UPS Special Pension Buyout Offer - December 2016
- Thread starter JMR07168
- Start date
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.
Just reread it and it's unclear wether you're retired or not.
olroadbeech
Happy Verified UPSer
Once you get the offer may I suggest you contact a very good CPA to run the numbers.
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'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
margincharge1
Member
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?
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?
margincharge1
Member
ATTENTION!!!
Here's the contact phone number for more info. for those who received the UPS SPECIAL PENSION PAYMENT OFFER Notice.
(855) 216-8048
Here's the contact phone number for more info. for those who received the UPS SPECIAL PENSION PAYMENT OFFER Notice.
(855) 216-8048
margincharge1
Member
ATTENTION!!!
Here's the contact phone number for more info. for those who received the UPS SPECIAL PENSION PAYMENT OFFER Notice.
(855) 216-8048
JMR07168
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
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
Last edited:
UpstateNYUPSer(Ret)
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....
Prissy0120
Member
Is this offer for retired or certain age ex-employees?
UpstateNYUPSer(Ret)
Well-Known Member
Did you receive a post card?
Prissy0120
Member
Yes, I received one
UpstateNYUPSer(Ret)
Well-Known Member
Let us know what they offer you---not specific figures but rather what percentage they are taking away from you---and whether it can be rolled over so as to avoid the tax hit.
UpstateNYUPSer(Ret)
Well-Known Member
....which you would not receive until you reach normal retirement age, which is usually 65....
Ms.PacMan
Well-Known Member
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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