from the last union retirement meeting with info that every family member of a teamster who will be retiring, including the retiree himself, will be paying $100 per month per person to keep the union health care. He's almost positive dental and vision were not included. I guess we'll find out next year for sure what it's going to be... :confused1

Go to the Central States website and register. Once you are verified to be who you are, just click on the retirement projection button. Everything will be based on your personal work information history.
Read all the pages, small print comes into play.
6% deduction for every year under 62.
Health care will cost me( after 25yrs and 58 yrs old) $560.00/month, with the caveat that it can be increased yearly.
I can only stress that each person should go directly to the source of info provided by their pension plan.
Meetings are great, as a social event.
Direct info from those who control the money, Priceless!!!

rockymtnupser · 04-23-2007, 08:03 PM

What is the Central States web address any one? I cant find it on google

big_arrow_up · 04-24-2007, 10:14 AM

You probably have to go through Yellow Freight's website to get it. LOL.

satellitedriver · 04-24-2007, 12:51 PM

Quote:

Originally Posted by rockymtnupser

What is the Central States web address any one? I cant find it on google

Centralstates.com - Your Centralstates Source

pkgdriver · 04-24-2007, 07:51 PM

Central States Funds | Home

satellitedriver · 04-24-2007, 08:35 PM

Quote:

Originally Posted by satellitedriver

Centralstates.com - Your Centralstates Source

My link is incorrect. See the post below mine for the correct addy.

wyobill · 04-24-2007, 08:42 PM

Quote:

Originally Posted by Gman24

I think what SAMMIE means is, it is carried through CENTRAL STATES. UPS just pays into the FUND. It is not through UPS.

I really want to jump in and get another thread started, but I'll stay out of it this time. I have a feeling it's ALL going to CHANGE in the near future anyways.

What is Union Health Care? Our health care is thru UPS.
The Union has nothing to do with it. Our retirement
health care is also thru UPS not Central States. My retirement
check will come thru Central States but not the health benefits.

big_arrow_up · 04-24-2007, 08:56 PM

How are we supposed to register for that site? I couldn't find it anywhere on there.

disneyworld · 04-25-2007, 12:24 PM

Quote:

Originally Posted by Hangingon

Ours is 25 FT years any age but lose 2% of your pension for every year under 55. 30 and out at any age with full benefits. Since I started at 19, I'm definitely hoping our local doesn't change it. From what I understand it is union benefit that has nothing to do with the contract, so the individual locals can change it as they see fit.

What if someone leaves at 24 years? or even 19 years? Do they get anything?