part time pension and optional time 401K

Discussion in 'UPS Retirement Topics' started by derrick, Nov 7, 2019.

  1. derrick

    derrick Member

    been working for ups for 13 years. been part time for 12 and full time for one year. i'm retiring in 14 years and I wanted to know how can I see what my part time pension will be? also in the full time 401K there is a option for optional time . its 0 to 100 percent. if I put it at 100 percent will all my optional time go to the 401K because I was just going to work next year and at the end of the year I think you get paid out for your optional time so I was just going to have it go into my 401K every year.
     
  2. Yes of you put in a percentage for your option time it will go into your 401k
     
  3. Jones

    Jones fILE A GRIEVE! Staff Member

    Article 34
    (i) UPS Part-time Pension Plan

    (1) The UPS Pension Plan will be improved to provide monthly benefits for part-time employees not covered by Teamster PensionPlans as follows: The benefit formula in the UPS Pension Plan for current or future part-time employees who are participants will be increased effective August 1, 2004 to fifty-five dollars ($55.00) for each year of past and future Credited Service to a maximum of thirty-five (35) years of Credited Service. The benefit formula in the UPS Pension Plan for current or future part-time employees who are participants will be increased solely for purposes of the monthly accrued benefit, effective August 1, 2008 to sixty dollars ($60.00) for each year of future Credited Service to a maximum of 35 years of Credited Service. If a participant is in Covered Em-ployment on August 1, 2008, he shall receive the sixty dollars ($60.00) benefit formula for the entire 2008 plan year.
     
  4. Jkloc420

    Jkloc420 Well-Known Member

    depends what your under
     
  5. derrick

    derrick Member

    i started in 2007
     
  6. You got a long way to go
     
  7. clean hairy

    clean hairy Well-Known Member

    Rookie