Part time pension info(indiana)
- Thread starter upser2020
- Start date
PT Car Washer
Banned
Tried looking in the contract book?
Red Headed Stranger
Well-Known Member
You're not vested into the pension plan until you've been with UPS for 5 years. The supplement reads as follows for Part-Time Pension benefits:
Section 2 Part-Time Pension
(1) The UPS Pension Plan will be improved to provide monthly benefits for part-time employees not covered by Teamster Pension Plans 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 Employment on August 1, 2008, he shall receive the sixty dollars ($60.00) benefit formula for the entire 2008 plan year. The total monthly service pension benefit will be equal to the following provided the employee meets the Credited Service requirement. $2,275 for retirement at any age after 35 years of part-time Credited Service $1,950 for retirement at any age after 30 years of part-time Credited Service $1,625 for retirement at age 60 with 25 years of part-time Credited Service $1,325 for retirement at any age with 25 years of part-time Credited Service (based on $53.00 per year of Credited Service) (2) Part-time employees will receive one (1) year of Credited Service for seven hundred fifty (750) or more paid hours. (Six (6) months of part-time Credited Service will be granted for three hundred seventy-five (375) to five hundred (500) hours worked in a calendar year, and nine (9) months of part-time Credited Service will be granted for five hundred one (501) to seven hundred forty-nine (749) hours worked in a calendar year.) This paragraph will also be applied to determine Credited Service for all full-time employees on the payroll on August 1, 2002 who were formerly participants in the UPS Pension Plan. (3) The Employer will be responsible for funding the UPS Pension Plan as required to provide the benefits described above and will be responsible for maintaining the plan. (4) The UPS Pension Plan will be governed by the terms of the Plan document. (5) Effective August I. 2002, the Employer will grant additional years of Credited Service in accordance with the terms of the Plan to all full-time and part-time employees on the payroll on Central Region Supplemental Agreement 28 August 1, 2002, who worked for UPS after they were twenty-one (21) but were denied Credited Service solely because the UPS Pension Plan required that an employee be age twenty-five (25) or older to participate in the UPS Pension Plan. (6) For those multi-employer pension plans with which the UPS Pension Plan does not have reciprocity, the UPS Pension Plan will execute a mutually agreeable reciprocity agreement with those plans. (7) The Company will amend the UPS Pension Plan to allow an employee with an hour of service in covered employment on or after August 1, 2013 to become a participant on the January 1 or July 1 (whichever is earlier), after reaching age 21 and completing a 12-month period of employment beginning on their hire date, or any subsequent calendar year, in which they earned at least 375 hours of service. In addition, in order to receive any retroactive benefit service as a result of the change, the employee’s primary job as of August 1, 2013 must be a part-time position. The Pension Plan will also be amended to reduce the number of hours of service required to earn a vesting year from 750 to 375. This paragraph does not change how benefit service is accrued. The Employer shall provide pension benefit coverage to part-time employees under the terms and conditions as may be contained in the United Parcel Service Pension Plan as required by law. Section 3 The Employer and the Union agree that they will undertake to attempt to establish appropriate reciprocity agreements to protect the pension rights of employees.
