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Brown Cafe UPS Forum
UPS Union Issues
Think it thru....Pension Takeover
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<blockquote data-quote="sawdusttv" data-source="post: 242401" data-attributes="member: 7476"><p>Brett,</p><p>Let me give you a scenario:</p><p>Number one, UPS stated that they would reinstate the 30 and out clause, CS has not said that. So, even if UPS buys there way out, our pension up to the time of the buy out stays with CS, anything accrued after that would go into the new fund.</p><p>So, someone with say 25 years would get a pension from CS for 25 years with the rest of their years of pension coming out of the new plan. Well the new plan has 30 and out. So this person would draw 5 years pension at any age from the new plan, but they will still have to wait until age 62 or 65 to draw the 25 years of pension from CS who has not reinstated the 30 and out clause.</p><p>Myself for example, I will have 30 full time at age 51. I could draw my five years from UPS at that time but would still have to wait 11 more years to draw the 25 from CS. In other words, most people still can not retire until age 62 or 65, unless you're a new hire.</p></blockquote><p></p>
[QUOTE="sawdusttv, post: 242401, member: 7476"] Brett, Let me give you a scenario: Number one, UPS stated that they would reinstate the 30 and out clause, CS has not said that. So, even if UPS buys there way out, our pension up to the time of the buy out stays with CS, anything accrued after that would go into the new fund. So, someone with say 25 years would get a pension from CS for 25 years with the rest of their years of pension coming out of the new plan. Well the new plan has 30 and out. So this person would draw 5 years pension at any age from the new plan, but they will still have to wait until age 62 or 65 to draw the 25 years of pension from CS who has not reinstated the 30 and out clause. Myself for example, I will have 30 full time at age 51. I could draw my five years from UPS at that time but would still have to wait 11 more years to draw the 25 from CS. In other words, most people still can not retire until age 62 or 65, unless you're a new hire. [/QUOTE]
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Think it thru....Pension Takeover
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