Pension Payout Check?

Discussion in 'UPS Retirement Topics' started by RoanokeUPS, Jul 17, 2011.

  1. RoanokeUPS

    RoanokeUPS New Member

    IF one were to decide to find other employment that actually allowed time at home with their family, is it true that we receive a payout check so long as we are already vested? With replies, I'd like to know position with the company/union so I know where my sources are coming from.
  2. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    The NYS Teamsters Pension Plan does offer a lump sum payout option. If the value of your pension is $10,000 or less you can elect to receive it in a lump sum payment at the time your pension is set to begin, not when you separate. This option is not available on pension values greater than $10,000 which will be paid on a monthly basis.
    Last edited: Jul 17, 2011
  3. RoanokeUPS

    RoanokeUPS New Member

    possible, Ive just heard of a few people receiving "a check" upos seperation with the company. I wasn't sure. I am just getting tired of waiting for a FT delivery position. Thanks to a "crooked" Center Manager (I think the two words are linked) I have watched 6, SIX guys with less seniority get FT positions ahead of myself, I have Temped/Covered for 4 years and am almost through progression but that doesn't help without a job! anyways, thanks for the invite.

    Also, for all the posts that are sure to come about filing with the local to fix this, he kept it hush for 30 days which makes me unable to file, all Union options have been exhausted.
  4. fishface

    fishface New Member

    is that in canada as well?
  5. hotrod

    hotrod New Member

    I am a 20 year UPS teamster and I am trying to locate information and forms to get it . Can you help me
  6. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    What pension plan do you fall under? Are you with the UPS/IBT plan or a Teamster plan?
  7. ostler123

    ostler123 New Member

    You can join your expected job by seeing your experience.
  8. crooks everywhere

    crooks everywhere New Member

    Are you full time or part time? You can't receive a lump sum payment for either anymore I don't think. I am Union. You have to be sixty something to start collecting on a ten year pension I believe.