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UPS Retirement Topics
Part-timer going full-time for the pension
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<blockquote data-quote="DELACROIX" data-source="post: 5118589" data-attributes="member: 49065"><p>If you under the Central or Southern your 22 years part time would pay out roughly 1,200 (at age 65) if you plan on retiring in 8 years you will be around 50...those part time years are subject to a 6% penalty for every year prior to age 65...so that 1,200 will be reduced by 65 percent again roughly 500.</p><p></p><p>Those 8 years full time usually run at <img class="smilie smilie--emoji" loading="lazy" alt="💯" title="Hundred points :100:" src="https://cdn.jsdelivr.net/joypixels/assets/6.6/png/unicode/64/1f4af.png" data-shortname=":100:" /> per service year so 800, I believe that once you hit 30 years pt and ft those full time years are not subject to that 65 % penalty if you do not have that 30 year service requirement it will be reduced to roughly 350...</p><p></p><p>Retirees Health coverages is another story, I believe that you have to be 55 or 57 to carry your coverages, which runs in the Central 200 for an individual or 400 for a couple.</p><p></p><p>A lot of these early high seniority part timers that went full time discovered that they would of been better off qualifying for that 25 part time service pension before they switched plans under the IBT/UPS plan for full timers.</p><p></p><p>Choose wisely...</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 5118589, member: 49065"] If you under the Central or Southern your 22 years part time would pay out roughly 1,200 (at age 65) if you plan on retiring in 8 years you will be around 50...those part time years are subject to a 6% penalty for every year prior to age 65...so that 1,200 will be reduced by 65 percent again roughly 500. Those 8 years full time usually run at 💯 per service year so 800, I believe that once you hit 30 years pt and ft those full time years are not subject to that 65 % penalty if you do not have that 30 year service requirement it will be reduced to roughly 350... Retirees Health coverages is another story, I believe that you have to be 55 or 57 to carry your coverages, which runs in the Central 200 for an individual or 400 for a couple. A lot of these early high seniority part timers that went full time discovered that they would of been better off qualifying for that 25 part time service pension before they switched plans under the IBT/UPS plan for full timers. Choose wisely... [/QUOTE]
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Part-timer going full-time for the pension
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