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 Partners
Management Retirement at 59
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="beentheredonethat" data-source="post: 1328179" data-attributes="member: 4886"><p>I don't know the technical details. I do know that older mgmt upsers (like myself) have a pension plan thru UPS and once vested will get a pension. We are also eligible for early retirement at 55 with a minimum number of years. (I don't know since I'll have way more then the min with 33+ years in). However, if I were to leave UPS today well shy of 55. The pension would not increase. I'd have to wait til normal retirement age of 65, and my pension would be reduced by roughly 3% per year I left before 65 (not 55). So at 48. I'd lose 17*3 or 51% of my eligible pension and I wouldn't collect until 65. (A huge cut in benefits). The newer mgmt has a more portable plan which is much more like an additional\seperate 401K\IRA. Where the company puts a defined amount in based on years of service and age of employee.</p></blockquote><p></p>
[QUOTE="beentheredonethat, post: 1328179, member: 4886"] I don't know the technical details. I do know that older mgmt upsers (like myself) have a pension plan thru UPS and once vested will get a pension. We are also eligible for early retirement at 55 with a minimum number of years. (I don't know since I'll have way more then the min with 33+ years in). However, if I were to leave UPS today well shy of 55. The pension would not increase. I'd have to wait til normal retirement age of 65, and my pension would be reduced by roughly 3% per year I left before 65 (not 55). So at 48. I'd lose 17*3 or 51% of my eligible pension and I wouldn't collect until 65. (A huge cut in benefits). The newer mgmt has a more portable plan which is much more like an additional\seperate 401K\IRA. Where the company puts a defined amount in based on years of service and age of employee. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Partners
Management Retirement at 59
Top