Part time employee pension

[DELACROIX]

	contract year
years of service	pre 1997	1997​	2008​	2013​	2018​
	monthly benefit
35	1750​	1925​	1925​	2100​	2275​
30	1500​	1650​	1650​	1800​	1950​
25 age 60	1250​	1375​	1375​	1500​	1625​
25	1000​	1125​	1125​	1250​	1325​
increase over prior		175​	0​	175​	175​
contract		150​	0​	150​	150​
		125​	0​	125​	125​
		125​	0​	125​	75​

A 350 dollar improvement for a 35 year service pension over the last 26 years.

2008 - 2013 … (No improvements).. ( The Central States buyout)..

 

[DELACROIX]

Fellow PT that retired recently are receiving the $2275/month pension for 35 years. I don't know why I would get less.

I give up…

 

[PT Car Washer]

@PT Car Washer ...You know and most everybody on this site knows that the pension benefits for all the long term part timers under the UPS Pension Plan have been ignored for decades.

Fact is that you were under Peer 84 in the Western your current retirement benefits would be twice or even three times better than what you will be getting under the Central or Southern. Just from reading your posts you already have over 45 years (part time) and most of that is working full time years.

a. Your service pension is capped at 35 years, no more vesting or benefit increases after that. Those part timers under Peer 84 will continue to get increases no matter how many years they work, I am estimating by the end of 2028 those part time benefits will probably increase to 6000 an month (35 years part time service) any age.

b. Your benefit level is currently 2250 with 35 years in, but that 60 dollar credit year didn't start till 2008..You will be lucky enough to get 2000 if you left now.

Sounds like you are content with those totals or just given up...Just not enough pressure for the Union to negotiate any major improvements for anybody with part time service under the Company Controlled (UPS Pension Plan), that includes most of our Full Timers under the IBT/UPS Pension Fund.

Just got off the phone with a recent PT retiree with over 35 years of service and yes he is receiving $2275/month minus $200 for health insurance and taxes. Single Life Only Annuity. Hoping there is another $175/month increase in this contract.

 

[Coldworld]

Western states pt pension is hours worked. I'm at 32yrs if I retire now my pension is 3300 a month. My health insurance would be 300. a month for couple. The last three years our pension has made extra money that they gave all of us 500. a year bonus added to our pension amount.

How many years were you pt??? Seems light for someone with 32 years in.

 

[Coldworld]

Fellow PT that retired recently are receiving the $2275/month pension for 35 years. I don't know why I would get less.

You have 45 years in and have worked pretty much 2080 hours this whole time?? You should have been credited for up to 2080, even if you were pt. Your pension should be way more than 2200 a month. Call wct plan and have them issue you an hours summary report… it should come with a printout of the different options you can take when you retire and a good estimate of your monthly pension amount for each option. Unless your area doesn’t pay up to 2080 hours, regardless of pt or ft, I would be surprised if you weren’t able to claim double+ from what your coworker was bringing in per month.

 

[cynz]

Our pension is hours worked I have been working 40 hrs from day one. But the first few contracts capped us pt employees. so, I only received pt credit. I average 300. more a month for every year I work towards my monthly pension. I've gotten estimates from the pension, I figure when I retire, I should get 43.000 a year.
I hope most of you guys did the 401k, I put in 5-10 percent for 32 yrs 500.000. Some of my coworkers who put more than me same yrs have 800.000. I also try and tell my coworkers to buy ups stock, at first, we got a 10 percent discount know its 5 percent. The dividends are 1.62 a share, I should be getting 2.000 every quarter. Just sharing positive outcome for anyone that still has a few years left to work. It adds up.

 

[DELACROIX]

You have 45 years in and have worked pretty much 2080 hours this whole time?? You should have been credited for up to 2080, even if you were pt. Your pension should be way more than 2200 a month. Call wct plan and have them issue you an hours summary report… it should come with a printout of the different options you can take when you retire and a good estimate of your monthly pension amount for each option. Unless your area doesn’t pay up to 2080 hours, regardless of pt or ft, I would be surprised if you weren’t able to claim double+ from what your coworker was bringing in per month.

