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Brown Cafe UPS Forum
UPS Retirement Topics
part time pension and optional time 401K
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<blockquote data-quote="Jones" data-source="post: 4258061" data-attributes="member: 4805"><p><em><strong>Article 34</strong></em></p><p><em>(i) UPS Part-time Pension Plan</em></p><p><em></em></p><p><em>(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.</em></p></blockquote><p></p>
[QUOTE="Jones, post: 4258061, member: 4805"] [I][B]Article 34[/B] (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.[/I] [/QUOTE]
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