Moving On

[brownracer]

I'm a manager age 55 with over 25 years with UPS. I have been offered jobs with other companies. Most want me to start within two weeks after leaving. Are there any restrictions with retirement concerning minimum days applying for retirement? What about working for another company-- how does the health benefits work? Is there an advantage to keeping UPS health as primary and other company as secondary; or vice-verse?

 

[Catatonic]

I'm a manager age 55 with over 25 years with UPS. I have been offered jobs with other companies.
1) Most want me to start within two weeks after leaving. Are there any restrictions with retirement concerning minimum days applying for retirement?
2) What about working for another company-- how does the health benefits work?
3) Is there an advantage to keeping UPS health as primary and other company as secondary; or vice-verse?

1) It takes about 60 days from your date of application to get your retirement approved. That is if there are no complications like a divorce with court settlement specifications.

2) Unless you had a separate contract restricting working with competition (highly unlikely) you are free to work anywhere.

3) UPS does not coordinate insurance ... period.
If your new job offers insurance, you have to take theirs.
Same for your spouse.

 

[beentheredonethat]

I have a question on your part 3. I realize for most current retirees where they have a better medical retirement plan that the current Out of pocket is nothing. However, that probably won't be true for future retirees. I was under impression if you owed money for your portion of insurance if you didn't pay it then you lost insurance forever. (Maybe that's an old wive's tale). What do you have to do? Do you tell UPS that you have insurance starting on a certain date then they put you in a hold pattern with insurance. I'm sure the Original poster would want to work at another job for 5-10 years then retire permanently then go back to using UPS insurance to help to cover gaps from medicare.