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Brown Cafe UPS Forum
UPS Partners
2017 Changes to Non-Union Retirement Effective 2023
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<blockquote data-quote="Scuba_Steve" data-source="post: 5224712" data-attributes="member: 5207"><p>Anyone remember the changes that were made in 2017 to the non-union/management retirement?</p><p></p><p>The 401k changes promised were:</p><p></p><p>Continued 50% of up to 3% match (same as today)</p><p>+ PLUS either 5%(0-4 years), 6%(5-9), 7%(10-14), or 8%(15+ years) direct annual contribution to your 401k</p><p>+ PLUS EXTRA 5% annual additional contribution thru 2027, and 7% each year after if you were eligible for the final average compensation retirement benefit previously</p><p> </p><p>So if you were previously eligible for the final average compensation retirement benefit with 15+ years, you would start receiving an additional 13% + 1.5%(match) into your 401k from UPS until 2027, and then starting in 2028 would be additional 15%+1.5%.</p><p></p><p>Funny how its almost mid year and nothing has been said about that when it supposedly goes into effect next year.</p></blockquote><p></p>
[QUOTE="Scuba_Steve, post: 5224712, member: 5207"] Anyone remember the changes that were made in 2017 to the non-union/management retirement? The 401k changes promised were: Continued 50% of up to 3% match (same as today) + PLUS either 5%(0-4 years), 6%(5-9), 7%(10-14), or 8%(15+ years) direct annual contribution to your 401k + PLUS EXTRA 5% annual additional contribution thru 2027, and 7% each year after if you were eligible for the final average compensation retirement benefit previously So if you were previously eligible for the final average compensation retirement benefit with 15+ years, you would start receiving an additional 13% + 1.5%(match) into your 401k from UPS until 2027, and then starting in 2028 would be additional 15%+1.5%. Funny how its almost mid year and nothing has been said about that when it supposedly goes into effect next year. [/QUOTE]
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2017 Changes to Non-Union Retirement Effective 2023
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