Pacific Coast Benefits Trust acct statement

Discussion in 'UPS Discussions' started by TheDick, Sep 11, 2019.

  1. TheDick

    TheDick Member

    Did your guys get a statement that has a bunch of multi year add one totally out of normal contributions? WTF? Can anybody explain the weirdness?
  2. brownmonster

    brownmonster Man of Great Wisdom

    Can anyone decipher this post?
  3. Poop Head

    Poop Head Lovin' every minute of it!

  4. 542thruNthru

    542thruNthru Well-Known Member

    Pacific coast benefits trust is a side "pension" for PT on the west coast. Once you go FT UPS stops putting contributions into it.

    @TheDick I haven't looked at mine yet so don't know what you're talking about. Can you explain a little clearer?
  5. sandwich

    sandwich The resident gearhead

    The only good thing about being part time for so long. I have about 21k in mine.
  6. MattM

    MattM Active Member

    There are credits either added or deducted onto ones statement(I'm guessing depending on the market). There is also a maintenance fee. I've seen credits +$200, and also -$63, which affect your total account balance.

    Other than that, there isn't much to be seen on the statement.

    Without any contributions, I can see the fees and credits sucking your account dry.

    They recently went with a 7 month statement and 5 month statement vs. 6 and 6.

    Nothing out of the ordinary.
  7. Netsua 3:16

    Netsua 3:16 Stop being a little bitch

    The movie that defined my childhood. Ana f’ing conda
  8. Mycow

    Mycow Member

    Can you withdraw it once your fulltime?
  9. 542thruNthru

    542thruNthru Well-Known Member

    Nope. Sits there till you leave UPS.
  10. Mycow

    Mycow Member

    That's lame. I just got mine and I was wondering y it hasn't really gone up since last time
  11. Been In Brown Too Long

    Been In Brown Too Long Ex-Package Donkey

    Yes, I got the same thing. I've been retired for 1 1/2 years now so there have been no recent contributions. I received my latest statement and it shows contributions and deductions for random months in 2014-2015...WTF?!?20190912_170644.jpg
  12. Been In Brown Too Long

    Been In Brown Too Long Ex-Package Donkey

    That's weird...mine had zero contributions since I'm retired, and my account earned $1057 since the previous statement.

    You cannot touch it until you no longer work at UPS. You also have to adhere to the same rules as your 401k. 59 1/2 before you can touch without penalty unless you roll it into another qualified plan.
  13. Rack em

    Rack em First to worst!

    Our rider has the language saying they contribute for everyone. I've been full time for a while now and they contribute into mine.
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  14. Mycow

    Mycow Member

    I wouldn't mind putting it in my 401k.
  15. 542thruNthru

    542thruNthru Well-Known Member

    Thank you for that information. I did not realize that.

    Also on behalf of all of us. Thank you for keeping that trust funded. ;)

    Seriously I can't wait to tell people that this trust fund is being supported! :)

    When you think about it PT makes a really good pension (including PCBT). I believe about 3k after taxes and what ever they get from the PCBT on top of that. Makes @rod look like a poor man. ;)
  16. rod

    rod #1 on Upstates "list"

    Them part timers get everyting
  17. 542thruNthru

    542thruNthru Well-Known Member

    When real Teamsters like we have in the west support them....

    YES...yes they do. ;)
  18. rod

    rod #1 on Upstates "list"

  19. 542thruNthru

    542thruNthru Well-Known Member

    It sure is when your pension is funded 92% and you have a trust fund on top of it.
  20. Rack em

    Rack em First to worst!

    I thought it was 98%+?