Round the block again
Well-Known Member
I got 30 years now at age 52, what's the difference if I retire now than at 55? Cuz all this you're fired stuff makes me nervous, don't do this don't do that, take lunch. Miss the old days!
When to retire 30 years or 52 age ?
- Thread starter Round the block again
- Start date
MyTripisCut
Never bought my own handtruck
We can't even do 52 anymore around here. Gotta be 55. Not sure if it's supplemental or national....
oldngray
nowhere special
It depends on your local language. My local was the same and the knowledge you could retire at any time took the pressure off. That being said, UPS increased harassment to try to get rid of the older people knowing they would only stay around for so much BS.
oldngray
nowhere special
My local was 30 at any age, which caused problems with the union because non UPS Teamsters had to be 55. We were covered under UPS insurance but impossible to get clear answers from anybody.
MyTripisCut
Never bought my own handtruck
We lost that last contract. They offered buyouts for anyone that was close but I know a guy that missed the cut off by two weeks and he had to work 4 more years.
I know here that you have to be 52 to get the healthcare but if you retire before age 55 you take a big haircut in your pension.
Trust me, I feel your pain.
MyTripisCut
Never bought my own handtruck
Who doesn't like big haircuts???
oldngray
nowhere special
Pension is calculated a couple of different ways. One way you lose about 6% per year for every year under 65. That pension is potentially greater if you are older.
The other way is years of service which is independent of age. Less maximum but a guaranteed amount. Last time I checked the break point between the two plans was about age 58.
My buddy is 54. If he retires now it will cost him $1000 a month in pension reductions.
Indecisi0n
Well-Known Member
If you have 30 years just transfer out of package into something better and ride it out.
oldngray
nowhere special
It is about $1000/month per year of eligibility until you hit the max. You want to hang around but you also want to get out of there before you are too crippled. I got out at 52 with 34 years. I would have liked to have waited a bit longer but I wasn't sure I could pass the next DOT physical. My other option would have been to jump on a 22.3 job but I just wanted out of there.
Our pension fund is in the crapper. Not sure what my options are good to be
oldngray
nowhere special
You can hope to get grandfathered in. The ones who really got screwed were the ones who retired before 2008.
It's really bad here, under 50%
I'll see what happens next year at contract time, then I'll make a game plan.
Round the block again
Well-Known Member
Thanks, I'll stick around until I'm 55 or if the next year union contract comes out better than what's now.
oldngray
nowhere special
I'm just hoping things hold together until I start social security. I still have retirement accounts I haven't touched and don't plan to until I have to.
Round the block again
Well-Known Member
I've been saving like a Mother.......
Round the block again
Well-Known Member
That's what I'm hoping for
