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UPS Retirement Topics
Pension for p/t sup
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<blockquote data-quote="DELACROIX" data-source="post: 3888279" data-attributes="member: 49065"><p>Your part time years are credited according to the number of years that you worked annually. Most part time sups are working 25 hours a week so one year for you would be equal to 7 months of vesting and credit time under the UPS Retirement Plan for Management. The plan basically pays 1/2 your annual salary when you reach the eligible age or service requirement. The plan was never set up to promote any part time benefit, the full time high salary partners are the ones who will benefit and retire with a hell of a deal, forget about any medical benefits... Sorry. </p><p></p><p>You probably will not have enough to collect any fair share of a retirement even if you wait for the next 4 years. Management's plan ends vesting in 2023, If you currently have 22 years in as a part time sup that would be equivalent to about 17 years, you will never reach that 25 years or even at age 55... Sorry. </p><p></p><p>Just join the rest of the thundering herd and request your retirement benefits as an estimate from Atlanta. "KEEP" all documentation for future reference, most of it turns out to be "SUBJECT TO CHANGE" if you get my drift. </p><p></p><p>Good luck on your endeavor.<img src="/community/styles/default/xenforo/smilies/2012/overreactsmiley.gif" class="smilie" loading="lazy" alt=":overreactsmiley:" title="Overreactsmiley :overreactsmiley:" data-shortname=":overreactsmiley:" /></p><p></p><p>An afterthought: If you retire before age 65 your benefits are reduced 3 percent for every year prior, so if you decide to retire at age 55 the amount that you already required will be reduced an additionally 30 percent. Don't feel bad about this under the UPS Pension Plan for union part timers that penalty is set a 6 percent, feel blessed.</p><p></p><p><img src="/community/styles/default/xenforo/smilies/2012/hamwheelsmilf.gif" class="smilie" loading="lazy" alt=":hamwheelsmilf:" title="Hamwheelsmilf :hamwheelsmilf:" data-shortname=":hamwheelsmilf:" /></p></blockquote><p></p>
[QUOTE="DELACROIX, post: 3888279, member: 49065"] Your part time years are credited according to the number of years that you worked annually. Most part time sups are working 25 hours a week so one year for you would be equal to 7 months of vesting and credit time under the UPS Retirement Plan for Management. The plan basically pays 1/2 your annual salary when you reach the eligible age or service requirement. The plan was never set up to promote any part time benefit, the full time high salary partners are the ones who will benefit and retire with a hell of a deal, forget about any medical benefits... Sorry. You probably will not have enough to collect any fair share of a retirement even if you wait for the next 4 years. Management's plan ends vesting in 2023, If you currently have 22 years in as a part time sup that would be equivalent to about 17 years, you will never reach that 25 years or even at age 55... Sorry. Just join the rest of the thundering herd and request your retirement benefits as an estimate from Atlanta. "KEEP" all documentation for future reference, most of it turns out to be "SUBJECT TO CHANGE" if you get my drift. Good luck on your endeavor.:overreactsmiley: An afterthought: If you retire before age 65 your benefits are reduced 3 percent for every year prior, so if you decide to retire at age 55 the amount that you already required will be reduced an additionally 30 percent. Don't feel bad about this under the UPS Pension Plan for union part timers that penalty is set a 6 percent, feel blessed. :hamwheelsmilf: [/QUOTE]
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