EARLY EARLY retirement

[YesYouDidPushAButton]

I've been with Big Brown for exactly 10 years now. Full time driving since mid 06. I've had a very small hobby business since 02 that I've done a little bit with over the years. The last 2 years I got deep into it. I'm doing VERY well. I'm driving 9.5-10.0 days and working at my business 4 hours/night every night. And putting in 10+ hour days sat and sun every weekend. I'm at the point I'm losing money because I can't be there. I have 2 employees, I'm 29 yo and I think it may be time. I'm scared to death in this economy to leave a job at this pay/benefits, etc. Especially being young and having this much time invested.

In the past year I've paid off all my C/C debt, we downsized our house, new mortgage is about 800/month. She makes decent money, paid off both our reliable vehicles, etc. I'm not one that complains but I despise my job and the people I work with, I just bite my tongue and do it.

I'm taking a couple weeks off early February to take care of some things, and I've considered not going back

If I leave would I be eligible for anything at all since I've been there ? I'm not too familiar with how the pensions work, I just know I havent been there 20 years, but I dont know if I get nothing or what.

Do I quit or is there a way to "retire" ?

I've also been speaking with my stewards about bidding down to a part time job in my center for a couple hours at night to keep my benefits/seniority.

Can anyone try to guide me ?

 

[JonFrum]

Normally a full-timer can't bid down to part-time. But it may be possible where you are. I don't know for sure.

Usually you need at least five years Vesting Service to be eligible for a (very small) pension, which will be payable monthly starting at "Normal Retirement Age," which is typically age 65.

The various regional pension plans have websites and Summary Plan Descriptions that explain it all.

Which plan, or plans, are you in? If you were part-time in one plan and full-time in another you may just barely qualify in both plans.

 

[over9five]

How about a "leave of absence" for six months to see how things progress? Leaves you the option to come back if you're not making it in your new job. I believe both the company and the union would have to agree, Jon would know the language.
Good luck.

 

[UpstateNYUPSer(Ret)]

Over, the LOA is a good idea in this situation. I would also look in to the possibility of going back to PT, which would not only give the OP the break that he is looking for but would give the next PTer in line a FT job.

 

[rod]

Unless things have changed (feel free to jump in here Nancy) the "leave of absence thing" don't fly at UPS. At least not in my part of the world. We had a driver who was in the same situation (except he was about 6 months shy of 10 years) when he tried to get a LOA. They refuse-he quit.

 

[over9five]

I only say it because we had a driver (maybe 15 years back) who wanted to start his own business. I believe the union suggested the leave of absence just in case it didn't work out. This driver did not take it because he wanted to make his business work without being able to take the easy way out.
This is not to say the company would have allowed the LOA, I don't know. I'm sure I've read somewhere that it's possible to do this as long as both the company and the union agree to it.

Last I heard, his auto body repair shop was doing very well.

 

[toonertoo]

Never heard of anyone getting a leave of abscence except for the military or a monastery. Quit, live your dream, change is scary, but challenging, go for it.

 

[JonFrum]

Sorry. Taking a leave of absence to work somewhere else is not allowed.

ARTICLE 16. LEAVE OF ABSENCE
Section 2.
Any employee desiring leave of absence from employment shall secure written permission from both the Union and the Employer. The request for leave of absence shall be made in writing at least thirty (30) days before the day on which the leave is sought to commence. If the leave is not foreseeable, the employee shall submit the written request as soon as possible and shall include an explanation why the leave was not foreseeable. The Employer and Union shall respond to the request in writing within ten (10) days after receiving the request. The maximum leave of absence shall be for ninety (90) days and may be extended for like periods. Permission for same must be secured from both the Union and the Employer. During the period of absence, the employee shall not engage in gainful employment, except as provided in Section 3 [Driver Temporary Loss of Driver's License] below.

Failure to comply with this provision shall result in the complete loss of seniority rights for the employees involved. Inability to work because of proven sickness or injury shall not result in the loss of seniority rights. The employee may make suitable arrangements for the continuation of health and welfare and pension payments before the leave may be approved by either the Local Union or the Employer.

 

[YesYouDidPushAButton]

I was thinking about attempting the medical LOA all along.

1, about 6 months ago I took a tumble down some metal stairs and sprained both of my ankles
Reported it, did all the injury stuff, I was out 2 weeks. I've recently had some legitimate pain issues in my lower left calf and ankle that me and my Dr. feel is part of my past injury. I've considered using that to attempt a LOA, my Dr. is willing to play ball....

2, last year outside of work I was rearended by a decent size truck and have some cervical spinal injury and a couple compressed discs, I still get treated for that to this day. I've thought about trying to use that too. My direct supervisors know about my business, and I've mentioned LOA to them in the past. I was basically asked to at least try it after peak.

 

[Mr Shifter]

Quit and live without your means. I'm sure plenty of part timers want your job.

 

[UpstateNYUPSer(Ret)]

If your mgt team is open to the idea of a LOA I would think the Union would sign off on it as well. You could get your business off the ground and the rest would help you heal physically.

 

[Catatonic]

Quit and live without your means. I'm sure plenty of part timers want your job.

I have a lot of respect for someone who is leaving the relative security of a friend/T UPS job to go out and start their own business.

As I look back on my last 40 years, that is something I never had the courage to do but always wanted the experience and feeling of self-worth that comes with it.

 

[moreluck]

I have a lot of respect for someone who is leaving the relative security of a friend/T UPS job to go out and start their own business.

As I look back on my last 40 years, that is something I never had the courage to do but always wanted the experience and feeling of self-worth that comes with it.

It would be hard when you hear all the high percentages of businesses that fail reported by different studies.....seems marriages have a better chance.