BrownScully
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Partial Service Pension
- Thread starter BrownScully
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clean hairy
Well-Known Member
What supplement are you under?
PT Car Washer
Well-Known Member
I remember seeing it. 10 years PT and 20 years FT means you can retire with a 10 yr PT pension and a 20 yr FT pension minus 6% a year for every year under 65. Not a 30 yr pension. You probably will be very disappointed in what you will receive.
BrownScully
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BrownScully
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BigUnionGuy
Got the T-Shirt
I'm not sure what you mean by PT and FT being "added together" ?
The dollar amount.... or the years of service ?
What Local ?
The dollar amount.... or the years of service ?
What Local ?
Overpaid Union Thug
Well-Known Member
I think he means both the dollar amount and years. When I run the numbers on the website for 30 years of combined (nine part time + 21 full time) service this is what I get.
BigUnionGuy
Got the T-Shirt
I am at a disadvantage with the Pension calculator.
Because of my years with the Union, I can't access the calculator thru Upsers.com
I was more curious with how he arrived at the number.... and why he thinks it is incorrect.
oldngray
nowhere special
That looks about right for Central States.
BrownScully
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oldngray
nowhere special
They are combined for years of service credit but your pension will be split into 2 checks. One for FT and one for PT. The calculator only estimates because there are so many differences in plans. Frequently after people retire they have to make adjustments to the amounts but usually only a few dollars difference. UPS has 5 months after you retire to correct errors. Almost as if they expect them to pop up.
Overpaid Union Thug
Well-Known Member
I’m in the Southern. And was never in the central states fund.
BigUnionGuy
Got the T-Shirt
How many full-time years.... and how many part-time ?
Good advice and a smart move. I thought I was the only one.
I still have every piece of campaign material from my Local since 1990 ?
Documentation always helps.
Funny you say that.
I know a driver that happened too.
They had several years in a management position, prior to being vested in a Union plan.
He/she attempted come back to being a driver, because of the difference of what they were "promised".
Of course.... it was the Union's fault.
Good advice and a smart move. I thought I was the only one.
I still have every piece of campaign material from my Local since 1990 ?
Documentation always helps.
Funny you say that.
I know a driver that happened too.
They had several years in a management position, prior to being vested in a Union plan.
He/she attempted come back to being a driver, because of the difference of what they were "promised".
Of course.... it was the Union's fault.
What'dyabringmetoday???
Well-Known Member
Why did you wait so long to save that precious campaign material? I'm shocked.How many full-time years.... and how many part-time ?
Good advice and a smart move. I thought I was the only one.
I still have every piece of campaign material from my Local since 1990 ?
Documentation always helps.
Funny you say that.
I know a driver that happened too.
They had several years in a management position, prior to being vested in a Union plan.
He/she attempted come back to being a driver, because of the difference of what they were "promised".
Of course.... it was the Union's fault.
BrownScully
Member
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GameCockFan
Well-Known Member
I'm in the Atlantic area but still CS. I've got the same years as you. My estimate on Upsers is:
If I retired in Sept and started drawing in Oct. I'm familiar with that section and your correct, thats the way it should be calculated
| 10/1/2020 | $3,443.75 Full time |
| 10/1/2020 | $130.78 Part time |
If I retired in Sept and started drawing in Oct. I'm familiar with that section and your correct, thats the way it should be calculated
BrownScully
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DELACROIX
In the Spirit of Honore' Daumier
I believe that the IBT/UPS and the UPS Pension plans have a 6 % penalty for every year prior to the normal retirement age of 65.
They are separate plans and when you retire you will get two checks from both according to how many service years that you worked in each one. They count your vested years for an early retirement, so you can officially retire after 30 years, but your monetary monthly benefit depends on just how many years P/T and friend/T...When you reach 65 you will be getting 3 checks..one from the IBT/UPS, one from The UPS Pension Plan and one from Central States (God Willing)...they will just reduce you IBT/UPS benefit by the amount of years you have vested under the Central....It should add up the same....
I do not believe that the 6 % penalty is exempt with both plans once you hit 30 years of combined service, it would be great if it was true....
They are separate plans and when you retire you will get two checks from both according to how many service years that you worked in each one. They count your vested years for an early retirement, so you can officially retire after 30 years, but your monetary monthly benefit depends on just how many years P/T and friend/T...When you reach 65 you will be getting 3 checks..one from the IBT/UPS, one from The UPS Pension Plan and one from Central States (God Willing)...they will just reduce you IBT/UPS benefit by the amount of years you have vested under the Central....It should add up the same....
I do not believe that the 6 % penalty is exempt with both plans once you hit 30 years of combined service, it would be great if it was true....
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