He is in the UPS Pension fund under the Central he gets nothing for his years past 35 years, and no credit for hours worked.

 

[Coldworld]

He is in the UPS Pension fund under the Central he gets nothing for his years past 35 years, and no credit for hours worked.

Ok…for some reason I thought I read he was out west.

 

[badpal]

Our pension is hours worked I have been working 40 hrs from day one. But the first few contracts capped us pt employees. so, I only received pt credit. I average 300. more a month for every year I work towards my monthly pension. I've gotten estimates from the pension, I figure when I retire, I should get 43.000 a year.
I hope most of you guys did the 401k, I put in 5-10 percent for 32 yrs 500.000. Some of my coworkers who put more than me same yrs have 800.000. I also try and tell my coworkers to buy ups stock, at first, we got a 10 percent discount know its 5 percent. The dividends are 1.62 a share, I should be getting 2.000 every quarter. Just sharing positive outcome for anyone that still has a few years left to work. It adds up.

Yeah old part timers that they worked to death back in the old days shuttling missorted air package's all over GODS creation made lots of over 5 overtime. Lots worked every Saturday too and ended up working more hours than full timers. Great then, but at pension time in central states kinda get left hanging. Consider yourself lucky.

 

[saintrick]

Updated to include 2023 agreement.

	contract year
years of service	pre 1997	1997​	2008​	2013​	2018​	2023​
any age	monthly benefit
35	1750​	1925​	1925​	2100​	2275​	2450​
30	1500​	1650​	1650​	1800​	1950​	2100​
25 age 60	1250​	1375​	1375​	1500​	1625​	1750​
25	1000​	1125​	1125​	1250​	1325​	1450​
		175​	0​	175​	175​	175​
increase over		150​	0​	150​	150​	150​
prior contract		125​	0​	125​	125​	125​
		125​	0​	125​	75​	125​

 

[saintrick]

Language added to the pension article in the Southern Supplement for 2023.

All applicable Local Unions will be provided with a competent and knowledgeable Company
contact person with a working phone number to assist employees with questions and concerns

 

[IVE GOTTA PACKAGE 4U]

Updated to include 2023 agreement.

	contract year
years of service	pre 1997	1997​	2008​	2013​	2018​	2023​
any age	monthly benefit
35	1750​	1925​	1925​	2100​	2275​	2450​
30	1500​	1650​	1650​	1800​	1950​	2100​
25 age 60	1250​	1375​	1375​	1500​	1625​	1750​
25	1000​	1125​	1125​	1250​	1325​	1450​
		175​	0​	175​	175​	175​
increase over		150​	0​	150​	150​	150​
prior contract		125​	0​	125​	125​	125​
		125​	0​	125​	75​	125​

That's no ing money..

 

[Free Thinker]

Sorry I don't have much helpful advice; I wasn't even aware of "Teamcare." Someone mentioned the fact that you will soon be able to tap into Social Security and Medicare. I would definitely look into Medicare.

Heads up, though: Republican pResidential candidates are openly talking about attacking social security. Even worse, the Democrats may have beat them to it. With the national debt over $30 trillion, the U.S. military guzzling as much money as ever, and the Trump/Biden war against China blowing up in their faces, there have been suggestions that social security might start slipping in about eight or nine years - even without the Republicans' help.

The problems are piling up fast. I'm lucky, because I'm a veteran, but I still like having civilian health care at the same time. One time a civilian hospital misdiagnosed me, and the VA saved my life. But there was another situation where it was just the opposite.

Another to thing to consider is moving to another country. It's getting harder and harder to survive in the U.S., and things just seem to keep going downhill.

 

[MattM]

What would cause a 65-70 cent discrepancy in a hourly pension contribution?

Random fees or the full amount isn’t being contributed?

I’m in the western conference region WCT.

What should be a pension contribution of $11.33 is actual just $10.64 when it’s all said and done.

They’re contribution the proper 40 cents to the PCT.

I’m now looking at prior years and they’ve never contributed the ‘proper’ amount.

Now with the new contract and just 25 cents going to pension increases, it seems like that west region may only give us 5-10 cents extra