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Brown Cafe UPS Forum
UPS Discussions
August 2018
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<blockquote data-quote="retiredTxfeeder" data-source="post: 1711040" data-attributes="member: 52978"><p>Everyone needs to put out a maximum effort during contract time for pensions. It may sound great initially, if everything is paid out like it's supposed to be, but it doesn't go very far. I will give you an example using my situation. I won't give specifics, since I don't have all the exact numbers in front of me, but in-the-ballpark-figures. Here in CS we (up until the last contract) got $100.00/per year of service up to $3500.00. The new contract added $200.00/month to that. Grand total= $3700.00/mo. Now we go downhill. The retirement check is taxable and withheld from like a regular paycheck. (first chunk out of the gross) I wanted to take the $3700 max payout when I retired. Retiree receives the $3700.00/mo till I go to the big brown truck in the sky. Spouse receives $0 at my death. Wife said that's not fair. So we opted for the 80% option. The gross is smaller monthly, but if I predecease, the checks keep coming to the wife for the rest of her life.(second chunk out of the gross). Insurance. Ah, insurance. Wife and I are both not in the best of health. I opted for the $400.00/month insurance for the both of us. (third chunk of the gross) You can imagine what the net amount is after everything is deducted out. Please, everyone, max out your 401k if at all possible. Do everything you can to prepare for your golden years. Get those ducks in a row. Hopefully everyone's pension will stay intact and be there 100% for you when you retire. Thanks for your time. Tex.</p></blockquote><p></p>
[QUOTE="retiredTxfeeder, post: 1711040, member: 52978"] Everyone needs to put out a maximum effort during contract time for pensions. It may sound great initially, if everything is paid out like it's supposed to be, but it doesn't go very far. I will give you an example using my situation. I won't give specifics, since I don't have all the exact numbers in front of me, but in-the-ballpark-figures. Here in CS we (up until the last contract) got $100.00/per year of service up to $3500.00. The new contract added $200.00/month to that. Grand total= $3700.00/mo. Now we go downhill. The retirement check is taxable and withheld from like a regular paycheck. (first chunk out of the gross) I wanted to take the $3700 max payout when I retired. Retiree receives the $3700.00/mo till I go to the big brown truck in the sky. Spouse receives $0 at my death. Wife said that's not fair. So we opted for the 80% option. The gross is smaller monthly, but if I predecease, the checks keep coming to the wife for the rest of her life.(second chunk out of the gross). Insurance. Ah, insurance. Wife and I are both not in the best of health. I opted for the $400.00/month insurance for the both of us. (third chunk of the gross) You can imagine what the net amount is after everything is deducted out. Please, everyone, max out your 401k if at all possible. Do everything you can to prepare for your golden years. Get those ducks in a row. Hopefully everyone's pension will stay intact and be there 100% for you when you retire. Thanks for your time. Tex. [/QUOTE]
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