Retiring January 1st

[IVE GOTTA PACKAGE 4U]

That would be ... weird. Most people have been able to retire for years and its just a question of when and how much they will get.

Measure twice cut once. This is a decision that you have to live with for the rest of your life.

 

[zubenelgenubi]

That would be ... weird. Most people have been able to retire for years and its just a question of when and how much they will get.

Yeah, I could technically retire tomorrow and wouldn't be eligible for the pension payments until I turned 65. At my age, it would just be called quitting, though.

 

[oldngray]

Measure twice cut once. This is a decision that you have to live with for the rest of your life.

and HR is pretty much useless for answering questions. The union isn't much better either.

 

[IVE GOTTA PACKAGE 4U]

and HR is pretty much useless for answering questions. The union isn't much better either.

It's like a big mystery. Like you was the first person that ever retired ....

 

[quad decade guy]

It's like a big mystery. Like you was the first person that ever retired ....

And if you ask someone retiring or retired....it's like you are asking about 5th degree Masons.

So odd. But....retirements are pretty rare.

 

[IVE GOTTA PACKAGE 4U]

And if you ask someone retiring or retired....it's like you are asking about 5th degree Masons.

So odd. But....retirements are pretty rare.

My buddy retired last year and asked me to help him out with the process. I just couldn't believe the lack of answers . It just blew me away.

 

[oldngray]

And if you ask someone retiring or retired....it's like you are asking about 5th degree Masons.

So odd. But....retirements are pretty rare.

The biggest problem is the answers aren't the same for everyone with all the differences between plans.

 

[oldngray]

My buddy retired last year and asked me to help him out with the process. I just couldn't believe the lack of answers . It just blew me away.

HR was totally useless for me and the union acted like they never heard of anyone else having problems.

 

[brownelf]

This is definitely something to clarify with your local. Here many that are leaving in January 2020 are working a few days to get the CS increase that starts January 1. Know someone that had to do that in 2017 to get the extra $400, then took the next 3 weeks as vacation with February 1 as retirement date. That way he received his first pension check February 1 and was paid off for balance of vacation time a few weeks later. Every area is different, time to do your homework. Good luck and congrats.

 

[Maple Grove MN Driver]

He was hoping the experts here could guide him through the process.

So you don't need to post advice.
You aren't qualified

 

[Boywondr]

You ought to know how many vacation weeks you have, and which weeks you selected. As for the sick pay, in my area we accumulate around 6 sick days a year, and can accumulate up to 480 hours before the company starts automatic pay outs. I know that is not the case everywhere else, so how you accumulate sick time and how it is paid out will be determined by your local or regional language. As for optional days (personal holidays, rover days, whatever you call them), in my area again, they can be combined together with a sick day to get an extra week of vacation.

I think you just need to make sure you are actually still on the books while this time is paid out, rather than being paid a lump sum for money owed upon your official retirement date. The obvious advantage to staying on the books is continuing healthcare coverage.

I think everything lines up to where he would avoid that whether he took a lump sum pay out, or stayed on the books while being paid out. I think if he took all his vacation in a row he would be paid all that time two weeks before his first week of vacation anyway.

Here, your vacation pay is guaranteed to be given to you the last work day before you go on vacation...even if the company normally pays earlier than that (normally 2 wks) it's not guaranteed.

They try to keep from paying our two option days out if you retire after May 1 and some have had been screwed on that issue.

Scheduling your vacation weeks secured your healthcare coverage during those weeks and if it were my deal I would take all of my sick days (early in the year) before I left to make sure you got paid for them.

Getting a lump sum payment is great but everyone has their own situation. But I'd never retire before I saw all of my money in the bank because once your out of union representation it can get very frustrating to swim upstream with these people.

 

[quad decade guy]

The biggest problem is the answers aren't the same for everyone with all the differences between plans.

The strangest part is how so and so seemed to get $1000 more than published(contract) rates.

No explanation or reason except "see back then it was..."

 

[quad decade guy]

This is definitely something to clarify with your local. Here many that are leaving in January 2020 are working a few days to get the CS increase that starts January 1. Know someone that had to do that in 2017 to get the extra $400, then took the next 3 weeks as vacation with February 1 as retirement date. That way he received his first pension check February 1 and was paid off for balance of vacation time a few weeks later. Every area is different, time to do your homework. Good luck and congrats.

Local? Don't have a clue.

 

[zubenelgenubi]

Here, your vacation pay is guaranteed to be given to you the last work day before you go on vacation...even if the company normally pays earlier than that (normally 2 wks) it's not guaranteed.

They try to keep from paying our two option days out if you retire after May 1 and some have had been screwed on that issue.

Scheduling your vacation weeks secured your healthcare coverage during those weeks and if it were my deal I would take all of my sick days (early in the year) before I left to make sure you got paid for them.

Getting a lump sum payment is great but everyone has their own situation. But I'd never retire before I saw all of my money in the bank because once your out of union representation it can get very frustrating to swim upstream with these people.

Either way, two weeks, or the day before, it should all still be paid in one sum.

 

[Boywondr]

Either way, two weeks, or the day before, it should all still be paid in one sum.

They pay drivers here with separate checks for each vacation week.

 

[trickpony1]

We do here.lr costs $200 a month for a single and $400 for a family.

My friend thinks this sucks.
He's paying $200 a month (out of his Teamster pension check) to maintain the "Cadillac" Teamster health insurance for his wife ( who never did one minute of union labor) but he couldn't do the same for himself.

The folks at the union hall couldn't explain why his wife could get the insurance but he couldn't. He had to get a Medicare supplement policy.

 

[IVE GOTTA PACKAGE 4U]

My friend thinks this sucks.
He's paying $200 a month (out of his Teamster pension check) to maintain the "Cadillac" Teamster health insurance for his wife ( who never did one minute of union labor) but he couldn't do the same for himself.

The folks at the union hall couldn't explain why his wife could get the insurance but he couldn't. He had to get a Medicare supplement policy.

Some supplements don't offer retiree healthcare.


I assume you friend is over 65?

 

[trickpony1]

Yes.

 

[oldngray]

Some supplements don't offer retiree healthcare.


I assume you friend is over 65?

at 65 you get kicked off the insurance plan

 

[Future]

at 65 you get kicked off the insurance plan

We lose our insurance when we retire