Discussion in 'UPS Discussions' started by hipec, Jun 17, 2018.
Does anyone know what age does the ups retirement transfer to central states retirement thank u
Age has nothing to do with it
I'm drawing ups pension now age 53 but at some point I think central states has some of my years, I'm in oklahoma
They transferred @rod over to CS when he was 132.
65 years young
I have no idea what you are talking about
At age 65 you will get 2 checks. One from the UPS plan and one from Central States.
Any (full time) years prior to 2008.... is what you have vested in Central States.
As soon as you retire you will get 2 pension checks (if you worked after 2007). You don't have to wait until 65.
"The UPS/IBT Plan will recognize full-time service in the CS Plan for determining eligibility for the benefits in this section and will offset at Normal Retirement Age the benefits accrued from the CS Plan commencing at Normal Retirement Age."
@oldngray.... maybe I'm miss-understanding your post ?
The OP will collect his pension check from the UPS/IBT plan until age 65.
Then, Central States picks up their portion. Hence the 2 checks (for the total amount)
The most relevant part of this language is;
"If the benefit paid from the CS Plan is reduced as permitted or required by law, the amount of such reduction shall not be included in this offset."
I got the impression, the OP was concerned if Central States bites it....
His entire pension was left with Central States.
This is correct. And if you have enough years to qualify, you will receive a third check from UPS (the company) for the part time pension. And then there is SS. Checks hitting the bank, baby.
Retire at 62.... and start taking that "reduced" SS payment.
When you retire and are covered under both plans (UPS and Central States)you will always get 2 checks (one from each plan) regardless of age. What happens at 65 is where the money comes from. If you didn't work any years after 2007 you aren't covered by the UPS plan and don't get the guarantee about UPS covering pension shortfalls (and are potentially screwed).
When You Reach age 65 as I have, you will receive two checks equal to the amount you were receiving from UPS at the beginning of your retirement.
UPS covering Central States portion is negotiated each contract, UPS can stop this as soon as next contract.
Thats what worries me. Promises are only good until the next contract.
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