Retirement at age 50

[Ilovetoast]

I’m 33 and have been a part time employee for 15 years now. At the moment Im happy with my shuttle/air position getting 50 hrs+ground pay.

My question is if I want to retire at age 50 which would be 32 years of service. Would it be more beneficial for me to go full-time for a better pension or just stick with this 50 hours PT shuttle job for as long as possible?

Also Let’s say I don’t want to receive my pension after I retire until The age 65 would it be more or would it be the same if I wanted to Receive it at age 50.

Thanks Everyone. I want out of this game! My dream is to move to Asia and enjoy the cheap living and beautiful women.

 

[PT Car Washer]

I’m 33 and have been a part time employee for 15 years now. At the moment Im happy with my shuttle/air position getting 50 hrs+ground pay.

My question is if I want to retire at age 50 which would be 32 years of service. Would it be more beneficial for me to go full-time for a better pension or just stick with this 50 hours PT shuttle job for as long as possible?

Also Let’s say I don’t want to receive my pension after I retire until The age 65 would it be more or would it be the same if I wanted to Receive it at age 50.

Thanks Everyone. I want out of this game! My dream is to move to Asia and enjoy the cheap living and beautiful women.

There is a 30 and out PT pension and a 35 and out PT pension. Also a 25 and out but with a penalty for retiring under 60. If you go FT you basically start your pension over.

 

[toonertoo]

You would still get your pt pension, and would start on a new ft pension. But I am not sure how many years you need to be "vested" to get it, or if you would already be vested since you have been an amployee for eons. go as soon as you can!!

 

[1989]

Thanks Everyone. I want out of this game! My dream is to move to Asia and enjoy the cheap living and beautiful women.

bring lots of penicillin

 

[Ilovetoast]

There is a 30 and out PT pension and a 35 and out PT pension. Also a 25 and out but with a penalty for retiring under 60. If you go FT you basically start your pension over.

You get penalized before 60! I guess that’s the price you have to pay to enjoy what little life you have left.

 

[PT Car Washer]

You get penalized before 60! I guess that’s the price you have to pay to enjoy what little life you have left.

Central Region Supplement: $1500/mo after 25 years at age 60. $1250/mo at any age.

 

[DELACROIX]

I’m 33 and have been a part time employee for 15 years now. At the moment Im happy with my shuttle/air position getting 50 hrs+ground pay.

My question is if I want to retire at age 50 which would be 32 years of service. Would it be more beneficial for me to go full-time for a better pension or just stick with this 50 hours PT shuttle job for as long as possible?

Also Let’s say I don’t want to receive my pension after I retire until The age 65 would it be more or would it be the same if I wanted to Receive it at age 50.

Thanks Everyone. I want out of this game! My dream is to move to Asia and enjoy the cheap living and beautiful women.

It depends what area you are currently working. The UPS pension plan for part timers in the Central is formulated in the Supplement and Master, and you hope that it would improve in 17 years. (wait and see)

It will be beneficial for you to wait till age 65 before you draw, unless you have the required time in to collect your pension. You do have a 6 percent per year deduction if you do not, if you retire at 50 years of age, that would mean a 90 percent subtraction of your monetary benefit. That would apply to your full time pension also if you chose to go into those positions.

Also you can not take your Health and Welfare coverages overseas, it will mean more once you get closer to age 50.

 

[brownmonster]

It depends what area you are currently working. The UPS pension plan for part timers in the Central is formulated in the Supplement and Master, and you hope that it would improve in 17 years. (wait and see)

It will be beneficial for you to wait till age 65 before you draw, unless you have the required time in to collect your pension. You do have a 6 percent per year deduction if you do not, if you retire at 50 years of age, that would mean a 90 percent subtraction of your monetary benefit. That would apply to your full time pension also if you chose to go into those positions.

Also you can not take your Health and Welfare coverages overseas, it will mean more once you get closer to age 50.

There are minimums after his 30 year mark so the 90% reduction would not apply.

 

[Shiftless]

I’m 33 and have been a part time employee for 15 years now. At the moment Im happy with my shuttle/air position getting 50 hrs+ground pay.

My question is if I want to retire at age 50 which would be 32 years of service. Would it be more beneficial for me to go full-time for a better pension or just stick with this 50 hours PT shuttle job for as long as possible?

Also Let’s say I don’t want to receive my pension after I retire until The age 65 would it be more or would it be the same if I wanted to Receive it at age 50.

Thanks Everyone. I want out of this game! My dream is to move to Asia and enjoy the cheap living and beautiful women.

I think you have a bigger concern. In your original posting you state this "Would it be more beneficial for me to go full-time for a better pension or just stick with this 50 hours PT shuttle job for as long as possible?"

Why know one is paying attention to you as a PT doing a FT job and not filing for that work to be a FT position?

Either this is BS! Or you are lucky to have have done this work, this long, without someone identifying it as a full time established position.

 

[DELACROIX]

There are minimums after his 30 year mark so the 90% reduction would not apply.

You would think, about 2 years ago a 22.3 retired in our building with over 35 years seniority, I believe 20 part time and 15 full time under the IBT/UPS pension plan. He found out that if he stayed part time for the same number of years he would be able to collect a higher benefit. His pension benefits were counted separate and the 6% penalty applied to both plans, he had a cow to say the least.

 

[badpal]

I think you have a bigger concern. In your original posting you state this "Would it be more beneficial for me to go full-time for a better pension or just stick with this 50 hours PT shuttle job for as long as possible?"

Why know one is paying attention to you as a PT doing a FT job and not filing for that work to be a FT position?

Either this is BS! Or you are lucky to have have done this work, this long, without someone identifying it as a full time established position.

What the OP isn't specific about is if the works a part time shift before he puts in the air shuttle hours. If that's the case its a normal occurance in a lot of centers. Thats why you see so many old part time millionaires out there, they rack up the overtime in the present. But just collect the part time pension in the end. Rather or not its a good call is always debated.

 

[olroadbeech]

talk to your pension office

 

[Shiftless]

At the moment Im happy with my shuttle/air position getting 50 hrs+ground pay.

badpal

I guess I even jumped the gun on that! Good Catch on the PT shift prior to air shuttle possibility.