Changes In UPS Teamster Pension Checks.

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.
 

oldngray

nowhere special
So when we retire the amount can change up or down?
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.
 

Indecisi0n

Well-Known Member
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.
It was a clerical error and I went ahead a fixed. We will be deducting the overage from now on.
 

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.
 

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.
 

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.
 

Shiftless

Well-Known Member
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.

You allow them to with hold taxes?
 

olroadbeech

Happy Verified UPSer
You allow them to with hold taxes?
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.
 

Shiftless

Well-Known 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!
 

brownmonster

Man of Great Wisdom
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.
Certain things happen to certain posters that don't happen to anyone else.
 

twoweeled

Well-Known Member
You peoples seem to be up on all this. I'm running into a situation here (divorce). I have referred to my pension as "UPS Pension". Legally, isn't it "Western Conference of Teamsters Pension", assuming of course I'm on the west coast. I always referred to it as UPS Pension. I'm wrong aren't I? I gotta say. I'm dealing with Western Conference of Teamsters in Seattle WA. They have been about as helpful as a wart on my, , , , butt! Pasadena and Brisbane were helpful when I was able to deal with one person there, but I have to deal with Seattle now. Trying to find a way around these two women now, but I fear that's all there is. I'm still looking for a way around them.
 

Shiftless

Well-Known Member
You peoples seem to be up on all this. I'm running into a situation here (divorce). I have referred to my pension as "UPS Pension". Legally, isn't it "Western Conference of Teamsters Pension", assuming of course I'm on the west coast. I always referred to it as UPS Pension. I'm wrong aren't I? I gotta say. I'm dealing with Western Conference of Teamsters in Seattle WA. They have been about as helpful as a wart on my, , , , butt! Pasadena and Brisbane were helpful when I was able to deal with one person there, but I have to deal with Seattle now. Trying to find a way around these two women now, but I fear that's all there is. I'm still looking for a way around them.

Yes your Pension monies come from Welcome | The Western Conference of Teamsters Pension Trust Your divorce is probably your issue correct?
 

rod

Retired 19 years
You peoples seem to be up on all this. I'm running into a situation here (divorce). I have referred to my pension as "UPS Pension". Legally, isn't it "Western Conference of Teamsters Pension", assuming of course I'm on the west coast. I always referred to it as UPS Pension. I'm wrong aren't I? I gotta say. I'm dealing with Western Conference of Teamsters in Seattle WA. They have been about as helpful as a wart on my, , , , butt! Pasadena and Brisbane were helpful when I was able to deal with one person there, but I have to deal with Seattle now. Trying to find a way around these two women now, but I fear that's all there is. I'm still looking for a way around them.
Good luck but you are screwed. Next thing you know you will be posting about how you have worked 40+ years and don’t plan to retire because you don’t want your ex to get any of it,.
 

twoweeled

Well-Known Member
Good luck but you are screwed. Next thing you know you will be posting about how you have worked 40+ years and don’t plan to retire because you don’t want your ex to get any of it,.
LOL! Not me, Rod. I'm already retired. But getting back to the original question. Do you have an answer for me?
 

542thruNthru

Well-Known Member
LOL! Not me, Rod. I'm already retired. But getting back to the original question. Do you have an answer for me?

Yes the pension is not a UPS pension. It's the teamsters pension plan because it's the pension plan for teamsters in multiple different companies.

The western conference of teamsters pension plan.
Like @Shiftless posted.
Welcome | The Western Conference of Teamsters Pension Trust

Also @rod doesn't know anything except how to post a YouTube video of a cat slamming a stuffed animal. :)
 
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