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Pension Buyout
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<blockquote data-quote="fergferg77" data-source="post: 2401322" data-attributes="member: 64636"><p>10 years part time mgmt. Benefit amount at 65 is $388/month. Lump sum offer of ~$15K or about $70/month for life. Worked from 2001 to 2011 there and finished making somewhere around $21K a year. I am 39, so I assume that one's current age has something to do with their calculatuons on the offer......if I were older or much closer to 65, maybe it would be more. Thought about calling to barter a higher amount, but sure Im just a number and they would be like whatever, if I could even get through to someone that could make a decision like that. I swear my benefit amount was less when the number was put in front of me when I left, maybe closer to 300 than 400 a month. Does anyone one know if our UPS part time mgmt pensions actually increase by some amount over time to account for inflation or is it locked in? It's rare that traditional pensions like this do that but now I'm wondering? Sure it doesn't, but I don't trust em now any more than when I worked there. Pretty clear cut on what they are trying to accomplish though. My lump sum is just over 3 years worth of my pension if I were to take it now.</p></blockquote><p></p>
[QUOTE="fergferg77, post: 2401322, member: 64636"] 10 years part time mgmt. Benefit amount at 65 is $388/month. Lump sum offer of ~$15K or about $70/month for life. Worked from 2001 to 2011 there and finished making somewhere around $21K a year. I am 39, so I assume that one's current age has something to do with their calculatuons on the offer......if I were older or much closer to 65, maybe it would be more. Thought about calling to barter a higher amount, but sure Im just a number and they would be like whatever, if I could even get through to someone that could make a decision like that. I swear my benefit amount was less when the number was put in front of me when I left, maybe closer to 300 than 400 a month. Does anyone one know if our UPS part time mgmt pensions actually increase by some amount over time to account for inflation or is it locked in? It's rare that traditional pensions like this do that but now I'm wondering? Sure it doesn't, but I don't trust em now any more than when I worked there. Pretty clear cut on what they are trying to accomplish though. My lump sum is just over 3 years worth of my pension if I were to take it now. [/QUOTE]
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