What's the earliest you can retire?
- Thread starter SLW
- Start date
Shiftless
Well-Known Member
First, this info can be somewhat figured out. Your Teamster agreement with the company will morph as you age and hopefully wont diminish if the economy tumbles in your term of servitude. Your answer is in the Teamster region/contract you work under. There is where you look.
Don't depend on what you see on this forum! Every region is different!
I was in the Western region under PEER 80. That means when years of service and age combined make the number 80? You could retire.
I retired when I was 49. I have been retired more than half the time I worked already.
There is more to it than just what I have written, do your homework and good for you for asking questions and preparing yourself on how to retire NOW!
Get your shift together! Nobody but YOU can do this. It will go by quicker than you can ever imagine, meaning you better have been working steadily on a plan when retirement gets to you! Or? Work till you puke!
dos centavo's
DELACROIX
In the Spirit of Honore' Daumier
In laymen's terms: They could "Flip" you at any time (prison slang)..
And it is true we in the Central and Southern are very envious of the Western's pension benefits.
Up In Smoke
Well-Known Member
Up In Smoke
Well-Known Member
Under 639 as long as your vested (5 years) you have 3 options for age:
50 - take a 50% percent hit to your accrued benefit.
55 - 25% hit to your accrued benefit
60 - Full accrued benefit.
For years of service you got:
25 and out at any age- 25% hit to your accrued benefit
30 and out at any age- Full accrued benefit
So the earliest you can retire if you started driving at 21 would be 46 (25 and out at any age). I know a couple of guys who have done that.
Cardboard carrier
Active Member
202-636-8181 is local 639's number. But Jones has it covered...
purehavanne
Well-Known Member
What if someone just quits at 20 years of service to move on to something less physical?? You still get something right?
Short answer is yes, as long you worked at least 5 years you will get something at some point. Longer answer is it depends on your age since you haven't worked long enough to qualify for a 25 and out, so you would have to wait til at least age 50 to begin drawing your pension.
Jumpin Jack Flash
Troll
Once again people love to rage about UPS pensions. Pensions are great if you live long enough to use it! Many dont!
Shiftless
Well-Known Member
Over 15 years of draining the pension for me!
I would like to Thank all the Hard Working UPS/Teamsters who keep this monthly pension coming my way!
Keep up the good work! Every time I see a pension provider ( to the company you are service provider, to us retiree's you are a pension provider ) I hope that person gets to do as I have done, RETIRE!
Shiftless
Well-Known Member
Kinda Sorta? If you up and quit?
It is important you take a withdrawal card down at your local first thing!
Generally speaking, every Teamster region has negotiated somewhat similar and or very different requirements to retire from UPS.
Don't trust anyone on here to really know the answer specifically to you!
This means (again in some cases) that had you gone the extra time to hit that magic number where you could retire? Could and most likely mean more monies and in some cases health insurance availability.
Then again if you are wore out and trashed body says its done, and you are mentally baked? You are going to take a big hit most likely for that 20 years of servitude and see less for doing so when they dictate your age that you can collect.
Dos Centavo's
purehavanne
Well-Known Member
Wow I gotta call up that union hall and be more informed
The funds are all different, it's good to keep track of your options especially if you're feeling burnt out and thinking about cashing in.
rod
Retired 22 years
I've used the hell out of mine--- $687,000 so far---and counting.
Similar threads
