rod
Retired 22 years
I was that way for awhile but now realize we will be ok without it. Its a
ty deal all around.
when to retire?
- Thread starter group
- Start date
I was that way for awhile but now realize we will be ok without it. Its a
ty deal all around.
Ms.PacMan
Well-Known Member
I was that way for awhile but now realize we will be ok without it. Its a
One of our pre 2008 retirees had a good way of looking at it. He said he would have gotten 50% for the 20 years he might still live or 100% for the 10yrs CS has left to survive. Same difference he thought.
UPS will want to do something - throwing more good money into a failing fund isn't in their long term plan I'm sure.
Right now they are paying $502 a week into our plan and we are only seeing pennies on the dollar. Plus part of my raise goes into the pension. I would rather have that in my 401k
rod
Retired 22 years
That's the way I feel about it. Who knows how many of us old farts are still going to be alive in a few years to enjoy whats left of Central States. The small center I worked at has only had probably 20 guys retire from it in its entire history. UPS didn't start here until the mid 60's. Out of that 20 there are 4 who have died already and the rest of us Pre-2008 guys aren't getting any younger.
I'll ask again. Do you have any verifiable link to a Public Law/code that requires UPS to provide anything to any pensioner in any plan after the full payment of withdrawal liability is satisfied? Not opinions or interpretations, just the law.
And you know uncredited excerpts from a Congressional hearings are not even close to law.
Ms.PacMan
Well-Known Member
Took me awhile to find the law....thanks for the nudge. This part of the ERISA law is for plans in critical status and the remedies within a recovery plan.
29 U.S. Code § 1085 - Additional funding rules for multiemployer plans in endangered status or critical status
please note the word AND. It does need to be in the CBA (contrary to what I thought) but it cannot be removed by either UPS or the Teamsters until the original fund that's in critical status (CS), exits the recovery plan and is healthy enough to pay the benefits from the employees service credit in that fund.
Ms.PacMan
Well-Known Member
ERISA in the United States Code: Cross-reference table, table of contents
Link to a webpage with ERISA links.
Link to a webpage with ERISA links.
35years
Gravy route
So...
If it is 2019 and is no longer in the CBA, would this wording apply?
That is the heart of the matter, is it not?
clean hairy
Well-Known Member
Would p/t in the Southern who are already retired, or retiring in the next few years be affected by any potential pension cuts?
badpal
Well-Known Member
Had a part timer retire here awhile back, he claimed his pension check was being paid by an annuity company.
PT Car Washer
Banned
Was he an old PT sup? Former PT sup from 40 years ago and then went driving told me his PT years would be paid as an annuity.
badpal
Well-Known Member
No , just an hourly . I need to look him up and ask him what name is on his pension deposit.
I am 51 and I will be at UPS 30 years this year, I spent 19 years part time and 11 fulltime when I went 22:3. Realistically my goal is to work 10 more years and retire at 60. However My question is If I am just wondering if I am forced to retire early due to heath conditions (Physical or Internal) Will I be able to, I am pretty sure I would be able to at age 55 if I had to but what about 50-55 and How would it work with my 19 years partime and current 11 years fulltime,
burrheadd
KING Of GIFS
I know this sounds crazy
But instead of asking a bunch of strangers on the interwebz
Maybe you should call your local union hall
Just a thought
Coldworld
60 months and counting
He enjoys that sexy Onroad he has......
Coldworld
60 months and counting
Just just give plasma and sperm a couple times a month... Make a few thousand extra bucks...they say that uber is the ultimate side hustle, well actually plasma/sperm donation is the ultimate in side hustle.
rod
Retired 22 years
Those options aren't available. Nobody pays for blood around here unless you drive 100+ miles one way to Minneapolis and as far as sperm goes you end up paying to donate it. Its called last call and some skank at the local saloon.
wkmac
Well-Known Member
In one sense that is why I did not retire at 55 with 30 years but there were also other considerations also beyond the monthly pension payment amount. Also I wasn't ready to stop working either. Each person will have unique circumstances and there is no 1 size fits all. What I do likely won't work for you and what you do won't work for me. We don't even work the same kind of job so even that presents difference circumstances.
In talking with retirees both inside and outside UPS, one common thought often expressed by many is to not retire until you reach the day where you absolutely can't walk through the door one more time. Then you are ready but also you are ready to go out on your terms and not anyone else.
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