A Little Confused About Retirement

Discussion in 'UPS Union Issues' started by big_arrow_up, Oct 11, 2007.

  1. Overpaid Union Thug

    Overpaid Union Thug Well-Known Member

    So, for the sake of my question let's assume that the proposed contract is ratified and UPS buys out of Central States. Is the retirment going to be by age or by years of service? Some of us at work were talking and a couple of guys said they thought that anyone with 30 years of service would be able to retire regardless of their age. A couple of others said it would be age 57 and at least 30 years of service. Which is it or is either correct? If the second one is the case then I don't see how people are getting so excited over a difference of 5 years (from age 62).
  2. OldUPSDriver

    OldUPSDriver New Member

    You'll know when you have your contract review this weekend.
  3. fbbothsides

    fbbothsides New Member

    It's 30 years at any age---but believe me--5 years would be a big deal. Download the contract at www.teamsters.org
  4. bears2

    bears2 New Member

    but if you retired before 62 years old with 30 years you take a penalty on the numbers they are throwing at you.you only get the pension stated in these books an videos if you work til 62 years old. an yes 5 years is huge.
  5. av8torntn

    av8torntn Well-Known Member

    In all the books they sent me yesterday none of them say this. They all say I can take the 30 year service pension at any age.
  6. bears2

    bears2 New Member

    but if you look at the early retirement section theres a penalty . it doesnt really say alot about it but even if you have 40 years of service,if you retire before your 62 years old your considered early retired an will take a reduced penalty. the green book they sent us states this in a round about confusing way. i called the # on the back of the book an asked them an its correct,if you retire before your 62 you will take a reduced penalty. the penalty is more than it was in central states by the way
  7. Fnix

    Fnix Active Member

    Wow so I gotta work here for 45 years till I can retire. Cya guys