I don't think this subject has been covered before but if it has, I apologize in advance (and please direct me to the thread). I worked as a part time union employee for 11 years, then worked 7 years full time admin (non-union) for a total of 18 years of service. My question is, how is pension/retirement calculated and who pays it (union or ups?). Not that I am ready to collect yet, but was just wondering.
I believe you will have 2 pensions one with the union and one with UPS. The amount you are going to get paid depends on the number of credits that you received for each pension and when you start taking your pensions. Your credits are based on the number of hours you have worked each year.
If you go to the local union website it should have a link to the pension plan in that area for the union and Then you can log in and check you account. I don't know anything about the non union pension.
Both, assuming you were vested when you left the union job. Years of service in the union position counts toward union pension. All years, including union years, count toward company pension, however the amount you collect from the union is deducted from the company pension.
Example - If company pension is $2,000 based upon total years of service and union pension is $1,500 based upon union years of service the total pension will be $2,000. $500 from the company and $1,500 from the union pension. If union pension exceeds company pension, you get nothing from the company pension.
Both are funded by the company on your behalf. Company will not pay without verification from Union so there is no way to collect both in full.
