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Brown Cafe UPS Forum
UPS Partners
UPS Management Retirement Pay out next year?
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<blockquote data-quote="Catatonic" data-source="post: 992119" data-attributes="member: 7966"><p>Good luck on that. They just know what is in the pop-up box activated by the "Blue ?".</p><p></p><p>See below in italics for the explanation for the calculation of the value of one's retirement plan:</p><p> <strong><em>UPS Retirement Plan Present Value</em></strong></p><p></p><p> <em>The present value shown is the estimated amount UPS needs to set aside today to pay your accrued benefit at your Normal Retirement Date (generally age 65). Your accrued benefit is based on your earnings and service through the date shown. The present value is based on the following <u><strong>assumptions</strong></u>: </em></p><ul> <li data-xf-list-type="ul"><em>The benefit valued is your accrued benefit, with monthly payments starting at your Normal Retirement Date for your lifetime. </em> </li> <li data-xf-list-type="ul"><em>Interest of 6% per year is earned from now until your benefit has been paid. </em> </li> <li data-xf-list-type="ul"><em>A group annuity mortality assumption is included to determine the length of your retirement. </em> </li> </ul><p> </p><p></p><p>A few notes from me: </p><p>If you have 35 years or more, the Normal Retirement Date is your 60th birthday.</p><p>If you have less than 35 years, the Normal Retirement Date is your 65th birthday.</p><p>Your monthly benefit will be reduced by 3% for each year you retire before your Normal Retirement Date.</p><p></p><p>Purchasing a life based annuity with the amount will replace about 40% of your monthly pension payment as of June 2012 with rates at 1 - 1.75%.</p><p>In 2007, you could purchase about 100% replacement when the rates were 6 - 6.25%</p></blockquote><p></p>
[QUOTE="Catatonic, post: 992119, member: 7966"] Good luck on that. They just know what is in the pop-up box activated by the "Blue ?". See below in italics for the explanation for the calculation of the value of one's retirement plan: [B][I]UPS Retirement Plan Present Value[/I][/B] [I]The present value shown is the estimated amount UPS needs to set aside today to pay your accrued benefit at your Normal Retirement Date (generally age 65). Your accrued benefit is based on your earnings and service through the date shown. The present value is based on the following [U][B]assumptions[/B][/U]: [/I] [LIST] [*][I]The benefit valued is your accrued benefit, with monthly payments starting at your Normal Retirement Date for your lifetime. [/I] [*][I]Interest of 6% per year is earned from now until your benefit has been paid. [/I] [*][I]A group annuity mortality assumption is included to determine the length of your retirement. [/I] [/LIST] A few notes from me: If you have 35 years or more, the Normal Retirement Date is your 60th birthday. If you have less than 35 years, the Normal Retirement Date is your 65th birthday. Your monthly benefit will be reduced by 3% for each year you retire before your Normal Retirement Date. Purchasing a life based annuity with the amount will replace about 40% of your monthly pension payment as of June 2012 with rates at 1 - 1.75%. In 2007, you could purchase about 100% replacement when the rates were 6 - 6.25% [/QUOTE]
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UPS Management Retirement Pay out next year?
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