PT Car Washer
Well-Known Member
According to the Central Region Supplement 30 and out at any age is $1950/mo for a PT Union member.
What exactly happens with a part time 5 year vested pension? Is it worth it to get just a 5 year pension?
You are going for 50 and out?
PT Car Washer
Well-Known Member
Not me. Talking to a Feeder driver a couple weeks ago. 47 years seniority and 70 years old. Told me he is wanting to stay another 6 years.
Now that's crazy. He is probably collecting his pension and social security.
Can't take it with you.
Rick Ross
I'm into distribution!!
We have a few with more time then that. I think 1970 or 1971 is their full-time hire date. I don't know if it's greed or stupidity but anyone working that long needs to get a life, IMO.
I've been in both the UAW and the Teamsters. One common thing in both unions is that very few retire when first eligible. It may be different in other locals but almost all retirees in my feeder department have close to 40 years seniority.
DELACROIX
In the Spirit of Honore' Daumier
Six percent for every year prior to age 65, The UPS Pension Plan for part timers will pay a percentage of how many credit vesting years you have at the time of retirement. Right now the standard for a 30 year part time pension is somewhere around 1850, so you will get 5 percent of that monetary benefit, 194 at age 65, again if you decide to collect before age 65 it is reduced by that fore mentioned 6 percent. With inflation and such it just might pay for your monthly cell phone bill...enjoy
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Sometimes the 30 and out isn't enough money, especially with the shape of many of these pension plans. Who wants to retire to go get another job?
Everyone has a different agenda in life and that's certainly your business but I think 50 years of this place is way too much for anyone
Western conference pension here. At my 5th year fully vested, it was set at $5700/year, or $475/month. Every year since then it’s gone up $1500-$3000 depending on hours worked.
We had one 26 year old gut it out to 5, and another at 4 years 9 months quit. It’s all about choices. I would personally get that 5 years and guaranteed $5 grand a year at retirement. Or like others, wait for a payout.
Many are talking about much lower amounts though. So it all depends on where you’re located. Don’t they send you paperwork?
We had one 26 year old gut it out to 5, and another at 4 years 9 months quit. It’s all about choices. I would personally get that 5 years and guaranteed $5 grand a year at retirement. Or like others, wait for a payout.
Many are talking about much lower amounts though. So it all depends on where you’re located. Don’t they send you paperwork?
Ancient Alien
UPS Vacation
Factoring in 40-years from now. A monthly payment might be around 2 Big Macs & a Coke. I personally believe at your youth. If you're not going to go the distance at UPS. Get out young & healthy and mentally happy. Plus, Amazon is eating our Founder's Day Cake. Bezos (the clown) knows how to massage his workforce. He's stepping it up all the time because he has the monetary fortitude to give hero pay, state of the art facilities and equipment. Pictures of each driver release. He's absolutely crushing UPS.I'm a package handler and I have worked at UPS since Peak 2015, I recently graduated from university and got a day job and am trying to start a career. However, I am only 5 months and 400 hours away from getting my 5 years of 750.
Today I got in an argument with my FT Sup over a warning letter I was receiving for call-offs after A) No Verbal warning and B) a total of 4 call-offs in the past year. He is, for lack of a better term, an. At some point during the conversation, all my contemplations of leaving over the years culminated into me putting in my two weeks and him telling me not to come back at all. My coworkers convinced me to talk to the hub manager to at least have the weekend to think about it. The hub manager looked at my attendance and officially rescinded the letter, and apologized for my treatment by my FT. However, I'm not sure if it's worth staying still or not.
Sorry for all the back story, to get to the point;
How would I go about finding how much of a pension I could get if I stayed working until January? And I was also reminded of the ability to cash it out, is there a way to find out the penalties on that? Is it worth it to stick it out the 5 months when I could be using my time for something more relevant to my future and that pays 2-3$ more, with its own pension opportunities?
Also, it's very possible their will be no pension in 40-years. You'll be the first cut from the mix if that happens.
Or stay and focus on your raise in 3-weeks. I say run, run far away! Buy yourself a retirement Disney movie the day you beat feet. Maybe a #3 at McDonald's too!
And that's a good reason to put that 80¢ raise in your 401k.Factoring in 40-years from now. A monthly payment might be around 2 Big Macs & a Coke. I personally believe at your youth. If you're not going to go the distance at UPS. Get out young & healthy and mentally happy. Plus, Amazon is eating our Founder's Day Cake. Bezos (the clown) knows how to massage his workforce. He's stepping it up all the time because he has the monetary fortitude to give hero pay, state of the art facilities and equipment. Pictures of each driver release. He's absolutely crushing UPS.
Also, it's very possible their will be no pension in 40-years. You'll be the first cut from the mix if that happens.
Or stay and focus on your raise in 3-weeks. I say run, run far away! Buy yourself a retirement Disney movie the day you beat feet. Maybe a #3 at McDonald's too!
That's your money
silenze
Lunch is the best part of the day
Absolutely. They will offer to buyout your pension. It may be a few years down the road but a few thousand dollars is worth sticking around for.
They would love the part-timers to quit before 5 years and make that fund look better
Ancient Alien
UPS Vacation
Also, with 8-digit unemployment numbers and Covid doubling every month now. UPS will see less of the pie as Amazon will see more & more. If you live in Kansas or Montana you don't really see any of this. Where the population & money is located you're really starting to see it now. UPS global reach is shuttering too as Amazon's grows.
Get you a job at Sherwin-Williams and stay there for the long term something along those lines. A 1990 Sherwin-Williams employee leaving today would of made more than a 1990 UPS full time driver employee and never cleared over $60k. Providing they were assistant store manager or higher by way of their stock bonuses. I also know a guy in my city... worked 28-years now at an employee owned grocery store (that made it, most don't) and he showed me he had over $3-million in his 401k. His title; Back Room Manager, just an hourly title. Not salaried.
