I'm in the 705 local with 18 years in this year November I will have 19 years. I will turn 55 in October of 2025. Am I eligible for retirement health care if I stop working at 55 with 20 years in?
It sounds to good to be true. Is there something I'm missing!
Yes, I agree. It sounds to good to be true.
Please check with the UPS pension plan/retirement dept. in Atlanta regarding your eligibility to retire. I would be
very surprised if you would be eligible to retire until you either have 25 years in, or reach 'normal retirement age' (probably 65). Article 34 section 8 in your contract basically says PT retiree Health & Welfare coverage (once you're eligible to start collecting your pension) would be thru TeamCare, so read your Summary Plan Description or otherwise check with them.
I don't have the details, but apparently it is extremely advantageous for PTers in L705 to go Full Time for a short while before actually retiring. It's my understanding that comes with a significant upgrade in the retiree H&W coverage.
Edit:TLDR you're free to stop working whenever you want, but as far as collecting your pension/retiree Healthcare coverage won't start until you hit a 'milestone' in years (probably 25) or reach 'normal retirement age'.