UPS Special Pension Buyout Offer - December 2016
- Thread starter JMR07168
- Start date
Jaco Williams
Active Member
Can you provide a link to the calculator you used...?
UPSandy36109
Active Member
Pension offer:<<<
To Be Paid:
December 2016
Single Payment of:
$12,468.83
Election
Direct Cash-Out Payment
Direct Rollover to an IRA or Other Eligible Plan – All
Direct Rollover to an IRA or Other Eligible Plan – Partial
Description:
This option will pay a single lump sum payment of $12,468.83 calculated as of December 2016 in lieu of monthly payments. Once this payment is made, no further benefits are payable to you or any beneficiary from the Plan.
Submission:
Upon making this election, you will be asked to provide your rollover information in order to facilitate payment of your lump sum. If you elect a partial rollover, you also will be asked to provide information on what portion you want to receive as a direct rollover.
>>>
or, the monthly payment of...
<<<
Starting on:
December 2016
Monthly Annuity Payment Options
Single Life Only Annuity ($57.56)
Qualified Joint & 50% Surviving Spouse Annuity ($54.50)
Joint & 75% Survivor Annuity ($53.09)
>>>
Personally, I'm rolling ovee the money int an IRA. Even if it's just corporate bonds, I can make at least 5% annually on it from just the interest.
ColtLester45
Member
Here's mine.... 9.5 years of PT. ($465/mo pension at 65) I think I'll hold off and see what happens later. I'd wager they try to buy me out again in a few years.
To Be Paid:
December 2016
Single Payment of:
$13,581.21
Election
Direct Cash-Out Payment
Direct Rollover to an IRA or Other Eligible Plan – All
Direct Rollover to an IRA or Other Eligible Plan –Partial
Submit
Description:
This option will pay a single lump sum payment of$13,581.21 calculated as of December 2016 in lieu of monthly payments. Once this payment is made, no further benefits are payable to you or any beneficiary from the Plan.
Submission:
Upon making this election, you will be asked to provide your rollover information in order to facilitate payment of your lump sum. If you elect a partial rollover, you also will be asked to provide information on what portion you want to receive as a direct rollover.
To Be Paid:
December 2016
Single Payment of:
$13,581.21
Election
Direct Cash-Out Payment
Direct Rollover to an IRA or Other Eligible Plan – All
Direct Rollover to an IRA or Other Eligible Plan –Partial
Submit
Description:
This option will pay a single lump sum payment of$13,581.21 calculated as of December 2016 in lieu of monthly payments. Once this payment is made, no further benefits are payable to you or any beneficiary from the Plan.
Submission:
Upon making this election, you will be asked to provide your rollover information in order to facilitate payment of your lump sum. If you elect a partial rollover, you also will be asked to provide information on what portion you want to receive as a direct rollover.
UPSandy36109
Active Member
What are the chances of that? And when/how would that happen?
I look at it like free money(but not untaxable, obviously, lest the rollover) I didn't contribute a nickel towards it. I was a PT employee with 5 years in. So basically, it's $2500/year just for showing up.
jrhoderick
Member
Is there a website that it has you logging into? If so what are the steps? I was a friend/T TSG technician with 6 and half years. We were also told by management that we were in the same pension plan as they were.
Jaco Williams
Active Member
Is there a website they are providing to go to to make your election?
I haven't received the packet yet - I'm at work...
I haven't received the packet yet - I'm at work...
1989
Well-Known Member
There is no such thing as a financial expert. If there were, the Great Recession would not have happened. Very few would've lost any money. There are only buyers and sellers.
ColtLester45
Member
UPS Special Pension Payment Offer
*https://secure.worknetservices.com/ups/*
Make sure you type it exactly with the slashes (no asterisks).
*https://secure.worknetservices.com/ups/*
Make sure you type it exactly with the slashes (no asterisks).
Jaco Williams
Active Member
Looks like I'll be getting some beer & hookers...!
To Be Paid:
December 2016
Single Payment of: $74,753.26
Single Payment of:
$74,753.26
Election
Direct Cash-Out Payment
Direct Rollover to an IRA or Other Eligible Plan – All
Direct Rollover to an IRA or Other Eligible Plan – Partial
Rollover Type
Traditional IRA
Roth IRA
This option will pay a single lump sum payment of $74,753.26 calculated as of December 2016 in lieu of monthly payments. Once this payment is made, no further benefits are payable to you or any beneficiary from the Plan.
To Be Paid:
December 2016
Single Payment of: $74,753.26
Single Payment of:
$74,753.26
Election
Direct Cash-Out Payment
Direct Rollover to an IRA or Other Eligible Plan – All
Direct Rollover to an IRA or Other Eligible Plan – Partial
Rollover Type
Traditional IRA
Roth IRA
This option will pay a single lump sum payment of $74,753.26 calculated as of December 2016 in lieu of monthly payments. Once this payment is made, no further benefits are payable to you or any beneficiary from the Plan.
jrhoderick
Member
Mine is just shy of 20k! Take the money and run!
UPSandy36109
Active Member
UPSandy36109
Active Member
Woo hoo! Great!
THat'd almost pay off my house. Congrats!
UPSandy36109
Active Member
Amen to that.
ColtLester45
Member
Thats awesome if you're set up for retirement elsewhere. How many years did you work PT at UPS if you don't mind me asking? My "number" was 25k to pay off student loan debt, they barely offered me half of that. Went ahead and declined.
Jaco Williams
Active Member
I was on the airline side in aircraft maintenance for 16yrs.... Fulltime. I was making a little over $75k per year when I left. I'm 100% debt free, set up for my future retirement with where I'm working now + a healthy 401k. All is good. We are in the process of building a new home. We are lucky because this $$ is like a bonus to us. It will more then likely put a badass pool in the back yard with the new home being built. And some beer + hookers...
UPSandy36109
Active Member
FWIW, unless that's a pool that consists of underground tunnels to a gold mine, I don't think I'd spend that on a pool.
Jaco Williams
Active Member
FWIW, unless that's a pool that consists of underground tunnels to a gold mine, I don't think I'd spend that on a pool.
I hear ya there...!
Won't spend it all on the pool...!!
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