Don't be afraid to venture out and discover there's a lot of great ways to earn a solid living. None of my neighbors worked at UPS and they're doing good too. If you're technologically talented. You could go far.
The only thing I would say to you that would be sensible to stay at UPS is if you have to have money & insurance during Covid. There's not a whole bunch of jobs to choose from right now. This could take two more years. So if you got good opportunities if you flee this popsicle stand. I would hit it... ASAP! Don't quit because you got an unethical supervisor that's not fair or a meanie. Have a game plan for when you do leave. Then you'll never feel guilty you left. Check out on your terms.
Get you a job at Sherwin-Williams and stay there for the long term something along those lines. A 1990 Sherwin-Williams employee leaving today would of made more than a 1990 UPS full time driver employee and never cleared over $60k. Providing they were assistant store manager or higher by way of their stock bonuses. I also know a guy in my city... worked 28-years now at an employee owned grocery store (that made it, most don't) and he showed me he had over $3-million in his 401k. His title; Back Room Manager, just an hourly title. Not salaried.
Don't be afraid to venture out and discover there's a lot of great ways to earn a solid living. None of my neighbors worked at UPS and they're doing good too. If you're technologically talented. You could go far.
The only thing I would say to you that would be sensible to stay at UPS is if you have to have money & insurance during Covid. There's not a whole bunch of jobs to choose from right now. This could take two more years. So if you got good opportunities if you flee this popsicle stand. I would hit it... ASAP! Don't quit because you got an unethical supervisor that's not fair or a meanie. Have a game plan for when you do leave. Then you'll never feel guilty you left. Check out on your terms.
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silenze
Lunch is the best part of the day
Honestly i don't even know if they fund the pension if you have less then 5yrs in. They may make a lump sum payment into the fund at 5yrs. There is a reason we are not 100% funded
silenze
Lunch is the best part of the day
Yes he should have started working there before he was born then he would be rich.
This is not 1990. You are not making any money at Sherwin Williams now. Same with a grocery store.
They don't have to fund feature people when people are less than 5 years quit
Amazon cannot handle what they have now.
Maybe that will change later but for now on online shopping can get bigger and bigger and bigger
Thanks for the info everybody, I work in the 243, and I'm only 23. I think sticking it out my 5 months will be worth it for a buyout in a couple of years if I'm offered it or for a big mac a month when I'm 65+, if the pension is still even around by then.
As for quitting past that, I'm out of here as soon as I cash in my three weeks of vacation and set up the pension stuff next year. I have a bachelor's degree and a part-time job working with kids with autism for more money than UPS, and can become fulltime whenever I ask for it. The company I'm with would pay for my schooling to get a master's degree and has ample career opportunities, so Sherwin Williams isn't necessary, hopefully lol. If not, there is one down the street from my hub. I can wave to all the people going to Concentra that I know.
I've just stuck it out this long, might as well get the 5 years to piss off my FT sup, and to not let all my physical labor go to waste.
As for quitting past that, I'm out of here as soon as I cash in my three weeks of vacation and set up the pension stuff next year. I have a bachelor's degree and a part-time job working with kids with autism for more money than UPS, and can become fulltime whenever I ask for it. The company I'm with would pay for my schooling to get a master's degree and has ample career opportunities, so Sherwin Williams isn't necessary, hopefully lol. If not, there is one down the street from my hub. I can wave to all the people going to Concentra that I know.
I've just stuck it out this long, might as well get the 5 years to piss off my FT sup, and to not let all my physical labor go to waste.
Ancient Alien
UPS Vacation
I remember reading here the supervisor say a few years back that
Amazon won't quit UPS 100%. If we opened up a brand new sealed deck of cards to play high card. The card you picked and the one I picked are equally balanced on who the lucky winner is. Right?
Amazon has the ability to quickly record into their system that dentist at Fire Lake complains 1 out of 4-times and takes our drivers time up or the Younger Ranch on Teko Summit is 5-miles in and 5-miles out and in the winter our drivers get stuck in his driveway 15% of time. Amazon will slowly keep sending UPS the least profitable deliveries or the money losing parcels and/or stops. Wasn't that long ago we'd lose business to FedEx or gain or retain a lucrative business in service & price. Remember that big puzzling quiz that UPS would have at PCM's or annual sit downs about what customers want the most... a non damaged package, a package delivered on time, to be able to track their package. I always got it wrong and picked the damage is their biggest concern and it turned out is was tracking, That was their #1 priority. Amazon is leaps & bounds ahead of UPS on technology. Plus have younger enthusiastic techno savvy employees. UPS is old school. Sweat, Blood & Guts. That's a recipe for disaster in the 21st century.
Amazon pulled away from Business to Business recently. Covid pushed them back. They don't want to be known as a sloppy company. Which it was looking that way at first. Amazon will be back. Better & Stronger delivering billions a year to major box stores.
It would be foolish for UPS not to believe they're a real threat and over $3,000 a share for AMZN is an easy way to fund your operations by liquidating some stock. Say Amazon needed a nice state of the art distribution center that costs $30,000,000, AMZN would need to sell 10,000 shares. Say UPS needed one at $30-m. They'd need to sell over 260,000 shares.
Amazon has got UPS by the short hairs. Plus the management team is loaded with former center managers and supervisors. They know how UPS looks and plans 10-years forward. (UPS plans 10-years out if you didn't know)
It's not good. We'd of all laughed 15-years ago thinking UPS will be put out of business during our lifetime. I don't think any loyal UPSer is laughing now and there's not a great many loyal ones left.
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