UPS Special Pension Buyout Offer - December 2016

Is there any chance you have a copy of section 2 of the packet? I returned mine and failed to fill out this section so I have to file a appeal. Everyone at the retirement dept can't seem to help me.
Thanks in advance! You can take a picture of it and send that. If you have.

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
 
My 1099 R form did Not have the boxchecked for Total Distribution (I took the pension buyout in December). So is it a mistake on Mellon's part or is there money still in the account that I don't know about? My tax advisor caught it today when he was doing my taxes. Does anyone else not have the box check marked? I'm under the retirement age so I knew I would be penalized. Just wonder if anyone else has the box checked or unchecked? Thanks.
 

UpstateNYUPSer(Ret)

Well-Known Member
My 1099 R form did Not have the boxchecked for Total Distribution (I took the pension buyout in December). So is it a mistake on Mellon's part or is there money still in the account that I don't know about? My tax advisor caught it today when he was doing my taxes. Does anyone else not have the box check marked? I'm under the retirement age so I knew I would be penalized. Just wonder if anyone else has the box checked or unchecked? Thanks.

Sounds like an ideal question to ask Mellon on Monday morning.

Just curious, and not wanting to start trouble, if you were hurting for money to the point where you felt it necessary to take pennies on the dollar on your pension, why are you paying to have your taxes done? 1099's are child's play.
 
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My 1099 R form did Not have the boxchecked for Total Distribution (I took the pension buyout in December). So is it a mistake on Mellon's part or is there money still in the account that I don't know about? My tax advisor caught it today when he was doing my taxes. Does anyone else not have the box check marked? I'm under the retirement age so I knew I would be penalized. Just wonder if anyone else has the box checked or unchecked? Thanks.
Box is unchecked
 

ski or die

Ski or Die
If I happen to be on Life Support and decide to tell the Doctor to pull the plug, should I contact them and tell them I'm interested in the Special Pension Buyout Offer?
 

By The Book

Well-Known Member
I'm assuming you're talking about pre-paying taxes. I'm not studying taxes right now as much as I am having a -$8,000 bank account if Mellon yanks back the deposit.
I'll be there promptly waiting on my bank to open the door tomorrow. ust wanted to know from anyone else if they could actually do that since it wasnt via ACH. It was such a large deposit, the bank put a three day hold on it to satisfy tgem it was a legit transaction. Could they really 'clawback' the check?
I think when they say they will recall the check, they are wanting it back. You said they mailed it to you so they are thinking you can just send another check(same amount) back to Mellon. They will then reissue the correct check with the taxes taken out. It sounds like you now don't have that amount in there to do that with? No worries just find out what the taxable portions are for your state and federal and set that aside for your tax returns. They either take it out and you pay nothing or they don't take it out and you pay....make sense? Have a great day!
 

BG321

New Member
Does anyone know if there is phone number or e-mail address *other* than those listed below that I can use to contact UPS about this offer and the status of my payout/rollover? I have attempted numerous times to get information about the packet I submitted in December, prior to the deadline, but to no avail.

Phone: (800) 643-4442
Email: [email protected]

I just spoke with BNY Mellon and they did not find me in their system, so they are not able to assist me. It appears as though UPS either did not receive my packet or they made a mistake in processing/not processing it.

I'd appreciate any help I can get!
 

Easy

New Member
The
Does anyone know if there is phone number or e-mail address *other* than those listed below that I can use to contact UPS about this offer and the status of my payout/rollover? I have attempted numerous times to get information about the packet I submitted in December, prior to the deadline, but to no avail.

Phone: (800) 643-4442
Email: [email protected]

I just spoke with BNY Mellon and they did not find me in their system, so they are not able to assist me. It appears as though UPS either did not receive my packet or they made a mistake in processing/not processing it.

I'd appreciate any help I
 

Easy

New Member
The same thing happened to me. When I called they just played stupid as though they never received my packet. So that's fine I'll just take my monthly payment and hope I live to be 95 so I can really stick it to them.
 

wil kemp

Member
I received my offer, my monthly payout at retirement would be $278, buyout would be about $24K. I am 51, I do have a 401k at my current employer as does my wife at hers. My thoughts would be to take the buyout pay off bills, put some away for the kids and my savings and leave some for the IRS man in April. Thoughts?
 
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