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Brown Cafe UPS Forum
UPS Retirement Topics
Pension Plan for P/T Sups?
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<blockquote data-quote="Cezanne" data-source="post: 92063" data-attributes="member: 5104"><p>Your part time years under the UPS Retirement Plan of 14 years is vested till normal retirement age of 65. If you plan to collect before 65, you will be penalized 5 or 6 percent per year before age 65, so if you want to start collecting at age 55 that amount will be reduced 60 percent. Believe that people are vested when they work 5 years, those who leave employment usually require a lump sump. Send a letter to Atlanta asking for info, ask for the benefits under the UPS Retirement Plan instead of the UPS Pension Plan, the first one is for management or non union employees only, for the most part. Can figure on getting about 800 if you start collecting at 65, and that is subject to change at any time.</p><p> </p><p>From my understanding if you had stayed at UPS for 30 years, your part time years are added on to any full time years as full vested years for a very good retirement. It is based on your best 5 years, collecting about half your salary, pretty good incentive to climb that ladder<img src="/community/styles/default/xenforo/smilies/group1/wink.gif" class="smilie" loading="lazy" alt=":wink:" title="Wink :wink:" data-shortname=":wink:" /></p></blockquote><p></p>
[QUOTE="Cezanne, post: 92063, member: 5104"] Your part time years under the UPS Retirement Plan of 14 years is vested till normal retirement age of 65. If you plan to collect before 65, you will be penalized 5 or 6 percent per year before age 65, so if you want to start collecting at age 55 that amount will be reduced 60 percent. Believe that people are vested when they work 5 years, those who leave employment usually require a lump sump. Send a letter to Atlanta asking for info, ask for the benefits under the UPS Retirement Plan instead of the UPS Pension Plan, the first one is for management or non union employees only, for the most part. Can figure on getting about 800 if you start collecting at 65, and that is subject to change at any time. From my understanding if you had stayed at UPS for 30 years, your part time years are added on to any full time years as full vested years for a very good retirement. It is based on your best 5 years, collecting about half your salary, pretty good incentive to climb that ladder:wink: [/QUOTE]
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