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UPS Retirement Topics
Ask A Retired Person, Retirement FAQ. ( ON TOPIC )
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<blockquote data-quote="Been In Brown Too Long" data-source="post: 3715617" data-attributes="member: 32249"><p>I just did the same thing. Retired at 49 with 31 years. Opted for the extra $$ on the front end. Yes, it's still an option. I labored over the decision for quite a while before and after signing the paperwork. You have 90 days to change your payout option. I'm now past the 90 days, so I'm locked in. I figured I'd take as much as I could get now while I'm not eligible to collect SS or withdraw from my 401k or IRA. It's been working perfectly. No cash issues at all with just the pension. I figure at 59 1/2 bonus cash if I need it from the 401k and IRA, and at 62/65 the extra icing of SS.</p><p></p><p>I happen to be lucky enough to be in a local in NorCal where we've paid toward retiree medical with a .91/hr withholding that went towards having $0 payments towards medical, dental, and vision for myself and my spouse. </p><p></p><p>Like others have mentioned, being an ex-UPSer, I've been offered many jobs already, but dammit, I'm having just too good a time not working. Having worked at the insane asylum for 31 years really makes not going there every day just that much more satisfying! I'm in no hurry to jump into another work situation. I guess if I get bored, maybe...</p></blockquote><p></p>
[QUOTE="Been In Brown Too Long, post: 3715617, member: 32249"] I just did the same thing. Retired at 49 with 31 years. Opted for the extra $$ on the front end. Yes, it's still an option. I labored over the decision for quite a while before and after signing the paperwork. You have 90 days to change your payout option. I'm now past the 90 days, so I'm locked in. I figured I'd take as much as I could get now while I'm not eligible to collect SS or withdraw from my 401k or IRA. It's been working perfectly. No cash issues at all with just the pension. I figure at 59 1/2 bonus cash if I need it from the 401k and IRA, and at 62/65 the extra icing of SS. I happen to be lucky enough to be in a local in NorCal where we've paid toward retiree medical with a .91/hr withholding that went towards having $0 payments towards medical, dental, and vision for myself and my spouse. Like others have mentioned, being an ex-UPSer, I've been offered many jobs already, but dammit, I'm having just too good a time not working. Having worked at the insane asylum for 31 years really makes not going there every day just that much more satisfying! I'm in no hurry to jump into another work situation. I guess if I get bored, maybe... [/QUOTE]
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