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Brown Cafe UPS Forum
UPS Retirement Topics
How does the accrual pension concept work for full timers?
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<blockquote data-quote="Jones" data-source="post: 3974057" data-attributes="member: 4805"><p>Here our plan is accrual only, we don't have a straight "years of service" pension and since the accrual changes most guys have slightly different payouts for 30 years unless they started and retired at the same time. 5% reduction for each year of service under 30 or each year of age under 60, whichever is less ( if you retire at 58 with 25 years of service you would take a 10% reduction for being 2 years under 60 rather than the 25% reduction for 5 years of service under 30).</p><p>Early retirement at age 50 with a 50% reduction on your accrual if you have less than 25 years of service.</p></blockquote><p></p>
[QUOTE="Jones, post: 3974057, member: 4805"] Here our plan is accrual only, we don't have a straight "years of service" pension and since the accrual changes most guys have slightly different payouts for 30 years unless they started and retired at the same time. 5% reduction for each year of service under 30 or each year of age under 60, whichever is less ( if you retire at 58 with 25 years of service you would take a 10% reduction for being 2 years under 60 rather than the 25% reduction for 5 years of service under 30). Early retirement at age 50 with a 50% reduction on your accrual if you have less than 25 years of service. [/QUOTE]
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How does the accrual pension concept work for full timers?
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