Peer 80 in the western conference pension

[Cheesypurpletees]

My co worker is 49 with 26 years of service. Would he be able to quit and move across the country and collect in a few years once his score hits 80? He’s trying to figure out whether or not he’d still get full health benefits at his peer 80 if he were to leave covered employment this year.
He has asked some retirement “administrators” and oddly they’re unsure

 

[Shiftless]

I retired at 49 Peer 80 WCT.

Not all WCT retiree's have the same health insurance when they retire. Some stay with the UPS plan and others never were on and go on the Teamsters retirement health plan. In my case, I wasn't 50??? I couldn't get health insurance! So knowing this I saved time (vaca, sick) for years so I could leave early and receive health insurance by running my time out to 50 as tho I was an employee. At that time I was officially retired

In the past it has always been if you don't meet the peer 80 criteria for any reason? You don't get it! Crazy to walk away from great health insurance if he has it now.

If he got his retirement info from the local? They generally are lost when it comes to retirement peer 80 details!!!

Have him contact >>>>>>>> Welcome | The Western Conference of Teamsters Pension Trust

Keep us posted on what happens!

 

[Just A UPS Guy]

My co worker is 49 with 26 years of service. Would he be able to quit and move across the country and collect in a few years once his score hits 80? He’s trying to figure out whether or not he’d still get full health benefits at his peer 80 if he were to leave covered employment this year.
He has asked some retirement “administrators” and oddly they’re unsure

No, he would start collecting at 65.

 

[Been In Brown Too Long]

My co worker is 49 with 26 years of service. Would he be able to quit and move across the country and collect in a few years once his score hits 80? He’s trying to figure out whether or not he’d still get full health benefits at his peer 80 if he were to leave covered employment this year.
He has asked some retirement “administrators” and oddly they’re unsure

I retired WCT under PEER 80 at 49 as well (31yrs. of service). We were never in the UPS healthcare plan, and our local had it's own retiree medical plan. We had an hourly rate deduction since the 90's and it made retiree medical and dental cost free after retirement for you and your spouse. There was no age restriction, so I was covered immediately.

Your question is different. PEER 80 isn't a thing unless you make it to 80. Your coworker only has 75 of the required 80. PEER 80 is considered early retirement. If you leave, quit, etc...don't make it to the 80 requirement, he won't see any retirement benefits until he reaches full retirement age of 65.

 

[Cheesypurpletees]

I retired WCT under PEER 80 at 49 as well (31yrs. of service). We were never in the UPS healthcare plan, and our local had it's own retiree medical plan. We had an hourly rate deduction since the 90's and it made retiree medical and dental cost free after retirement for you and your spouse. There was no age restriction, so I was covered immediately.

Your question is different. PEER 80 isn't a thing unless you make it to 80. Your coworker only has 75 of the required 80. PEER 80 is considered early retirement. If you leave, quit, etc...don't make it to the 80 requirement, he won't see any retirement benefits until he reaches full retirement age of 65.

He was under the assumption after 25 years he’d receive peer lock-in protection and could leave employment; then collect his early retirement in 5 years at 54 once he hit his 80.

From what I’m understanding, he still wouldn’t receive retirement health benefits leaving covered employment before hitting his peer 80 regardless of hitting that 25 year mark

 

[Just A UPS Guy]

He was under the assumption after 25 years he’d receive peer lock-in protection and could leave employment; then collect his early retirement in 5 years at 54 once he hit his 80.

From what I’m understanding, he still wouldn’t receive retirement health benefits leaving covered employment before hitting his peer 80 regardless of hitting that 25 year mark

He needs to stop being "under the impression" and start reading. It never ceases to amaze me how long some people can be here and know nothing about their contract, healthcare, and/or retirement benefits.

 

[IVE GOTTA PACKAGE 4U]

He needs to stop being "under the impression" and start reading. It never ceases to amaze me how long some people can be here and no nothing about their contract, healthcare, and/or retirement benefits.

Healing needs a couple more years and he'll be fine.
Look at the concept of not wanting to go to work but don't screw yourself out of a ton of money and health care

 

[nWo]

Heard they had to switch it to peer 90 after they sent all the money to central.

 

[Over70irregs]

He needs to stop being "under the impression" and start reading. It never ceases to amaze me how long some people can be here and know nothing about their contract, healthcare, and/or retirement benefits.

He should go to office and meet in person. Get EVERYTHING in writing.

 

[Just A UPS Guy]

He should go to office and meet in person. Get EVERYTHING in writing.

It's all in writing in the benefits book the send out every year. Just got mine again last week.

 

[Over70irregs]

It's all in writing in the benefits book the send out every year. Just got mine again last week.

Needs to talk to benefits dept. Had a driver who was confused with retirement health benefits for his kids which were different than regular medical.

 

[Just A UPS Guy]

Needs to talk to benefits dept. Had a driver who was confused with retirement health benefits for his kids which were different than regular medical.

I get it. Point being, take responsibility, the information is mailed to you every year. There's no reason to think you can possibly take 36+ consecutive months off at the end of you career and believe you can collect at your "golden 80."

 

[Over70irregs]

I get it. Point being, take responsibility, the information is mailed to you every year. There's no reason to think you can possibly take 36+ consecutive months off at the end of you career and believe you can collect at your "golden 80."

I knew a guy who was injured and used vacation to get his minimum hours for two partial years.

 

[DELACROIX]

He should go to office and meet in person. Get EVERYTHING in writing.

With the disclosure: (Subject to Change) if you get anything at all..!

I thought they closed those offices years ago...? Good luck with the 1-800 numbers...

P.S. Under the Central..the Western's retirement departments might be better...

 

[DELACROIX]

He needs to stop being "under the impression" and start reading. It never ceases to amaze me how long some people can be here and know nothing about their contract, healthcare, and/or retirement benefits.

Most of them do not want to know till it is too late..

 

[DELACROIX]

Heard they had to switch it to peer 90 after they sent all the money to central.

If I was under the Peer 80 pension formula when I retired my final total would be (114): (68) years old with (46) years in under the Central, over (35) full time..only receiving a 1/3 of those who were lucky enough to retire in the West with the same service levels.

Trust me the Money was never sent to the Central..But who's complaining..