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Brown Cafe UPS Forum
UPS Retirement Topics
Newbie Pension Questions Local 396
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<blockquote data-quote="UPS_Newbie" data-source="post: 290808" data-attributes="member: 13734"><p>I have some real newbie questions about our pension plan for Local 396 here in Southern California. When I joined UPS in mid Sept 2007, one of the big reasons they gave me for sticking around is the pension plan. In looking at the Brown Cafe (BC) I see the information mostly covers long time workers or the "Central States" buyout plan. Now that peak season is over and our hours for part-timers like me are going through the floor, I want to know what I can look forward to.</p><p> </p><p>At 30 years old, I have been told that I will be part-time for 5 years or so before I might become full-time via a "Combo Job" or 7-8 years as a driver. Some posts I have read suggest that I will have to work full-time for 30 years to gain the pension. While I might like to be a driver, I don't know if I want to be a 65 year old driver to earn my pension. If anyone can point me in the right direction to find out what the current pension plan is for local 396 I would be grateful. </p><p> </p><p>Assuming I can earn the full-timers pension, what is the payout per month that I can expect? The few posts I found on the subject suggest only a payout of $2750 or so. While this is not chump change, $33,000 /year doesn't buy that much in Los Angeles. Few people I work with outside of management participate in our 401K plan so I don't even know what kind of matching plan we have.</p><p> </p><p>Thanks in Advance for any help you can provide to clear up my confusion. HR in my hub is not very helpful, they simply don't know the answers to my questions about our pension and have suggested I go to the union meeting to get answers.</p></blockquote><p></p>
[QUOTE="UPS_Newbie, post: 290808, member: 13734"] I have some real newbie questions about our pension plan for Local 396 here in Southern California. When I joined UPS in mid Sept 2007, one of the big reasons they gave me for sticking around is the pension plan. In looking at the Brown Cafe (BC) I see the information mostly covers long time workers or the "Central States" buyout plan. Now that peak season is over and our hours for part-timers like me are going through the floor, I want to know what I can look forward to. At 30 years old, I have been told that I will be part-time for 5 years or so before I might become full-time via a "Combo Job" or 7-8 years as a driver. Some posts I have read suggest that I will have to work full-time for 30 years to gain the pension. While I might like to be a driver, I don't know if I want to be a 65 year old driver to earn my pension. If anyone can point me in the right direction to find out what the current pension plan is for local 396 I would be grateful. Assuming I can earn the full-timers pension, what is the payout per month that I can expect? The few posts I found on the subject suggest only a payout of $2750 or so. While this is not chump change, $33,000 /year doesn't buy that much in Los Angeles. Few people I work with outside of management participate in our 401K plan so I don't even know what kind of matching plan we have. Thanks in Advance for any help you can provide to clear up my confusion. HR in my hub is not very helpful, they simply don't know the answers to my questions about our pension and have suggested I go to the union meeting to get answers. [/QUOTE]
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