Changes In UPS Teamster Pension Checks.

Discussion in 'UPS Retirement Topics' started by olroadbeech, Jun 29, 2019.

  1. olroadbeech

    olroadbeech Happy Verified UPSer

    Since retiring from UPS 4 years ago my pension check has gone up 4 times. Once about 20-25 bucks up a month. a couple times less than 10 dollars .

    Is this a COLA ? It's the gross and not the net . Was wondering if it can go up can they also decrease it?

    Also, I am on the west coast ( Pacific ) which is pretty strong.
  2. 88UPS1969

    88UPS1969 New Member

    So when we retire the amount can change up or down?
  3. oldngray

    oldngray nowhere special

    It shouldn't. Its a defined pension that should be set when you retire. Except for possible corrections to what you were supposed to be getting (for first 5 months?). Net amount can vary slightly because of tax changes. I have never heard of it being more than a few dollars. Nor any COLA.
  4. Indecisi0n

    Indecisi0n Well-Known Member

    It was a clerical error and I went ahead a fixed. We will be deducting the overage from now on.
  5. olroadbeech

    olroadbeech Happy Verified UPSer

    It did go down when we started collecting social security but that was an option I signed up for. Also it will get bumped up $300 a month if my spouse dies before me , also by design.
  6. burrheadd

    burrheadd KING Of GIFS

    Isn’t all the west coast on the (Pacific)
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  7. Shiftless

    Shiftless Active Member

    I'm under the same Pension Trust as olroadbeech I believe.

    Welcome | The Western Conference of Teamsters Pension Trust

    Over 14 years retired and I have had no fluctuation by a COLA.

    Only changes were known changes I selected during the retirement process.

    Maybe its a Nor-Cal thing? I was So-Cal when I retired, which now that area is no longer called So-Cal.
    Last edited: Jun 29, 2019
  8. upschuck

    upschuck Well-Known Member

    CS for a while gave out a 13th check, from what I understand, was because the fund was doing so well, and they couldn't have over a certain% funded. Maybe this is how the western is doing it.
  9. olroadbeech

    olroadbeech Happy Verified UPSer

    There is another fund I think called Pacific Teamsters or Benefits Trust that sends me statements from time to time. I have about $3000 in it that grows and declines depending on the market. We have to cash it out at age 70 1/4 . Can cash out at any time but they withhold 20% for federal taxes.

    Maybe one poster was right and the differences has to do with taxes. I'll double check my statements.
  10. Shiftless

    Shiftless Active Member

    You allow them to with hold taxes?
  11. rod

    rod retired and happy

    Mine hasn't went up or down for 18 years now. Same thing month after month.
  12. olroadbeech

    olroadbeech Happy Verified UPSer

    On the pension you have a choice and can designate a % but on the Pacific I don't think you have a choice and I think that's a good idea anyway. When my folks passed they left us some IRA's which has automatic distributions with fed and state tax with holding. We designated 20% which is more than we need but it makes things better at tax time. We always get refunds.
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  13. Shiftless

    Shiftless Active Member

    My taxes are too complicated as it is. My CPA prefers for me to quarterly.

    Which I is a good thing with the current tax code.

    At least we have a choice!
  14. brownmonster

    brownmonster Man of Great Wisdom

    Certain things happen to certain posters that don't happen to anyone else.
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