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<blockquote data-quote="DELACROIX" data-source="post: 4799745" data-attributes="member: 49065"><p>I do not know, it was before my time. The UPS Pension plan was started between 1973 and 1976 and was always controlled by UPS the only involvement that the Teamster had was negotiating increases and vesting rights. Almost most of the full timers that were under the Central have vested time in that plan. When we retire we get two separate checks.</p><p></p><p>I do not know if the International ever tried to get those part timers into Central over the years. Those years are calculated in when you left the plan, for example if you have 10 years PT years it would formulated as 10/30 or a third of what a thirty year pension at the time you became full time. The trouble is that plan is subject to a 6 % penalty for every year prior to age 65. So if you left at age 55, your pension benefits are cut by 60% .. that 300 dollar benefit that you would get for those part time years would be cut to roughly 100 dollars.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 4799745, member: 49065"] I do not know, it was before my time. The UPS Pension plan was started between 1973 and 1976 and was always controlled by UPS the only involvement that the Teamster had was negotiating increases and vesting rights. Almost most of the full timers that were under the Central have vested time in that plan. When we retire we get two separate checks. I do not know if the International ever tried to get those part timers into Central over the years. Those years are calculated in when you left the plan, for example if you have 10 years PT years it would formulated as 10/30 or a third of what a thirty year pension at the time you became full time. The trouble is that plan is subject to a 6 % penalty for every year prior to age 65. So if you left at age 55, your pension benefits are cut by 60% .. that 300 dollar benefit that you would get for those part time years would be cut to roughly 100 dollars. [/QUOTE]
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