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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="DELACROIX" data-source="post: 4551165" data-attributes="member: 49065"><p>I haven't read the ERISA act lately, very, very boring reading by the way, but there could of been improvements on the age of participants to start vesting rights. I could be wrong on this but I believe that the age of 21 may be retroactive for those hired on before 2013, It does not help you with your 5 years if you hired in before age 21, instead of counting 5 you just get 2 if you happen to hire in at age 18.</p><p></p><p>That was the reason that the company was hiring young, strong men who happened to be going to college back in the 70's, 80's, 90's and early 2000, during those early years you were hired on with the ability to match the full time hourly rates. That is why many of those hired in the 70's and 80's might be better educated than most of those on the current corporate positions, we stayed because of the hourly rate, health coverage and the lack of high end jobs during recessionary time during those decades.</p><p></p><p>I still remember the requirement for any part timer (Union or Non-Union) who wanted a career at UPS had to run scratch for a month in order to be promoted or qualify, that changed around 2000 when they could not get enough women to fill their management positions so they eliminated that requirement.</p></blockquote><p></p>
[QUOTE="DELACROIX, post: 4551165, member: 49065"] I haven't read the ERISA act lately, very, very boring reading by the way, but there could of been improvements on the age of participants to start vesting rights. I could be wrong on this but I believe that the age of 21 may be retroactive for those hired on before 2013, It does not help you with your 5 years if you hired in before age 21, instead of counting 5 you just get 2 if you happen to hire in at age 18. That was the reason that the company was hiring young, strong men who happened to be going to college back in the 70's, 80's, 90's and early 2000, during those early years you were hired on with the ability to match the full time hourly rates. That is why many of those hired in the 70's and 80's might be better educated than most of those on the current corporate positions, we stayed because of the hourly rate, health coverage and the lack of high end jobs during recessionary time during those decades. I still remember the requirement for any part timer (Union or Non-Union) who wanted a career at UPS had to run scratch for a month in order to be promoted or qualify, that changed around 2000 when they could not get enough women to fill their management positions so they eliminated that requirement. [/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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