Discussion in 'UPS Discussions' started by GOAT/BESTSORTERALIVE, Oct 12, 2019.
Take the money and run.
Always take the lump sum.
Live for today.
Do you get yearly statements OP? I'm just a half dozen years And PT with many years doing getting the bare minimum hrs and my yearly payable benefit is in that $500 range/month too. You've been at ups 10 years? Something's not adding up even with the third option. Mine tends to increase $1,000 or so for every year worked.
By year 10, it should be at the $900-$1000/month range payable at 65.5/retirement. Check your statements and see what you really should or could be owed.
Age is a factor as well.
Nobody in their 20's is going to die----just ask them.
I just got this too for the second time ,so I am guessing this is a ripp off but if you have a health issues you may take the money and run .I thought it was around 50$ per year you worked part time .My full time pension is f... if I wait tell 65 I get the combo of the 2 .My buddy is calling he had 10 years part time just wondering what the figure is ?
I already have medical insurance and a pension plan somewhere else. I'm gonna cut ties with UPS this year. I look at the inflation etc. and $423 a month isn't worth it. I am a veteran medically retired and I work for the Federal government with 18 years in....this is not even a blip on my retirement funding so I am chucking the deuces and taking the money. I already will have 2 retirement checks. I'm glad I didn't take the first one because I am now 3 years older, and it increased 10k. By the time I am old enough to retire (2035) I doubt I can do a lot with $423 a month.
Buy a boat
The penalty is 10%. The distribution is taxed like regular income. Depending on your tax situation you may get anything that is withheld returned to you when you file.
Well my story is different . I started working in 2007 during the recession period . So from 07 to like 2012 I would only work about 10 or less hours a week, heck sometimes i would tallied zero hours . I was just at UPS for the benefits and the school assistance program . So even though I was an employee for 11 years , in actuality Im only getting credit for a fraction of that .
How do you know if you're eligible for this buyout?
You'll get a letter in the mail.
Is there a number to call?
I am 35 and worked 3 part time years and 12 full time years. This is the amount that they offered me... 6,760 dollars. I'm confused why this is so low?!? Any ideas?
Because of your age
Makes more sense now knowing that it is only for part time.
Already made my election. Got the lump sum rolling into an IRA.
The lump sum amount is bull though. They assume I'll be dead at 68?
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