UPS Special Pension Buyout Offer - December 2016

[burrheadd]

Yes just waiting on that direct deposit to drop

it’s gonna be epic

 

[Shecoope]

Y’all I know this thread is old but everybody keep the updates of on your status of your pension buyout we put in the work at UPS we deserve what’s ours

 

[Gipsee]

They are taking 20% of that gross
24,000- 4,800(which is 20%)=19,200

 

[wil kemp]

They are taking 20% of that gross
24,000- 4,800(which is 20%)=19,200

Plus another 10% penalty for early withdrawal and you will still owe your state taxes. Also, this will count as ordinary income so your income tax bracket has most likely changed. Better set some aside to pay to the IRS in April.

 

[Gipsee]

Plus another 10% penalty for early withdrawal and you will still owe your state taxes. Also, this will count as ordinary income so your income tax bracket has most likely changed. Better set some aside to pay to the IRS in April.

Correct. I was just talking about the direct deposit....but if it doesn't change the income bracket should be fine.

 

[UpstateNYUPSer(Ret)]

They are taking 20% of that gross
24,000- 4,800(which is 20%)=19,200

...only if he elected to have the 20% withheld, which would have been the smart thing to do; actually, the smart thing to do would have been to roll it over to an IRA....

 

[Gipsee]

...only if he elected to have the 20% withheld, which would have been the smart thing to do; actually, the smart thing to do would have been to roll it over to an IRA....

It's not a choice on the buyout. They do a mandatory withholding.

 

[IVE GOTTA PACKAGE 4U]

It's not a choice on the buyout. They do a mandatory withholding.

Exactly

 

[UpstateNYUPSer(Ret)]

It's not a choice on the buyout. They do a mandatory withholding.

..as they should....

 

[Gipsee]

..as they should....

I totally agree.

 

[Noop]

So diid they say they will send out by the 23rd or will begin on the 23rd ?

 

[Shecoope]

So diid they say they will send out by the 23rd or will begin on the 23rd ?

One lady said the 23rd then I called back and they said by the 23rd

 

[Shecoope]

I just called to confirm that direct deposits will be sent out by December 23 so make sure you guys check your accounts for direct deposits it’s going to be a great Christmas

 

[clean hairy]

Once you get the offer may I suggest you contact a very good CPA to run the numbers.

Or, just ask Dave. He is a self proclaimed expert on everything!

 

[UpstateNYUPSer(Ret)]

Or, just ask Dave. He is a self proclaimed expert on everything!

Two words---roll over.

 

[burrheadd]

I just called to confirm that direct deposits will be sent out by December 23 so make sure you guys check your accounts for direct deposits it’s going to be a great Christmas

 

[DriveInDriveOut]

Two words---roll over.

SMH

 

[Shecoope]

Or, just ask Dave. He is a self proclaimed expert on everything!

You mean Dave Ramsey lol

 

[Shecoope]

View attachment 274516

Yes it is going to be lit

 

[Shecoope]

So diid they say they will send out by the 23rd or will begin on the 23rd ?

Are you expecting a rollover check or a direct deposit of lump sum or half and half