UPS raising retirement age from 55 to 62?

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?
 
B

Buttcheese

Guest
FERNDOG said:
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?
UPS doesn't change retirement age..the government does.
 
R

retirement???

Guest
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??????
 

Hangingon

Well-Known 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.
 
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DHShreckenpuss

Guest
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!!
 
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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
 

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?
 

scratch

Least Best Moderator
Staff member
OPT3,

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.
 

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?
 

sendagain

Well-Known 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.
 

beentheredonethat

Well-Known Member
opt3 said:
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?

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.
 
O

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???
 

Channahon

Well-Known Member
Announcement to come out this week! I am sure it is not going to be a good one... What happened to the partnership???

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.
 
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