Management Retirement

[FromPartnerToEmployee]

Two years will go incredibly fast. You've already got how many years in? It will be here sooner than you are ready for. As the time gets closer you'll probably question whether or not you should go. Then a driver or two will bring the route back mid day and you'll have to cover it behind three hours late. Then you'll think about next summer and how hot it's going to be and you'll easily make you your mind up that - "I've had enough"

I'm a couple month short of 35 years. As of today, there is no doubt in my mind that I will be leaving. I tell my wife I'm not retiring, but instead the time will be right for a career change. The hardest question will be what that career will be. Maybe meal-on-wheels for the elderly who can't get out??
I just have to hold on for 24 more months.

 

[UpstateNYUPSer(Ret)]

I'm a couple month short of 35 years. As of today, there is no doubt in my mind that I will be leaving. I tell my wife I'm not retiring, but instead the time will be right for a career change. The hardest question will be what that career will be. Maybe meal-on-wheels for the elderly who can't get out??
I just have to hold on for 24 more months.

Our most recent management retiree is driving a school bus on an "as needed" basis and doing volunteer work. His wife is a very successful realtor and they are smart with their money so he really doesn't have to work.

Whether management or hourly, the key is to enter retirement in a solid financial position (debt free) and with something to occupy your time.

 

[FromPartnerToEmployee]

Our most recent management retiree is driving a school bus on an "as needed" basis and doing volunteer work. His wife is a very successful realtor and they are smart with their money so he really doesn't have to work.

Whether management or hourly, the key is to enter retirement in a solid financial position (debt free) and with something to occupy your time.

I agree!! I do not have list of x-wives and we have lived a financially conservative life so I will be okay, as long as I make it to 55. A new job to occupy my time and give me a some vacation money will be nice.

 

[PhatAzz]

I'm a couple month short of 35 years. As of today, there is no doubt in my mind that I will be leaving. I tell my wife I'm not retiring, but instead the time will be right for a career change. The hardest question will be what that career will be. Maybe meal-on-wheels for the elderly who can't get out??

I became ELIGIBLE a couple of weeks ago. Decided to stay through peak and wait until March for the stock. Vacation starts in January - take a week, work a week, take a week, work a week until March. Two weeks off for Bike Week.
A month or so ago, I did have two different drivers in the same week bring their route back halfway through the day. I decided that even if I got moved to another - less stressful - center, that I would still be out on the car next July and August in 100 degree heat. I decided that I was done. I've always planned on working until I was 65-70 anyway, but I'm just tired of 13 hour days. Career change is already in progress. Resume' complete and interviews with headhunters scheduled for mid January. My biggest dilemma is that I've already got 4 separate week long motorcycle trips planned for next year. I will not cancel them. Hopefully I can negotiate / trade off the fact that I don't need health insurance for some vacation time off. I've gotta keep my SS wages up for the next 10 years or get screwed on Social Security. I have had a different attitude about work. I still do my job and still require the drivers to do theirs. That's something that's in most UPSer's DNA. It is nice to get up every morning and go to work because I want to.

 

[FromPartnerToEmployee]

I became ELIGIBLE a couple of weeks ago. Decided to stay through peak and wait until March for the stock. Vacation starts in January - take a week, work a week, take a week, work a week until March. Two weeks off for Bike Week.
A month or so ago, I did have two different drivers in the same week bring their route back halfway through the day. I decided that even if I got moved to another - less stressful - center, that I would still be out on the car next July and August in 100 degree heat. I decided that I was done. I've always planned on working until I was 65-70 anyway, but I'm just tired of 13 hour days. Career change is already in progress. Resume' complete and interviews with headhunters scheduled for mid January. My biggest dilemma is that I've already got 4 separate week long motorcycle trips planned for next year. I will not cancel them. Hopefully I can negotiate / trade off the fact that I don't need health insurance for some vacation time off. I've gotta keep my SS wages up for the next 10 years or get screwed on Social Security. I have had a different attitude about work. I still do my job and still require the drivers to do theirs. That's something that's in most UPSer's DNA. It is nice to get up every morning and go to work because I want to.

Good for you!!! Retire from UPS and go to Bike Week?? Sounds like a recipe for trouble. DRIVE FAST AND TAKE CHANCES!!!! (You know I mean, have fun but be safe!!!)

 

[oldngray]

I became ELIGIBLE a couple of weeks ago. Decided to stay through peak and wait until March for the stock. Vacation starts in January - take a week, work a week, take a week, work a week until March. Two weeks off for Bike Week.
A month or so ago, I did have two different drivers in the same week bring their route back halfway through the day. I decided that even if I got moved to another - less stressful - center, that I would still be out on the car next July and August in 100 degree heat. I decided that I was done. I've always planned on working until I was 65-70 anyway, but I'm just tired of 13 hour days. Career change is already in progress. Resume' complete and interviews with headhunters scheduled for mid January. My biggest dilemma is that I've already got 4 separate week long motorcycle trips planned for next year. I will not cancel them. Hopefully I can negotiate / trade off the fact that I don't need health insurance for some vacation time off. I've gotta keep my SS wages up for the next 10 years or get screwed on Social Security. I have had a different attitude about work. I still do my job and still require the drivers to do theirs. That's something that's in most UPSer's DNA. It is nice to get up every morning and go to work because I want to.

