UPS raising retirement age from 55 to 62?

Discussion in 'UPS Retirement Topics' started by FERNDOG, Feb 9, 2006.


    FERNDOG New Member

    There is an UGLY rumor in my district that UPS is raising the retirement age for managment up to 62...any input on the subject?
  2. Buttcheese

    Buttcheese Guest

    UPS doesn't change retirement age..the government does.
  3. Yup, even heard it from people in HR. I've heard 57 and 60. Also heard further pension changes.

    Why did we go public again??????
  4. Hangingon

    Hangingon New Member

    I haven't heard anything, but I'll help it along if you want. It would be nice to see their faces when first told about it.
  5. retired2000

    retired2000 Active Member

    goverment does not set the age you can leave. the company and the pension plans do.
  6. YES it is only for management and admin (the union still does the 80 and out or whatever the local language is. Anyway, 62 for new people entering and somewhere between 55 and 62 for those "grandfathered" depending on years of service and age. I am 48 so I see them maybe extending my tour of duty to 56 or 57, but you young bucks are so screwed!!
  7. Hangingon

    Hangingon New Member

    Dang, it's 80 and out now? Oh well guess that means the pension funds will be fully funded in no time.
  8. laborer

    laborer New Member

    The new 80 and out program is designed to relieve the stress of workers having to worry about funding their retirement days....

    BSUUPS New Member

    Yeah, I heard the same rumor as DHshreckenpus. Unfortunately, I am only 29 and will be working forever.
  10. Brown Puppy

    Brown Puppy Guest

    I heard that an announcement will be made soon. All current mgmt and admin will still be able to retire at 55. However, whenever this announcement is made...the new retirement age for new hires will become 58.

    Sounds fair at least to me...

    -Brown Puppy
  11. opt3

    opt3 opt3

    whats instore for the young bucks like myself im only 27. 80 and your out thats 53 more years . will the ret. age ever decrease?
  12. scratch

    scratch Least Best Moderator Staff Member


    I'm disappointed too in the new Eighty and Out Central States Pension Plan. I was planning on the Fourty and Out Plan, but will start looking forward to retiring at the tender age of ninety-seven.
  13. opt3

    opt3 opt3

    Theres talk down here that bigbrown wants to buy out the penplan although thats what lead to the strike awhile back. if thats true any input good,bad,or otherwise?
  14. sendagain

    sendagain Member

    The "Golden 80" plan has been in effect out west for some years; took advantage of it myself. If your age plus years of service reach 80, then you can leave and start drawing your pension.
  15. beentheredonethat

    beentheredonethat Well-Known Member

    The 80 and out is for years or service and your age combined. If you started at 20 then you have 7 years in and you are 27 so you have 34 combined. To get to 80 you'd need 46 more combined years or 23 more years, which gets you to 50 (30 years of service + 50 years old = 80 and out). However, if your plan doesn't already have it, I don't see any plans implementing it (mgmt or teamster). If your plan does have it, I wouldn't be surprised to see it pushed back or having 80 and out with a minimum age.
  16. Old and Grey

    Old and Grey Guest

    Announcement to come out this week! I am sure it is not going to be a good one... What happened to the partnership???
  17. X HR

    X HR Guest

    Partnership - It was revised, it now starts at the division level and up.
  18. Channahon

    Channahon New Member

    It'll be a good announcement, just like flex benefits, MIP changes. Someone will be giving the presentation and as always, putting a positive spin on the change. Most of my HR friends were ready to throw up, having to give the information, knowing the changes were not the best for UPS management.

    Although I am retired since last January, I still plan on my benefits changing, and plan my finances accordingly.

    Still a great retirement package, as long as it lasts. FedEx leads the charge on this one, and UPS will follow.
  19. I am planning on retiring the first of June, hope it doesn't affect me
  20. helenofcalifornia

    helenofcalifornia Well-Known Member

    What do you mean Fedex is leading the charge in changes? What changes? And just for management, right?