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Brown Cafe UPS Forum
UPS Union Issues
No mention of 25 and out Pension Pay in the teleconference
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<blockquote data-quote="Ms.PacMan" data-source="post: 3675273" data-attributes="member: 4656"><p>I think you'll get more than that. I said before that I didn't know why you get more if your combined (pt+ft) company seniority gives you 30 but I think I do know why. Once you hit your 30 years they (Central States/IBT/UPS) figure your pension using X/30 times years of service equals pension amount. </p><p></p><p>So 26 full time years would be 26/30 x years of service = $.</p><p>So if we do the math 26/30 (30 pays $3400) $3400÷30 makes every year worth $113.33 per year times 26 years of service or 26/30 = $2,946.67 plus your pt pension amount which I believe is $50/ yr minus 6% for every year under the age of 62.</p><p>*they will also figure up the amount using the new contributory pension formula and give you whichever is greater.</p><p></p><p>The $2k and $2500 only apply to people with less than 30 yrs company seniority.</p></blockquote><p></p>
[QUOTE="Ms.PacMan, post: 3675273, member: 4656"] I think you'll get more than that. I said before that I didn't know why you get more if your combined (pt+ft) company seniority gives you 30 but I think I do know why. Once you hit your 30 years they (Central States/IBT/UPS) figure your pension using X/30 times years of service equals pension amount. So 26 full time years would be 26/30 x years of service = $. So if we do the math 26/30 (30 pays $3400) $3400÷30 makes every year worth $113.33 per year times 26 years of service or 26/30 = $2,946.67 plus your pt pension amount which I believe is $50/ yr minus 6% for every year under the age of 62. *they will also figure up the amount using the new contributory pension formula and give you whichever is greater. The $2k and $2500 only apply to people with less than 30 yrs company seniority. [/QUOTE]
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No mention of 25 and out Pension Pay in the teleconference
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