Retirement

[driver1983]

Do we get any vested time for years worked part time? Such as, 3 years part time + 22 years full time = 25 and out.

 

[jimstud]

part time counts as half 3 years part time plus 22 full = 23and a half

 

[bumped]

I could be way off, but I thought one needed 5 years part time to be vested for the retirement.

 

[ups79]

isn't part time years through ups and full time years through the union? do you really get to add these two together?

 

[soberups]

In my area you need 500 hours in a calendar year in order for that year to count towards PEER 80. So a part-timer working 3.5 per day would get there in about 29 weeks.

 

[dilligaf]

In my area you need 500 hours in a calendar year in order for that year to count towards PEER 80. So a part-timer working 3.5 per day would get there in about 29 weeks.

I think it is the same here Sober.

 

[rod]

Another one of those subjects that is determined by where you are. Get this info straight from your Union so you won't be surprised further down the road.

 

[MC4YOU2]

In my area you need 500 hours in a calendar year in order for that year to count towards PEER 80. So a part-timer working 3.5 per day would get there in about 29 weeks.

Here too, except when starting out PT we are in PEER 82, which gets rolled into PEER 80 upon becoming FT. But hours wise, it's like you said, 500 annually counts as one year.

 

[Jones]

Another one of those subjects that is determined by where you are. Get this info straight from your Union so you won't be surprised further down the road.

+1
In my local part time years don't count towards your retirement/pension. You get 55$ a month from the company for every year worked part time.

 

[paidslave]

This statement is an oxymoron! You don't get credit but you get 55 dollars a month,

am I missing something?

 

[jimstud]

to get a full years credit you need 1800 hours , at least that what it is in new england. as a part timer you get at least4 hours contributed to the pension every day you worked so part timers earn at least a half years credit for every year they work. again this is in new england.

 

[Cezanne]

Well here we go again, another incomplete absolution to the old question of what we would be entitled to once we qualify for a retirement. It differs from whatever plan you are under, try to obtain a Summary Plan Description for your pension, also try to get a Summary Pllan Description for you medical benefits as a retiree. Just from past experience expect alot of smoke and hee hawing around, nothing dumbs down a HR representive or union rep than to ask about your retirement package.

 

[rod]

Well here we go again, another incomplete absolution to the old question of what we would be entitled to once we qualify for a retirement. It differs from whatever plan you are under, try to obtain a Summary Plan Description for your pension, also try to get a Summary Pllan Description for you medical benefits as a retiree. Just from past experience expect alot of smoke and hee hawing around, nothing dumbs down a HR representive or union rep than to ask about your retirement package.

+1

 

[feederdriver06]

This may be a local to local thing but your part time years DO NOT COUNT as a 2 for 1 credit in your union pension. Part time years vest you in a company pension NOT the union pension. I hear people in my building talking about this from time to time and its really lame that they are being misguided by someone about this . 2 seperate pensions.

 

[ups79]

I think thats what I said.

 

[Jones]

This statement is an oxymoron! You don't get credit but you get 55 dollars a month,

am I missing something?

I probably wasn't clear. The $55 a month per year of part time service is from the company. It's completely separate from the pension we get from the union for which you will get no credit for your part time years.

 

[Bad Gas!]

I think the pension questions dumb down everyone...And just when you think you got it figured out, dang if it don't change again...

 

[dannyboy]

This may be a local to local thing but your part time years DO NOT COUNT as a 2 for 1 credit in your union pension. Part time years vest you in a company pension NOT the union pension. I hear people in my building talking about this from time to time and its really lame that they are being misguided by someone about this . 2 seperate pensions.

Feeder

The way it is here, UPS has agreed with the teamsters to allow a driver with 22 years full time, and 6 years part time, to retire under the 25 and out program. Each part time year, where you worked at least 600 hours counts 1/2 full time year. And actually, here you can buy out your last year of service ie, work 24, buy out year 25 and retire now.

So yes, it is different from one area to another.

If the driver does not combine the two retirements, they can draw their UPS retirement at the current retirement date, which was 55, dont know what it is now. And you do get $55 a month for each year worked part time.

Two more things.

Do not rely on someones words, get it in writing from the teamster office, with your name and date on it. The reason is part two

Two, the ability, date, requirements to be able to retire can change very easily at the Teamsters board meetings, many which are held behind closed doors, and most 2-6 times a year. Policy changes are your responsibility to know, so dont hand in your resignation papers until you have your plan in writing from your plan. If what you have is more than 3-6 months old, get a new statement from the union.

Things change, and they change fast. Be prepared.

d

 

[feederdriver06]

The way it is here, UPS has agreed with the teamsters to allow a driver with 22 years full time, and 6 years part time, to retire under the 25 and out program. Each part time year, where you worked at least 600 hours counts 1/2 full time year. And actually, here you can buy out your last year of service ie, work 24, buy out year 25 and retire now.

To have this option is a beautiful thing . My local currently does not

 

[trplnkl]

My retirement is from the UPS/Teamsters plan. I get a check from them for my nearly 23 years as a driver, I receive another check from UPS for my 3.5 years as a non-union part timer. If I had been a union PTer those 3.5 years would have been added to my 22+ at a 1/2 basis.