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Brown Cafe UPS Forum
UPS Retirement Topics
500 hours left in 2015 for My Freedom
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<blockquote data-quote="onestoptogo" data-source="post: 1483121" data-attributes="member: 28490"><p>Here is the way you calculate how much extra will be added to your pension for 2015 hours in the Western Conference :</p><p></p><p>Take your total hours compensated to a maximum of 2080.</p><p></p><p>Go to your local rider in your union books to find out how much UPS is contributing to your pension. The rate on August 1, 2012 for me was $9.83. Now add 50 cents for the raise to the pension on August 1, 2013 to get a total $10.33. I believe the raise to the pension on August 1, 2014 was diverted to healthcare, but I could be wrong.</p><p></p><p>Take the $10.33 and subtract 16.5%. (10.33 x .165 = 1.704) 10.33-1.70 = 8.63</p><p>The 16.5% reduction is used to fund the PEER 80.</p><p></p><p>Take your total hours and multiply by $8.63. I will use the maximum of 2080.</p><p>(8.63 x 2080 = $17,950.4) Thank-you UPS</p><p></p><p>Now you take the current accrual rate of 1.2% and multiply it by $17,950.4 =$215.40</p><p></p><p>Your pension will increase $215.40 per month for working 2080 hours in the year 2015.</p><p></p><p>It could be higher if they don't divert the raise on August 1, 2015.</p></blockquote><p></p>
[QUOTE="onestoptogo, post: 1483121, member: 28490"] Here is the way you calculate how much extra will be added to your pension for 2015 hours in the Western Conference : Take your total hours compensated to a maximum of 2080. Go to your local rider in your union books to find out how much UPS is contributing to your pension. The rate on August 1, 2012 for me was $9.83. Now add 50 cents for the raise to the pension on August 1, 2013 to get a total $10.33. I believe the raise to the pension on August 1, 2014 was diverted to healthcare, but I could be wrong. Take the $10.33 and subtract 16.5%. (10.33 x .165 = 1.704) 10.33-1.70 = 8.63 The 16.5% reduction is used to fund the PEER 80. Take your total hours and multiply by $8.63. I will use the maximum of 2080. (8.63 x 2080 = $17,950.4) Thank-you UPS Now you take the current accrual rate of 1.2% and multiply it by $17,950.4 =$215.40 Your pension will increase $215.40 per month for working 2080 hours in the year 2015. It could be higher if they don't divert the raise on August 1, 2015. [/QUOTE]
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