Question about part-time to full-time retirement

Ilovetoast

Active Member
Hello! I have a question that I can't seem to get a straight answer.

I understand you have to hit the golden 80 to retire.

I am a part-time employee with 14 years with the company I started when I was 18 years old. it looks like I will be able to retire at 49

If I become combo or full-time Will my 14 years of service with the company be cut in half?

So I would have to retire later?

thank you for all your help!

my plan is to retire ASAP and Move to The Philippines:)
 

UpstateNYUPSer(Ret)

Well-Known Member
Each plan is different but, in general, you will get 1/2 year of FT credit for every year that you worked PT.

Looks like you may be working a bit longer than you may like.
 

Ilovetoast

Active Member
Ohhh nooo! i'm sick of being a slave here.

I thought your were able to retire after 30 years of service with the company.

Why should it matter if your part time or full time.

Am I wrong about that?
 

UpstateNYUPSer(Ret)

Well-Known Member
You can retire but your pension will be much lower than that of a 30 year FT employee and you may not start receiving payments until you reach normal retirement age.

Your best bet is to contact your pension fund office and request a determination of benefits statement with a projected retirement date and estimated monthly pension benefit.
 

oldngray

nowhere special
Ohhh nooo! i'm sick of being a slave here.

I thought your were able to retire after 30 years of service with the company.

Why should it matter if your part time or full time.

Am I wrong about that?

It depends on your plan. A few locals still have 30 years and out at any age (for that then the PT years do count as years of service but pension amount would be less) but that has mostly gone away.
 

Ilovetoast

Active Member
Thanks so much for the information. I'm in the Western Conference region.

honestly I just want to live cheap in Asia and enjoy whatever life I have left.
 

Ilovetoast

Active Member
Thank you to all for their insight!! I called the local business Hall. they told me your years do not get cut in half when you go full-time.

they calculated my age and years of service and said I can retire at 49!
Time to 15 %Max that 401(k) and Save..save..save!!!
 

silenze

Lunch is the best part of the day
In my local afyer going full time you have to wait another 5 years for your full time pension to vest.
 

1989

Well-Known Member
Thank you to all for their insight!! I called the local business hall. they told me your years do not get cut in half when you go full-time.

they calculated my age and years of service and said I can retire at 49!
Time to 15 %Max that 401(k) and Save..save..save!!!
I don't believe that's correct. Don't base your decision on one call to your local. Contact the pension plan. And again, you can get 2 different answers with just a phone call. The information you seek is more Than likely on their website. And be aware your pension rules today might be different than the rules when you retire.
 

downtime8763

Well-Known Member
I retired 37 yrs with 4pt and 33ft,I get two checks, one UPS/IBT (full time) and other UPS pension both come from the same address as UPS bought us out of the central states pension several years ago.
 
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