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Brown Cafe UPS Forum
UPS Retirement Topics
Part time retirement question
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<blockquote data-quote="DELACROIX" data-source="post: 4766863" data-attributes="member: 49065"><p>I sense the company will eliminate all it’s defined pension liabilities. If you have vested time as a part timer under the UPS Pension fund we might be looking at a buy out of sort with this 2023 contract. The writing is on the wall...expect a 401k match similar management’s. All our past time under the UPS Pension fund will be subject to negotiation..During the “97” strike the company was offering 50 dollars per vested year without any 6 percent penalty if you reach the service requirements.</p><p></p><p>It makes sense anyway considering the high turnover of our part time workforce..How many of these new part timers will ever stay past 5 years to become vested?</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 4766863, member: 49065"] I sense the company will eliminate all it’s defined pension liabilities. If you have vested time as a part timer under the UPS Pension fund we might be looking at a buy out of sort with this 2023 contract. The writing is on the wall...expect a 401k match similar management’s. All our past time under the UPS Pension fund will be subject to negotiation..During the “97” strike the company was offering 50 dollars per vested year without any 6 percent penalty if you reach the service requirements. It makes sense anyway considering the high turnover of our part time workforce..How many of these new part timers will ever stay past 5 years to become vested? [/QUOTE]
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