New IBT/UPS Pension plan.

Discussion in 'UPS Retirement Topics' started by bears2, Oct 28, 2008.

  1. bears2

    bears2 New Member

    Has anyone got their new summary plan booklet for the new pension plan?
    I looked it over and i understand early retirement you take a penalty and all,most the guys i work with will have 40 years in at 60 years old.We all started in the air district in the mid 1980's at 18-20 years old.My concern is with the examples given. A part time 30 year pension is $751.00.So if you worked 5 years p-t you would get 125.00 part time ppension when you turn 65...10 years part time would be 250.00 or so part time pension + whatever your full-time pension. My problem /question is at least here in the air district we receive 55.00 /yr for each part time year if still p-t before i think 1997. AND 80.00/yr for each 6 hr/yr if pt before i think 1992 .andways,i may have numbers slightly off but 55.00/year doesnt translate into 751/30 year pension. Anyone have any info on whats going on here?