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Part time pension info(indiana)
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<blockquote data-quote="DELACROIX" data-source="post: 5019649" data-attributes="member: 49065"><p>Just count on your full time years, generally part time years account for nothing, unless you are under the Western Conferences. <img src="/community/styles/default/xenforo/smilies/emoticons/notalone.gif" class="smilie" loading="lazy" alt=":notalone:" title="Notalone :notalone:" data-shortname=":notalone:" /></p><p></p><p>Here is the formula for anybody with vested time under "The UPS Pension Plan" for part timers:</p><p></p><p></p><p><img src="/community/styles/default/xenforo/smilies/2012/fantasysmiley.gif" class="smilie" loading="lazy" alt=":fantasysmiley:" title="Fantasysmiley :fantasysmiley:" data-shortname=":fantasysmiley:" /></p><p></p><p>Let us say you have <strong>5 </strong>years in as a part timer and then get promoted to full time. Those years are registered as <strong>5/30</strong> of what a the benefit that is promised at the time that you leave that pension plan. I believe that for a <strong>30</strong> year service pension around <strong>1650</strong> currently. Doing the quick math that will be roughly <strong>425</strong> a month, but the <strong>catch</strong> is for every year prior to age <strong>65</strong> the Company will subtract a <strong>6 % penalty....So your total for those part time years will be around <span style="color: rgb(184, 49, 47)">200 </span><span style="color: rgb(0, 0, 0)">dollars...<img src="/community/styles/default/xenforo/smilies/group1/thumbdown.gif" class="smilie" loading="lazy" alt=":thumbdown" title="Thumbdown :thumbdown" data-shortname=":thumbdown" /><img src="/community/styles/default/xenforo/smilies/group1/thumbdown.gif" class="smilie" loading="lazy" alt=":thumbdown" title="Thumbdown :thumbdown" data-shortname=":thumbdown" /></span></strong></p><p></p><p>That is now added on to your full time years which is under a separate pension plan and then you would get your final retirement benefit when you decide to sign the papers..<img src="/community/styles/default/xenforo/smilies/2012/dontgosmiley.gif" class="smilie" loading="lazy" alt=":dontgosmiley:" title="Dontgosmiley :dontgosmiley:" data-shortname=":dontgosmiley:" /></p><p></p><p></p><p><img src="/community/styles/default/xenforo/smilies/emoticons/bigsmile.gif" class="smilie" loading="lazy" alt=":bigsmile2:" title="Bigsmile :bigsmile2:" data-shortname=":bigsmile2:" /></p><p></p><p></p><p></p><p>P.S. this is all subject to future negotiations so you better vote for the people who will have your back on pension improvements.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5019649, member: 49065"] Just count on your full time years, generally part time years account for nothing, unless you are under the Western Conferences. :notalone: Here is the formula for anybody with vested time under "The UPS Pension Plan" for part timers: :fantasysmiley: Let us say you have [B]5 [/B]years in as a part timer and then get promoted to full time. Those years are registered as [B]5/30[/B] of what a the benefit that is promised at the time that you leave that pension plan. I believe that for a [B]30[/B] year service pension around [B]1650[/B] currently. Doing the quick math that will be roughly [B]425[/B] a month, but the [B]catch[/B] is for every year prior to age [B]65[/B] the Company will subtract a [B]6 % penalty....So your total for those part time years will be around [COLOR=rgb(184, 49, 47)]200 [/COLOR][COLOR=rgb(0, 0, 0)]dollars...:thumbdown:thumbdown[/COLOR][/B] That is now added on to your full time years which is under a separate pension plan and then you would get your final retirement benefit when you decide to sign the papers..:dontgosmiley: :bigsmile2: P.S. this is all subject to future negotiations so you better vote for the people who will have your back on pension improvements. [/QUOTE]
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