Bike Week?

 

[Dragon]

I became ELIGIBLE a couple of weeks ago. Decided to stay through peak and wait until March for the stock. Vacation starts in January - take a week, work a week, take a week, work a week until March. Two weeks off for Bike Week.
A month or so ago, I did have two different drivers in the same week bring their route back halfway through the day. I decided that even if I got moved to another - less stressful - center, that I would still be out on the car next July and August in 100 degree heat. I decided that I was done. I've always planned on working until I was 65-70 anyway, but I'm just tired of 13 hour days. Career change is already in progress. Resume' complete and interviews with headhunters scheduled for mid January. My biggest dilemma is that I've already got 4 separate week long motorcycle trips planned for next year. I will not cancel them. Hopefully I can negotiate / trade off the fact that I don't need health insurance for some vacation time off. I've gotta keep my SS wages up for the next 10 years or get screwed on Social Security. I have had a different attitude about work. I still do my job and still require the drivers to do theirs. That's something that's in most UPSer's DNA. It is nice to get up every morning and go to work because I want to.

Nice!

 

[Kicked Your Dog]

How come you never hear of any management working into their 70's like some brain dead hourly do? Never mind--I just answered my own question.

Because, they can't go feeder and they're being replaced by brain dead newbies that cost less.

 

[FromPartnerToEmployee]

Any NEW rumors flying around about changes to the Management retirement? My guess is any aggressive change either way, would result in an unmanageable reaction.

• A management buyout or a move to a 80 and out type structure would lead to a mass exodus.
• An increase in the retirement age or an elimination of the pension for a move to a 401-K would result in a mutiny.

For these reasons, I see no changes coming on the Management Retirement Program.
Your thoughts???

 

[silenze]

Every one who was eligible to retire this year already did the day after peak

 

[airops]

Pay caps, cuts in benefits, reductions in positions, haven't resulted in mutiny. I don't think this would either. People would just deal with it and continue on.

 

[bagpipes]

I don't know about that. Any changes impacting retirement or pension would probably result in the exit of those who are able to and those who can afford to leave. Seems like a "last straw" for lots of folks.

The exodus point above also makes sense, but I think it's still possible if they fine tune the eligibility.

 

[airops]

The people that would be affected are already trapped. You can't quit when you are within 10 years of the finish line. The others don't have a UPS pension. They were promoted into management without a pension. They get a 401k match that will never cover a full retirement. So if someone is 50 now and the retirement age gets moved to 59, they will just deal with it. We've all dealt with so much in regards to our total compensation package. This would be just one more.

 

[O/C]

I am expecting the plan administrators will raise the retirement age to 59 or older, also maybe eliminate retiree's health and welfare benefits or modify them with higher deductibles and co-pays. They tend to follow what they can get away with the last collective bargaining agreement, us union folk really can not retire till 57 and that is a long shot. The longer the company can force you to work till 65 or longer the great the cost savings with health coverages.

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[airops]

The retirement age has already been moved to 59 for people recently promoted. They have no pension except the 401k. You can't touch that until 59. So very few will be leaving before that.

 

[Catatonic]

The retirement age has already been moved to 59 for people recently promoted. They have no pension except the 401k. You can't touch that until 59. So very few will be leaving before that.

I know several people that started withdrawing from their 401k in their early 50's.
59 1/2 is one of those Urban legends.
The reason for the 401k versus pension is to decrease UPS financial liability and to encourage people to leave when they get burned out and not motivated.
As far as a UPS retirement ... for those group of people you are referencing, there is no retirement from UPS. You quit when you quit.

 

[UpstateNYUPSer(Ret)]

I know several people that started withdrawing from their 401k in their early 50's.
59 1/2 is one of those Urban legends.
The reason for the 401k versus pension is to decrease UPS financial liability and to encourage people to leave when they get burned out and not motivated.
As far as a UPS retirement ... for those group of people you are referencing, there is no retirement from UPS. You quit when you quit.

http://www.401khelpcenter.com/401k_education/Early_Dist_Options.html#.VNQajp3F_fI

 

[PhatAzz]

Well-Known Member
New
Photog said:
↑
I know several people that started withdrawing from their 401k in their early 50's.
59 1/2 is one of those Urban legends.
The reason for the 401k versus pension is to decrease UPS financial liability and to encourage people to leave when they get burned out and not motivated.
As far as a UPS retirement ... for those group of people you are referencing, there is no retirement from UPS. You quit when you quit.Click to expand...
http://www.401khelpcenter.com/401k_education/Early_Dist_Options.html#.VNQajp3F_fI

Thanks for that info.

 

[airops]

I know several people that started withdrawing from their 401k in their early 50's.
59 1/2 is one of those Urban legends.
The reason for the 401k versus pension is to decrease UPS financial liability and to encourage people to leave when they get burned out and not motivated.
As far as a UPS retirement ... for those group of people you are referencing, there is no retirement from UPS. You quit when you quit.

Do these folks still get health benefits at age 55? If so, then they do have a retirement.

 

[Catatonic]

Do these folks still get health benefits at age 55? If so, then they do have a retirement.

No they don't as I remember.
They get additional % or 2 in 401k match and that's it.
UPS ain't their Daddy.