NorCal Retirement

[IVE GOTTA PACKAGE 4U]

Just curious....What would a 11 year part time and a 33 full timer ..66 year old retiree clear in the Nor Cal pension? Just asking for friend...

$7

 

[Been In Brown Too Long]

Just curious....What would a 11 year part time and a 33 full timer ..66 year old retiree clear in the Nor Cal pension? Just asking for friend...

I really have no idea. I don't know what formula they use to come up with the dollar amounts. All I was able to do was furnish my particular numbers. I do know it's based on actual contributions made by UPS to the fund for the 2080 hours worked annually. My part time hours for my three years were consistently right around 1400. I do know the $$ doesn't go up very much annually from there. Certainly not enough to entice me to stay!

 

[DELACROIX]

44 years at UPS? You may as well stay. Your life is over anyway.

Thanks...I do plan to leave the property feet first...

 

[1989]

Just curious....What would a 11 year part time and a 33 full timer ..66 year old retiree clear in the Nor Cal pension? Just asking for friend...

WCT PENSION
Looking backwards is more difficult than looking forwards. With our JC contributions and accrual of 1.2 in 2019, our payout was about 3100 for that year. Our contributions increased for 2020 plus the accrual rate increased from 1.2 to 1.5. So the 2020 payout will be at least 25% higher.

If you work past age 65 you get over 100% of your pension. For example if you work until 66 and 6 months you will get 114.4% of your pension. At age 70 it’s 148%.

 

[1989]

It's all going to depend on your retirement elections (spousal benefit, death benefits, etc). I'm in NorCal, and with 28 years FT and 3 years PT I was offered $4416 as my highest highest payment with no spousal benefit and having a reduction at 62. The real bonus I got was $0 retirement healthcare for both myself and my wife. Nevermind all the scribble, that was the guy from the pension office explaining all my options at the appointment. I received a little more than what these estimates showed as I worked longer than this page projected, but retired at age 49.

One can request this estimate of benefits once a year, at least in the west.