Part time retirement

joybells

Member
Hello! I have been with UPS part time for 25 years. I know the new contract says you can retire with 30 years part time at any age and get $1950.00 a month. I will be 54 in 5 years when I want to retire. I know it says retirement at any age but will I be penalized because I am retiring before "retirement age"? Also, I will start drawing a check when I retire right? I want to make sure I don't have to wait till a certain age to get my checks. Otherwise I will have to keep working. I don't know about y'all but 30 years is enough for me. Thank you so much for any information! :-)
 

burrheadd

KING Of GIFS
Hello! I have been with UPS part time for 25 years. I know the new contract says you can retire with 30 years part time at any age and get $1950.00 a month. I will be 54 in 5 years when I want to retire. I know it says retirement at any age but will I be penalized because I am retiring before "retirement age"? Also, I will start drawing a check when I retire right? I want to make sure I don't have to wait till a certain age to get my checks. Otherwise I will have to keep working. I don't know about y'all but 30 years is enough for me. Thank you so much for any information! :-)

its different everywhere

this would be a great question to pick up the phone and call your local union hall about
 

PT Stewie

"Big Fella"
Hello! I have been with UPS part time for 25 years. I know the new contract says you can retire with 30 years part time at any age and get $1950.00 a month. I will be 54 in 5 years when I want to retire. I know it says retirement at any age but will I be penalized because I am retiring before "retirement age"? Also, I will start drawing a check when I retire right? I want to make sure I don't have to wait till a certain age to get my checks. Otherwise I will have to keep working. I don't know about y'all but 30 years is enough for me. Thank you so much for any information! :-)
You will get it right away . The pt pension is administered by UPS. Congrats btw .I started late an only did 23 and retired last year @ 65 . The direct deposit is there without fail the first of the month . Also they give you I believe 4 options: single life annuity the whole amount with no survivor benefit, a little bit less with a 10 year guarantee to a survivor ( you still get the money after 10 but no survivor, and a couple of options retiree/spouse benefit of course less money because its an annuity paid to 2 lifetimes.
 

joybells

Member
You will get it right away . The pt pension is administered by UPS. Congrats btw .I started late an only did 23 and retired last year @ 65 . The direct deposit is there without fail the first of the month . Also they give you I believe 4 options: single life annuity the whole amount with no survivor benefit, a little bit less with a 10 year guarantee to a survivor ( you still get the money after 10 but no survivor, and a couple of options retiree/spouse benefit of course less money because its an annuity paid to 2 lifetimes.
Thank you so much!! Yes I started while I was in college. Like alot of other people, I stopped going to college and kept working at UPS.. But I do enjoy my job. But I will be so happy when I can retire. I appreciate the information. Congratulations on your retirement!!
 

burrheadd

KING Of GIFS
Thank you so much!! Yes I started while I was in college. Like alot of other people, I stopped going to college and kept working at UPS.. But I do enjoy my job. But I will be so happy when I can retire. I appreciate the information. Congratulations on your retirement!!

you still live in moms basement?
If not how do afford life on a part time job
 

joybells

Member
you still live in moms basement?
If not how do afford life on a part time job
Well... How did you know.. No, My husband has a good full time job and I did have my own business for about 10 years that I have since sold. But It worked great because I was able to be at all my childrens school activities and extra things. But we also had the UPS insurance and the money was just extra..
 

burrheadd

KING Of GIFS
Well... How did you know.. No, My husband has a good full time job and I did have my own business for about 10 years that I have since sold. But It worked great because I was able to be at all my childrens school activities and extra things. But we also had the UPS insurance and the money was just extra..

party on
 
Hello! I have been with UPS part time for 25 years. I know the new contract says you can retire with 30 years part time at any age and get $1950.00 a month. I will be 54 in 5 years when I want to retire. I know it says retirement at any age but will I be penalized because I am retiring before "retirement age"? Also, I will start drawing a check when I retire right? I want to make sure I don't have to wait till a certain age to get my checks. Otherwise I will have to keep working. I don't know about y'all but 30 years is enough for me. Thank you so much for any information! :-)
Well this is something for the part timers the post on here and buddy* did not make enough money but yet if they stick around here for their whole career they'll get paid $24,000 a year to stay at home
 

Shiftless

Well-Known Member
Hello! I have been with UPS part time for 25 years. I know the new contract says you can retire with 30 years part time at any age and get $1950.00 a month. I will be 54 in 5 years when I want to retire. I know it says retirement at any age but will I be penalized because I am retiring before "retirement age"? Also, I will start drawing a check when I retire right? I want to make sure I don't have to wait till a certain age to get my checks. Otherwise I will have to keep working. I don't know about y'all but 30 years is enough for me. Thank you so much for any information! :-)
You will get basic answers here.

Don't trust anyone here to know your exact retirement benefits. It is different everywhere.

Best to contact the plan that administers your retirement!

Why? They are the only one you will deal with the rest of your LIFE! Your Local will probably be of little help.


Things that may happen after retirement:
Some only allow you to do certain types of work and hours you can work after you retire till a certain age.

If you didn't check in advance? Health insurance may or may not be available to you based on age and service requirements!
(Very important to know your rights when you retire! Don't go by someone's word, or they heard, KNOW YOUR RIGHTS
before you retire)
 
its different everywhere

this would be a great question to pick up the phone and call your local union hall about
The Local was no help because as they told me the Union has nothing to do with the UPS PT Pension fund. From what the PT Union members that have retired have told me is yes you will receive a check in the mail (direct deposit really) every month for the rest of your life.
 

DELACROIX

In the Spirit of Honore' Daumier
The Local was no help because as they told me the Union has nothing to do with the UPS PT Pension fund. From what the PT Union members that have retired have told me is yes you will receive a check in the mail (direct deposit really) every month for the rest of your life.

Stupid talk...The Union was been negotiating the Part timers pension benefits since the early 70’s. It is clearly stated in the contract, the Devil is in the details, for example cost of carrying Health and Welfare Benefits which can be changed with every contract would be the biggest obstacle.

So if you retire under the UPS Pension Plan before age 65 be prepared for a possible increase of costs associated with your medical coverage which now stands at roughly 1,500 at month under Cobra. Right now it is 200 per individual or 400 a couple, subject to change.

I just remembered that you may have to be a certain age to be able to carry over your Health and Welfare plan when you retire, I believe that it is age 55.
 

silenze

Lunch is the best part of the day
Thank You!
20210423_061949.jpg
 
Top