Pension Question for Central States -Married People only

[burrheadd]

Really? Ours is automatic; he/she would have to sign off to not receive it.

They need to know whether to deduct $200 or $ 400 or $0

 

[UpstateNYUPSer(Ret)]

Do you have to pay for retiree insurance

Yes.

$150/month single.

$300/month married.

 

[UpstateNYUPSer(Ret)]

They need to know whether to deduct $200 or $ 400 or $0

Would she have to sign off on that as well?

 

[burrheadd]

Would she have to sign off on that as well?

No all she she had to sign off on was if she wanted part of pension after my death

 

[UpstateNYUPSer(Ret)]

She has to opt in?

 

[1989]

She has to opt in?

For survivorship benifits at point of retirement.

 

[UpstateNYUPSer(Ret)]

For survivorship benifits at point of retirement.

I’m sorry but that just makes no sense to me.

He/she should have to opt out, not in.

 

[1989]

I’m sorry but that just makes no sense to me.

He/she should have to opt out, not in.

If I choose for my pension to end at my death. I sign the paperwork, I am the participant.

If I choose for it to end at both of our deaths. She must sign, because she would now become a participant too.

 

[IVE GOTTA PACKAGE 4U]

If I choose for my pension to end at my death. I sign the paperwork, I am the participant.

If I choose for it to end at both of our deaths. She must sign, because she would now become a participant too.

You sure? You wife would have to sign of on that

 

[UpstateNYUPSer(Ret)]

You sure? You wife would have to sign of on that

What if he is one of those husbands that doesn’t tell his wife anything? He dies and she is left with nothing? Doesn’t make sense to me.

 

[1989]

You sure? You wife would have to sign of on that

You sure? You wife would have to sign of on that

No, but since you are currently my beneficiary, when I retire you will not be required sign off when I choose single life.

 

[BigUnionGuy]

How does a member add his spouse to their pension? Is it automatically done or do you have to call UPS Human Resouces number? Or is this something you handle through the Teamster local you're a member of? Not quite retired yet - but will be and want to take care of any loose items prior to retirement.
Thanks for any help you can provide.

Since you didn't mention what Pension Plan you are in, call your Local first....

then contact your specific plan for further details. They can probably walk

you through it, or send you information including common questions.


Getting a definitive here, is going to be slew of answers only related to

personal experience from the posters. Good luck.



-Bug-

 

[IVE GOTTA PACKAGE 4U]

No, but since you are currently my beneficiary, when I retire you will not be required sign off when I choose single life.

I see your brake lines are dripping.

 

[upschuck]

I’m sorry but that just makes no sense to me.

He/she should have to opt out, not in.

The amount decreases, if the wife continues to receive til her death.

 

[UpstateNYUPSer(Ret)]

The amount decreases, if the wife continues to receive til her death.

True. You guys are making it sound like you have to add her as a beneficiary whereas with our fund she would have to opt out.

 

[1989]

True. You guys are making it sound like you have to add her as a beneficiary whereas with our fund she would have to opt out.

Gumby is my beneficiary.

 

[upschuck]

True. You guys are making it sound like you have to add her as a beneficiary whereas with our fund she would have to opt out.

If she doesn't receive til her death, is she really a beneficiary? We designate when we turn in our papers, which of the options we want. I will probably choose the 0%, because I have plenty in 401k and other investments, for her to live out her life. It is, of course, subject to change.

 

[UpstateNYUPSer(Ret)]

If she doesn't receive til her death, is she really a beneficiary? We designate when we turn in our papers, which of the options we want. I will probably choose the 0%, because I have plenty in 401k and other investments, for her to live out her life. It is, of course, subject to change.

Does the monthly pension that you receive change depending upon which option you choose?

 

[1989]

Does the monthly pension that you receive change depending upon which option you choose?

Of course. Chances are, the pension will pay longer if 2 people have to die.

 

[UpstateNYUPSer(Ret)]

Of course. Chances are, the pension will pay longer if 2 people have to die.

So the ideal would be to leave her off and buy a term policy with the extra $$$.