Quick part time pension question

EmraldArcher

Well-Known Member
The national contract lists the lowest part time pension payout as $1250 for retirement after 25 years. Does this mean that "retiring" from the company with less then 25 years of accrued time means you get nothing? I assume so but the contract didn't specifically state it.
 

PT Car Washer

Well-Known Member
The national contract lists the lowest part time pension payout as $1250 for retirement after 25 years. Does this mean that "retiring" from the company with less then 25 years of accrued time means you get nothing? I assume so but the contract didn't specifically state it.
I believe you have to wait until you are 65 to collect any pension.
 

hondo

promoted to mediocrity
The national contract lists the lowest part time pension payout as $1250 for retirement after 25 years. Does this mean that "retiring" from the company with less then 25 years of accrued time means you get nothing? I assume so but the contract didn't specifically state it.
No
 

hondo

promoted to mediocrity
No, it doesn't mean that.

If you have less than 25 years "credited service", you have to wait until your "normal retirement age" (instead of "at any age"). Important edit: must be vested! (I believe it's 5 years of credited service, over the age of 21).

Also, the 25/30/35 year amounts you see are based on "$50 per year of credited service". That amount has been raised twice. It might be $55 or $60 for you.
 
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