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What exactly happens with a part time 5 year vested pension? Is it worth it to get just a 5 year pension?
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<blockquote data-quote="KTea" data-source="post: 4551102" data-attributes="member: 81362"><p>Shoot, would I lose the years before I turned 21 as well? I started when I was 18 and have a birthday in May. That is a load of bull... I tried reading the Master Agreement and here is what it says</p><p></p><p>"The Company will amend the UPS Pension Plan to allow an employee with an hour of service in covered employment on or after August 1, 2013 to become a participant on the January 1 or July 1 (whichever is earlier), after reaching age 21 and completing a 12 month period of employment beginning on their hire date, or any subsequent calendar year, in which they earned at least 375 hours of service. In addition, in order to receive any retroactive benefit service as a result of the change, the employee’s primary job as of August 1, 2013 must be a part-time position. The Pension Plan will also be amended to reduce the number of hours of service required to earn a vesting year from 750 to 375. This paragraph does not change how benefit service is accrued." </p><p></p><p>It sounds like my 18-21 years don't count because I started in 2015?</p></blockquote><p></p>
[QUOTE="KTea, post: 4551102, member: 81362"] Shoot, would I lose the years before I turned 21 as well? I started when I was 18 and have a birthday in May. That is a load of bull... I tried reading the Master Agreement and here is what it says "The Company will amend the UPS Pension Plan to allow an employee with an hour of service in covered employment on or after August 1, 2013 to become a participant on the January 1 or July 1 (whichever is earlier), after reaching age 21 and completing a 12 month period of employment beginning on their hire date, or any subsequent calendar year, in which they earned at least 375 hours of service. In addition, in order to receive any retroactive benefit service as a result of the change, the employee’s primary job as of August 1, 2013 must be a part-time position. The Pension Plan will also be amended to reduce the number of hours of service required to earn a vesting year from 750 to 375. This paragraph does not change how benefit service is accrued." It sounds like my 18-21 years don't count because I started in 2015? [/QUOTE]
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What exactly happens with a part time 5 year vested pension? Is it worth it to get just a 5 year pension?
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