Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
How to retire from UPS
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Camping Nana" data-source="post: 701695" data-attributes="member: 15902"><p>DH went out at over 36 years with the company at 57 years old. He gave his management team a spreadsheet with the weeks after his last "work" day all lined out as to which weeks would be vac, which would be a combo of option days and sick bank, etc. He chose the last day of a month to be his last "employment" date so that he would begin receiving his pension on the first of the month that his actual separation from UPS began. So, he had over 2 months that he continued to be "employed" by UPS and received weekly checks - but was "retired". There were about 12 sick days left that he cashed out. With local management everything moved smoothly like clock work - however, payroll's interpretation of contract language regarding "accumulated" vacation time and our interpretation (as well as local mgt) was not the same - therefore, we felt that UPS cheated us of about 20 days pay.... but.... after fighting it to a certain level (we could have pursued it further), we decided that the stress and time involved with fighting it just wasn't worth the effort! It was time to put it behind us and get on with retirement - and it's all good! <img src="/community/styles/default/xenforo/smilies/FeltTip/happy2.png" class="smilie" loading="lazy" alt=":happy2:" title="Happy2 :happy2:" data-shortname=":happy2:" /></p><p></p><p>I will say this regarding your insurance..... DO make sure that you have all your ducks in a row regarding medical coverage. We had spoken to our union local, the insurance administrators, and pension administrators - thought we had every base covered. Had even told them that we were planning to move to a different state.... "oh, no problem - you will have coverage..." HOWEVER, <strong>no one </strong>bothered to let us know that yes, we would have coverage, but we would be considered "out of network" - therefore, we would be responsible for not only our increased percentage, but the difference between the "usual and customary fee" and what was actually charged. This was quite a shocker! <img src="/community/styles/default/xenforo/smilies/FeltTip/sick.png" class="smilie" loading="lazy" alt=":sick:" title="Sick :sick:" data-shortname=":sick:" /> Not that it would have made any difference in our decision to move, but we would have been mentally prepared for the increase in our medical expenses. </p><p></p><p>All that being said............... Retirement has been wonderful! Begin planning now - talk to a financial advisor regarding your 401K investments and any planned withdrawals and/or rollovers. make sure you have FULL confidence in your financial advisor... once again, we received incorrect information regarding a rollover - it worked out okay, but potentially could have been disastrous ! Fortunately, we have a great financial guy and helped us out with that! <img src="/community/styles/default/xenforo/smilies/FeltTip/happy-very.png" class="smilie" loading="lazy" alt=":happy-very:" title="Happy Very :happy-very:" data-shortname=":happy-very:" /></p><p></p><p>Good luck and God bless!</p></blockquote><p></p>
[QUOTE="Camping Nana, post: 701695, member: 15902"] DH went out at over 36 years with the company at 57 years old. He gave his management team a spreadsheet with the weeks after his last "work" day all lined out as to which weeks would be vac, which would be a combo of option days and sick bank, etc. He chose the last day of a month to be his last "employment" date so that he would begin receiving his pension on the first of the month that his actual separation from UPS began. So, he had over 2 months that he continued to be "employed" by UPS and received weekly checks - but was "retired". There were about 12 sick days left that he cashed out. With local management everything moved smoothly like clock work - however, payroll's interpretation of contract language regarding "accumulated" vacation time and our interpretation (as well as local mgt) was not the same - therefore, we felt that UPS cheated us of about 20 days pay.... but.... after fighting it to a certain level (we could have pursued it further), we decided that the stress and time involved with fighting it just wasn't worth the effort! It was time to put it behind us and get on with retirement - and it's all good! :happy2: I will say this regarding your insurance..... DO make sure that you have all your ducks in a row regarding medical coverage. We had spoken to our union local, the insurance administrators, and pension administrators - thought we had every base covered. Had even told them that we were planning to move to a different state.... "oh, no problem - you will have coverage..." HOWEVER, [B]no one [/B]bothered to let us know that yes, we would have coverage, but we would be considered "out of network" - therefore, we would be responsible for not only our increased percentage, but the difference between the "usual and customary fee" and what was actually charged. This was quite a shocker! :sick: Not that it would have made any difference in our decision to move, but we would have been mentally prepared for the increase in our medical expenses. All that being said............... Retirement has been wonderful! Begin planning now - talk to a financial advisor regarding your 401K investments and any planned withdrawals and/or rollovers. make sure you have FULL confidence in your financial advisor... once again, we received incorrect information regarding a rollover - it worked out okay, but potentially could have been disastrous ! Fortunately, we have a great financial guy and helped us out with that! :happy-very: Good luck and God bless! [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
How to retire from UPS
Top