Section 2 Part-Time Pension
(1) The UPS Pension Plan will be improved to provide monthly benefits for part-time employees not covered by Teamster Pension Plans 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 Employment on August 1, 2008, he shall receive the sixty dollars ($60.00) benefit formula for the entire 2008 plan year. The total monthly service pension benefit will be equal to the following provided the employee meets the Credited Service requirement. $2,275 for retirement at any age after 35 years of part-time Credited Service $1,950 for retirement at any age after 30 years of part-time Credited Service $1,625 for retirement at age 60 with 25 years of part-time Credited Service $1,325 for retirement at any age with 25 years of part-time Credited Service (based on $53.00 per year of Credited Service) (2) Part-time employees will receive one (1) year of Credited Service for seven hundred fifty (750) or more paid hours. (Six (6) months of part-time Credited Service will be granted for three hundred seventy-five (375) to five hundred (500) hours worked in a calendar year, and nine (9) months of part-time Credited Service will be granted for five hundred one (501) to seven hundred forty-nine (749) hours worked in a calendar year.) This paragraph will also be applied to determine Credited Service for all full-time employees on the payroll on August 1, 2002 who were formerly participants in the UPS Pension Plan. (3) The Employer will be responsible for funding the UPS Pension Plan as required to provide the benefits described above and will be responsible for maintaining the plan. (4) The UPS Pension Plan will be governed by the terms of the Plan document. (5) Effective August I. 2002, the Employer will grant additional years of Credited Service in accordance with the terms of the Plan to all full-time and part-time employees on the payroll on Central Region Supplemental Agreement 28 August 1, 2002, who worked for UPS after they were twenty-one (21) but were denied Credited Service solely because the UPS Pension Plan required that an employee be age twenty-five (25) or older to participate in the UPS Pension Plan. (6) For those multi-employer pension plans with which the UPS Pension Plan does not have reciprocity, the UPS Pension Plan will execute a mutually agreeable reciprocity agreement with those plans. (7) The Company will amend the UPS Pension Plan to allow an employee with an hour of service in covered employment on or after August 1, 2013 to become a participant on the January 1 or July 1 (whichever is earlier), after reaching age 21 and completing a 12-month period of employment beginning on their hire date, or any subsequent calendar year, in which they earned at least 375 hours of service. In addition, in order to receive any retroactive benefit service as a result of the change, the employee’s primary job as of August 1, 2013 must be a part-time position. The Pension Plan will also be amended to reduce the number of hours of service required to earn a vesting year from 750 to 375. This paragraph does not change how benefit service is accrued. The Employer shall provide pension benefit coverage to part-time employees under the terms and conditions as may be contained in the United Parcel Service Pension Plan as required by law. Section 3 The Employer and the Union agree that they will undertake to attempt to establish appropriate reciprocity agreements to protect the pension rights of employees.
I'll cut him some slack because our local is impossible to find a current online version for, and it can be pretty darn hard for a part timer with little time in to get their hands on a contract book. Especially if they haven't hit seniority yet.
Hi!
You local 710?
Here, we get 60 dollars for every current and future year of credited service, with a five year vesting period.
So basically, you get nothing till you've been here 5 years (starting from when you attain seniority), and then you'll have earned 300 dollars monthly at retirement age.
We also have a 25 and out package that earns you $1325 a month at any age.
Your extra hours are worthless as far as extra pension credits go.
You need 750 hours of service for 1 year of PT pension credit.
Half a credit for 375-500, Three quarters for 501-749.
At full time hours, you should have absolutely no problem hitting that threshold.
If you can get your hands on a contract book the section you'll want to look up is article 25, section 8.
UPS is a good career.
I've been here for 5 years at one of the northern most Indiana centers. If that gives you an idea where I'm at.
I'd suggest you reconsider driving, but it's definitely not for everyone.
One thing to watch out for, is there is a minimum age of 21 for participation in the pension program. Before that, the credits don't count.
Based on a cursory look at what @Red Headed Stranger posted, that all looks correct.
But I'd recommend caution, because that is not the article/section number for local 710.
We (and local 705) have our own contract with UPS, and while most of the language is the same, there are some differences.
So it looks correct, but just make sure the sources you take from are applicable to your region.
Shift Inhibit
He who laughs last didn't get it.
Why not shoot for the stars and become a RPCD?! Making the big bucks
Red Headed Stranger
Well-Known Member
Teamsters Local 135 is in Indianapolis, IN.
This sounds like something you'll need to ask your local steward.
I generally don't give any thought to the more southern parts of the state.
710 is north Indiana.
705 is more towards Chicago.
Then I'm just gonna shut up and let you keep listening to @Red Headed Stranger. Lol. Never mind me.
upsgrunt
Well-Known Member
At what age am I eligible for my part time pension if I have retired as full time RPCD? I'm in 710.
542thruNthru
Well-Known Member
Indiana sucks!
Red Headed Stranger
Well-Known Member
It looks like there is a Teamsters Local 357 in Plainfield, Indiana.
