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Brown Cafe UPS Forum
UPS Union Issues
401K info please
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<blockquote data-quote="PT Stewie" data-source="post: 703524" data-attributes="member: 12889"><p>Never mind the match. You work for one of the few companies that still have a <strong><u>pension plan</u></strong> Assumming you are part time you get a $60.00 per month pension credit times the number of years service at age 65. This is based on 750 hrs worked in a calender year with a vesting requirement of 5 years. Less than 750 is pro rated and you still get dollars for that year. A pretty good deal The teamsters 401K is a bounus to your retirement or vise versa. I am on the north side of fifty and am able to but 45% pretaxed dollars into the 401K plus 5% post tax and have 13 years PT pension credits.</p><p> Stoni it all depends where you are at. If you are part time looking to get full time you may not make vesting (5 years). If you get full time you have the UPS/IBT full time plan( a lot more than pt) plus the 401K. All in all a lot better than most companies.</p></blockquote><p></p>
[QUOTE="PT Stewie, post: 703524, member: 12889"] Never mind the match. You work for one of the few companies that still have a [B][U]pension plan[/U][/B] Assumming you are part time you get a $60.00 per month pension credit times the number of years service at age 65. This is based on 750 hrs worked in a calender year with a vesting requirement of 5 years. Less than 750 is pro rated and you still get dollars for that year. A pretty good deal The teamsters 401K is a bounus to your retirement or vise versa. I am on the north side of fifty and am able to but 45% pretaxed dollars into the 401K plus 5% post tax and have 13 years PT pension credits. Stoni it all depends where you are at. If you are part time looking to get full time you may not make vesting (5 years). If you get full time you have the UPS/IBT full time plan( a lot more than pt) plus the 401K. All in all a lot better than most companies. [/QUOTE]
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