Management / Non-Union Pension Calculator

Bamboozled

Bamboozled

Active Member
Someone recently pointed this out to me:
There may be an issue with the Retirement Calculator for any Grandfathered Management/Non-Union person (Promoted before 2006). Go into your Retirement Calculator and enter your retirement date with a spousal birthdate. Do it for when your 55, 60 and 65. You will notice that all the Single Life Options are Locked and remain unchanged now that the pension is capped. However you will notice all the Joint Annuities options go down a percent every year. So if you take a spousal annuity every year you stay after 55 it keeps going down??? How can that be correct???
 
DELACROIX

DELACROIX

In the Spirit of Honore' Daumier
w
Bamboozled said:
Someone recently pointed this out to me:
There may be an issue with the Retirement Calculator for any Grandfathered Management/Non-Union person (Promoted before 2006). Go into your Retirement Calculator and enter your retirement date with a spousal birthdate. Do it for when your 55, 60 and 65. You will notice that all the Single Life Options are Locked and remain unchanged now that the pension is capped. However you will notice all the Joint Annuities options go down a percent every year. So if you take a spousal annuity every year you stay after 55 it keeps going down??? How can that be correct???
Click to expand...

Sounds “Greek” to me?? :didimiss:

From my dealings with the retirement department.. they make it up as they go…
 
Last edited:
B

beentheredonethat

Well-Known Member
Bamboozled said:
Someone recently pointed this out to me:
There may be an issue with the Retirement Calculator for any Grandfathered Management/Non-Union person (Promoted before 2006). Go into your Retirement Calculator and enter your retirement date with a spousal birthdate. Do it for when your 55, 60 and 65. You will notice that all the Single Life Options are Locked and remain unchanged now that the pension is capped. However you will notice all the Joint Annuities options go down a percent every year. So if you take a spousal annuity every year you stay after 55 it keeps going down??? How can that be correct???
Click to expand...
I've noticed this issue as well. I doubt it's a mistake, although I wish it was. It is either due to some actuarial table that says if a person leaves early, they and their spouse are more likely to kick the bucket earlier, then if the employee stays longer. Or.. it's a way of giving incentive for an older employee to leave.

Also, not sure if you also checked what they reduced pension by (if any) due to anticipated pension payment from teamsters if you were a teamster before going to management. I know a few guys who retired and had to get a letter from the local unions pension fund saying they weren't eligible due to not having enough years in the union. This was actually a good thing for them, since they got that reduction back into their pension from UPS.
 
DELACROIX

DELACROIX

In the Spirit of Honore' Daumier
beentheredonethat said:
I've noticed this issue as well. I doubt it's a mistake, although I wish it was. It is either due to some actuarial table that says if a person leaves early, they and their spouse are more likely to kick the bucket earlier, then if the employee stays longer. Or.. it's a way of giving incentive for an older employee to leave.

Also, not sure if you also checked what they reduced pension by (if any) due to anticipated pension payment from teamsters if you were a teamster before going to management. I know a few guys who retired and had to get a letter from the local unions pension fund saying they weren't eligible due to not having enough years in the union. This was actually a good thing for them, since they got that reduction back into their pension from UPS.
Click to expand...

It does not matter what pension plan you are under, the writing is on the wall. Every Corporation, Company, Organization and some cases nations are reneging or their pension obligations .... UPS is no different.

This might come into play with our 2023 Contract, if not it will happen in the future...Federal intervention is plausible and what they have and are doing in their Pension trusts will eventually come to light.
 
DELACROIX

DELACROIX

In the Spirit of Honore' Daumier
DELACROIX said:
It does not matter what pension plan you are under, the writing is on the wall. Every Corporation, Company, Organization and some cases nations are reneging or their pension obligations .... UPS is no different.

This might come into play with our 2023 Contract, if not it will happen in the future...Federal intervention is plausible and what they have and are doing in their Pension trusts will eventually come to light.
Click to expand...

Come on guys..It has been a almost a month now and no play...

Somebody must of put the fear of GOD into you or something...:backingout:
 
Thebrownblob

Thebrownblob

Well-Known Member
Dragon said:
another great benefit of going into management...

we have tons of applications...
Click to expand...
1684275330633.gif
 

Similar threads

S
2017 Changes to Non-Union Retirement Effective 2023
2
Replies
22
Views
12K
Karma...
K
bddaddy
New Pension Booklet says 100% at 62!
2
Replies
33
Views
7K
BrownFlush
B
Shiftless
How did you take your retirement payout?
8 9 10
Replies
187
Views
20K
IVE GOTTA PACKAGE 4U
IVE GOTTA PACKAGE 4U
The Milkman
Just My 2 cents
2
Replies
35
Views
6K
CHEMA-DELMA
C
G
Was Offered Career Rural Carrier Position at USPS
2
Replies
35
Views
3K
bacha29
B
Top