UPS Special Pension Buyout Offer - December 2016

JMR07168

Member
Hey! after updating my info per the request of the pension servicer a few weeks ago, I received this in the mail.
Anyone else get one?
Any idea on what the lump sum offer might be?
I am vested at $740/mo
Thanks
 

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Jackburton

Gone Fish'n
I'd be curious about your tenure here. I was just talking about a buyout on active members to a friend of mine the other day. Seems they are targeting current retirees, how much of your pension is from Central States vs the company.

Just reread it and it's unclear wether you're retired or not.
 

Outta there

New Member
Received same notification, retired 6 years ago after 26 years, was 46 at the time. Curious to see what the offer will be.
 

JMR07168

Member
I'd be curious about your tenure here. I was just talking about a buyout on active members to a friend of mine the other day. Seems they are targeting current retirees, how much of your pension is from Central States vs the company.

Just reread it and it's unclear wether you're retired or not.
I'm 36. 2045 is when my retirement would start to pay as I understand it.
I only had about 10 years of employment there. Most of it was part time.
 

JERAD THADEN

New Member
Hey! after updating my info per the request of the pension servicer a few weeks ago, I received this in the mail.
Anyone else get one?
Any idea on what the lump sum offer might be?
I am vested at $740/mo
Thanks[/QUOTE

i have no idea what the offer is but my feeling is get the money and go
 
I received the same UPS Special Pension Payment Offer Card a few days ago.
I worked for UPS a total of 16 years part time. I became disabled in 2006 so I had to resigned. I'm eligible for my pension at age 55. Still have 5 years to go. Does anyone know what the offer will be or how it will be calculated?
 
Hey! after updating my info per the request of the pension servicer a few weeks ago, I received this in the mail.
Anyone else get one?
Any idea on what the lump sum offer might be?
I am vested at $740/mo
Thanks
ATTENTION!!!

Here's the contact phone number for more info. for those who received the UPS SPECIAL PENSION PAYMENT OFFER Notice.
(855) 216-8048
 

UpstateNYUPSer

Well-Known Member
I used this calculator to estimate it.

PensionBenefits, Inc. - Lump Sum Value Calculator

I do not know if its accurate. Mine came to $104,490.56 with a 731.70 monthly benefit.
Definitely worth considering.

Also, I called 1-855-216-8048. No representatives will be available until the 29th of this month.
time to wait ;)
...which is why I advised earlier that anyone who received one of these letters needs to be patient and wait for their offer to come in the mail....do not act upon this offer alone....seek out a financial adviser....
 

badpal

Well-Known Member
I wish they would offer this to current employees, i fully vested, but would think long and hard about an onetime lump payout.
 

Ms.PacMan

Well-Known Member
....which you would not receive until you reach normal retirement age, which is usually 65....
Lump sum pension buyouts are paid at the time they're accepted by the employee, not age 65.

The amount would need to be rolled over into an IRA or a person will incur a 10% early withdrawal penalty and the amount will be taxed as ordinary income.

I can't comment on whether it's an okay deal until they post the actual buyout amount.
 
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