Pension Questions; Age 65, Part-Time, Amount, Buyout?

Discussion in 'UPS Discussions' started by JohnInSouthJersey, Aug 19, 2013.

  1. JohnInSouthJersey

    JohnInSouthJersey New Member

    First, thank you for your interest.

    Specific factors:

    Age: 65
    UPS Location: Edison, NJ (Teamsters Local 177)
    Previous Position: Part-time hourly package handler; vastly Isle sorter, a lot small sort, a little loading/unloading (to me, loading the hardest).
    Years Worked: 8 (1982-1990); quit at 42

    Additional Info:

    I contacted UPS's Atlanta office and there will be the standard pension information send within 30 days. I'm very curious to get any feedback to either increase my anticipation :happy-very: -- or temper it :sad-little: -- as I await the numbers.
    The main question is; at 65 last month (can pass for 45 :happy-very:), will I have a buyout option as per a contract from the 1980s (two contracts during my stay)?

    My second question is; based on the information above, what monthly amount will I receive?

    I don't expect a specific answer to either of course. Speculation and similar experiences are welcome.

    Thanks to anyone who cares to respond in advance.

    John

    PS The dental work alone, as a benefit, was well worth it. The above will be gravy. :happy-very:

    I'm not sure; just wondering if, relatively, the benefits were better in the 1980s?
     
  2. JohnInSouthJersey

    JohnInSouthJersey New Member

    Hmmm... maybe I posted in the wrong forum. :dissapointed:
     
  3. cheryl

    cheryl I started this. Staff Member

    I'll move this into UPS Discussions to see if anyone can answer your question.
     
  4. Squint

    Squint No more work for me!

    The buyout was rendered obsolete in Local 177 about 8 years ago, so no, I'm sorry to say you won't get that.

    I worked in Local 177 for a total of almost 31 years, 5 and a quarter of which were part time. I get two pensions and the part time pension is $83.00/month.

    Hope this helps you
     
  5. Re-Raise

    Re-Raise Well-Known Member

    I worked part-time for 8 years in the 80's and received a letter saying I would receive $385 a month at age 65.
     
  6. oldngray

    oldngray nowhere special


    What matters is how many years of vesting credit you have of the 8 years you worked. As long as you have 5 years of credit you will be partially vested and will get a little. Not a lot. Gas and beer money mostly. You are in a different local but here it would be around $40-45 per year of part time vesting credit.
     
  7. JohnInSouthJersey

    JohnInSouthJersey New Member

     
  8. Turdferguson

    Turdferguson Just a turd

    Bumping it five years later won't help you get an answer
     
  9. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    Says who?
     
  10. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    $237.87
     
  11. Baba gounj

    Baba gounj pensioner

    back in the 80's , one needed ten years invested to be pension qualified .
     
  12. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    I started in 1989 and it was 5 years. It is still 5 years today.
     
  13. JohnInSouthJersey

    JohnInSouthJersey New Member

    S---! Sorry Turdferguson. I didn't intend to "bump" this post, actually about 4 years. I was looking around after years gone by, saw my original post, and spotted a spelling error ("isle," which I was trying to correct to (aisle) -- yea; a spelling correction 4 years later. Is that what they call anal ha-ha. Somehow trying to edit it bumped it forward about 4 years. It's embarrassing, but worth the laugh. :-)

    Oh; I did get my part-time pension. It's $117.33/mo. I think they gave me credit for, or about, 5 years part-time work. I thought it would be about twice that amount. I was so glad to get it started, especially since I got about $1800 retroactively, that I accepted it and moved on. It was probably accurate. I tended to give myself every benefit of the doubt concerning the figures.

    Thanks for the reply anyway. Good luck with your work, or retirement if you're done.

    John
    NJ (just across from Philly)
     
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  14. JohnInSouthJersey

    JohnInSouthJersey New Member

    Thanks for commenting Brownslave688. Please see my post above to Turdferguson.
     
  15. JohnInSouthJersey

    JohnInSouthJersey New Member

    I wonder how you came up with that number? It's far from clear in my mind 4 years later. I worked 7-8 years and I suspect I somehow got credit for about 5 years. Who knows? It's over. I'm OK with it. Especially because I was first told it would not be retroactive. Then I got the letter with a fat retroactive check. Yes; all's OK.

    I'll check in once in a while maybe. Some interesting discussions, and "characters," hanging out here. :-)

    Peace to to all.

    John
    NJ
     
  16. Jackburton

    Jackburton Gone Fish'n

    At least you're not an old :censored2: retiree that comes on here once and awhile to post how no one will be able to ever live up to the challenges you faced.
     
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  17. Wally

    Wally Hailing from Parts Unknown.

    Don't be a Debbie Downer. The 177 rocks! Info will flow in!
     
  18. burrheadd

    burrheadd Be The Ball

    You related to @Wally ?
     
  19. Baba gounj

    Baba gounj pensioner

    I was invested ( 10+ yrs ) before you even started .
    See life was harder back then .