Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
Teamsters CS DVD
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Cezanne" data-source="post: 261062" data-attributes="member: 5104"><p>Scratch,</p><p> </p><p>Please study the partial pension formula if you have any years under as a part timer under the UPS Pension Plan. The monetary benefit has not changed it is still at a percentage of a standard thirty year pension at the time you left that plan. It does not pay 55 dollars per vested part time year which most everybody is assuming. This works out for anybody who has alot of years under the Central States trust, but consider the driver or combo full time member who has over 20 years vesting as a part timer. If that employee worked those 20 years and another 10 years as a full timer under the Central States fund/IBT UPS fund, their retirement benefit would equal 1,750 with the assumption that any of those years are not subject to any six percent deduction.</p><p> </p><p>I believe that the 25 or 30 service benefit under the new plan is based on credit years, so your part time years are not going to count as a full vested service year (1801 straight houring hours). For example if you worked 10 years as a part timer you will only get credit for about 7 full service years, it all depends on how many hours you worked per year as a part time employee. Most of us in the Central States area have a good part of our vesting years as part time employees, it will take an additional 3 to 5 years to collect any service benefit. <img src="/community/styles/default/xenforo/smilies/group1/crying.gif" class="smilie" loading="lazy" alt=":crying:" title="Crying :crying:" data-shortname=":crying:" /></p><p> </p><p>This is not misinformaton, trust me...Still alot of unanswered question out there that need to be addressed.</p></blockquote><p></p>
[QUOTE="Cezanne, post: 261062, member: 5104"] Scratch, Please study the partial pension formula if you have any years under as a part timer under the UPS Pension Plan. The monetary benefit has not changed it is still at a percentage of a standard thirty year pension at the time you left that plan. It does not pay 55 dollars per vested part time year which most everybody is assuming. This works out for anybody who has alot of years under the Central States trust, but consider the driver or combo full time member who has over 20 years vesting as a part timer. If that employee worked those 20 years and another 10 years as a full timer under the Central States fund/IBT UPS fund, their retirement benefit would equal 1,750 with the assumption that any of those years are not subject to any six percent deduction. I believe that the 25 or 30 service benefit under the new plan is based on credit years, so your part time years are not going to count as a full vested service year (1801 straight houring hours). For example if you worked 10 years as a part timer you will only get credit for about 7 full service years, it all depends on how many hours you worked per year as a part time employee. Most of us in the Central States area have a good part of our vesting years as part time employees, it will take an additional 3 to 5 years to collect any service benefit. :crying: This is not misinformaton, trust me...Still alot of unanswered question out there that need to be addressed. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Union Issues
Teamsters CS DVD
Top