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Brown Cafe UPS Forum
UPS Retirement Topics
Started at UPS May 2016 in Texas
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<blockquote data-quote="PT Stewie" data-source="post: 4559196" data-attributes="member: 12889"><p>The key for the part time pension at your age is to get to 65 . If you get to 65 with 25 years of service you get a balloon. If you have 20 in @ 60 they will penalize you for every year under 65. I did 23 and went out @ 65 and net about $1000.00 a month guaranteed for 10 years. If I check out they will pay my wife. After 10 the money is still good but with no beneficiary benefit .About the only thing good that NJ does is not tax low dollar pensions. You need 750 hrs worked in a calendar year for a full pension credit. You get partial for less time. . The formula is $60.00 per year worked x the number of years . The pension comes directly from the company not the Teamsters.</p><p> It is a tough thing to work 2 jobs for all that time. Good Luck!</p></blockquote><p></p>
[QUOTE="PT Stewie, post: 4559196, member: 12889"] The key for the part time pension at your age is to get to 65 . If you get to 65 with 25 years of service you get a balloon. If you have 20 in @ 60 they will penalize you for every year under 65. I did 23 and went out @ 65 and net about $1000.00 a month guaranteed for 10 years. If I check out they will pay my wife. After 10 the money is still good but with no beneficiary benefit .About the only thing good that NJ does is not tax low dollar pensions. You need 750 hrs worked in a calendar year for a full pension credit. You get partial for less time. . The formula is $60.00 per year worked x the number of years . The pension comes directly from the company not the Teamsters. It is a tough thing to work 2 jobs for all that time. Good Luck! [/QUOTE]
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