part time pension and optional time 401K

derrick

Well-Known 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.
 

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.
 

Jkloc420

Well-Known 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.
depends what your under
 
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