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Brown Cafe UPS Forum
UPS Retirement Topics
PEER 80 / 25 YEAR RETIREMENT
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<blockquote data-quote="player4hire$$$" data-source="post: 1713034" data-attributes="member: 58360"><p>Hey Brothers, I was hired in July 90 when i was 19 i was P/T 3 years & currently friend/T 22 years i will have 25 years in next week i called the pension office inquiring about the years i have remaining until retirement & they advised me 5 years still. I know i'm under the peer 80 contract & from how i understand it once your years of age and years with ups equals 80 you are eligible to retire, So i recently received my latest pension statement & it stated i am eligable to get $40,358 if i were to quit ups today. The problem is i wouldn't get the money for 10 years, But if i work another 5 years i will be eligible for around $51,000 & meet all the Peer 80 requirements. My question is i could easily live on 40K being single with no family & debt free & 500K in my 401k theirs just no reason to continue working anymore. If ups would offer 25 year employees with a 25 year UNREDUCED pension i would take full advantage of it. Or i would hope in the '18 Teamster ups contract 25 year employees would at least have the option of early retirement @ 25 years. I think this would also be good for ups to because from what i've seen once you get 25 in workers comp claims increase substantially.</p></blockquote><p></p>
[QUOTE="player4hire$$$, post: 1713034, member: 58360"] Hey Brothers, I was hired in July 90 when i was 19 i was P/T 3 years & currently friend/T 22 years i will have 25 years in next week i called the pension office inquiring about the years i have remaining until retirement & they advised me 5 years still. I know i'm under the peer 80 contract & from how i understand it once your years of age and years with ups equals 80 you are eligible to retire, So i recently received my latest pension statement & it stated i am eligable to get $40,358 if i were to quit ups today. The problem is i wouldn't get the money for 10 years, But if i work another 5 years i will be eligible for around $51,000 & meet all the Peer 80 requirements. My question is i could easily live on 40K being single with no family & debt free & 500K in my 401k theirs just no reason to continue working anymore. If ups would offer 25 year employees with a 25 year UNREDUCED pension i would take full advantage of it. Or i would hope in the '18 Teamster ups contract 25 year employees would at least have the option of early retirement @ 25 years. I think this would also be good for ups to because from what i've seen once you get 25 in workers comp claims increase substantially. [/QUOTE]
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PEER 80 / 25 YEAR RETIREMENT
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