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pension question for union and non-union
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<blockquote data-quote="FracusBrown" data-source="post: 873650" data-attributes="member: 29360"><p>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.</p><p></p><p>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. </p><p></p><p>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.</p></blockquote><p></p>
[QUOTE="FracusBrown, post: 873650, member: 29360"] 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. [/QUOTE]
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pension question for union and non-union
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