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UPS Retirement Topics
Part time worker
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<blockquote data-quote="Jones" data-source="post: 4027767" data-attributes="member: 4805"><p><em>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.</em></p><p><em>$2275 for retirement at any age after 35 years of part-time Credited Service</em></p><p><em>$1950 for retirement at any age after 30 years of part-time Credited Service</em></p><p><em>$1625 for retirement at age 60 with 25 years of part-time Credited Service</em></p><p><em>$1325 for retirement at any age with 25 years of part-time Credited Service</em></p></blockquote><p></p>
[QUOTE="Jones, post: 4027767, member: 4805"] [I]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. $2275 for retirement at any age after 35 years of part-time Credited Service $1950 for retirement at any age after 30 years of part-time Credited Service $1625 for retirement at age 60 with 25 years of part-time Credited Service $1325 for retirement at any age with 25 years of part-time Credited Service[/I] [/QUOTE]
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