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Brown Cafe UPS Forum
UPS Retirement Topics
Can you retire 30 and out..Local 705
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<blockquote data-quote="DELACROIX" data-source="post: 4373770" data-attributes="member: 49065"><p>6 percent reduction for every year prior to age 65 for your Part time years in the Central and Southern (UPS Pension Plan). So if you retire at age 55 your monetary benefits will be cut by 60 %. Basically you get squat for those 8 years unless you want to work till age 65 and probably get less than 300 dollars a month under the current pension formula...</p><p></p><p>Your health and welfare insurance once you retire could go up even if you retire, nothing is locked in till age 65 when Medicare kicks in. I personally expect in the future negotiations a big push to eliminate any early retirement, particularly at age 55 or younger, raising the age requirements for retiree's health coverages will be on the table.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 4373770, member: 49065"] 6 percent reduction for every year prior to age 65 for your Part time years in the Central and Southern (UPS Pension Plan). So if you retire at age 55 your monetary benefits will be cut by 60 %. Basically you get squat for those 8 years unless you want to work till age 65 and probably get less than 300 dollars a month under the current pension formula... Your health and welfare insurance once you retire could go up even if you retire, nothing is locked in till age 65 when Medicare kicks in. I personally expect in the future negotiations a big push to eliminate any early retirement, particularly at age 55 or younger, raising the age requirements for retiree's health coverages will be on the table. [/QUOTE]
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Can you retire 30 and out..Local 705
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