Why should one retire from UPS?

[dannyboy]

Bubble

Under our contract she will get at least 5 years of full benifits after he dies. Of course that is depending on a few other things in the paper work, but all he is doing is increasing what she gets once she does get it.

In other words, at 45 years service, his pension is 4500. Most likely she will get half of that the rest of her life after he quits or dies. So 2250. But if he does die, then she gets the full 4500 for at least 5 years, and then 2250 there after.

So as was said, he is kicking his behind in this fight.

Sometimes people cut their noses off to spite the face. And gain nothing.

One last thing. She can sell her anuity and cash it out right now. She will have to give up a certain amount, but there are people that will lend against the retirement now.

d

 

[Bubblehead]

Bubble

Under our contract she will get at least 5 years of full benifits after he dies. Of course that is depending on a few other things in the paper work, but all he is doing is increasing what she gets once she does get it.

In other words, at 45 years service, his pension is 4500. Most likely she will get half of that the rest of her life after he quits or dies. So 2250. But if he does die, then she gets the full 4500 for at least 5 years, and then 2250 there after.

So as was said, he is kicking his behind in this fight.

Sometimes people cut their noses off to spite the face. And gain nothing.

One last thing. She can sell her anuity and cash it out right now. She will have to give up a certain amount, but there are people that will lend against the retirement now.

d

Sad isn't it. To make matters worse we top out pensionwise after 35 years. I figure he has been working for the last 1O years for about $5 an hour. For what, spite?

 

[Cezanne]

Reduced the monthly payout and implemented a 3% per year penalty up to age 60 (35 years of service) if you take early retirement...up to age 65 if less than 35 years.

Hoaxster, from my limited understanding about the UPS Retirement Plan hasn't that 3 percent penalty before age 65 always been in place? Most management leave at age 55 because that is the age when you become medical eligible. I could be wrong about this but I am guessing they can take the 30 percent hit because of the required stock sell back requirement when you retirement under the management plan. Is that still in effect?

 

[paidover95]

RETIRE!!Who working here,besides a handful of people, have any passion for what they are doing????Retire and go find something you have some PASSION for.I personally will not work here a day longer than I have to.

 

[dannyboy]

I find it interesting that when I typed the above post, there was nothing done to highlight the word anuity, but yet now it is hyper linked to a pop up?

Dont tell me we are being taken over by the pop up squad.

d

 

[moreluck]

maybe it was highlighted for the spelling

 

[dannyboy]

OH Geezz, now the spelling nazi's are grading our posts?

d

 

[rod]

Bubble

Under our contract she will get at least 5 years of full benifits after he dies. Of course that is depending on a few other things in the paper work, but all he is doing is increasing what she gets once she does get it.

In other words, at 45 years service, his pension is 4500. Most likely she will get half of that the rest of her life after he quits or dies. So 2250. But if he does die, then she gets the full 4500 for at least 5 years, and then 2250 there after.

So as was said, he is kicking his behind in this fight.

Sometimes people cut their noses off to spite the face. And gain nothing.

One last thing. She can sell her anuity and cash it out right now. She will have to give up a certain amount, but there are people that will lend against the retirement now.

d

There are only 2 possible outcomes for this senario:

1. She will get rich

2. A couple of lawyers will get rich

(He is already out of this senario.)

Anyone who works 45 years for UPS isn't too smart anyway so he is toast (burnt toast at that)

 

[Bubblehead]

I find it interesting that when I typed the above post, there was nothing done to highlight the word anuity, but yet now it is hyper linked to a pop up?

Dont tell me we are being taken over by the pop up squad.

d

OH Geezz, now the spelling nazi's are grading our posts?

d

I don't see it Dannyboy.
What am I missing?

 

[moreluck]

anuity

 

[dannyboy]

And it is in other threads. With words like jobs, compensation, etc.

It brings up a ballon for Info.com

d

 

[brownrod]

RETIRE!!Who working here,besides a handful of people, have any passion for what they are doing????Retire and go find something you have some PASSION for.I personally will not work here a day longer than I have to.

That is what I am talking about. I'm out ASAP and doing those things that I love to do.

 

[UPS Lifer]

Hoaxster, from my limited understanding about the UPS Retirement Plan hasn't that 3 percent penalty before age 65 always been in place? Most management leave at age 55 because that is the age when you become medical eligible. I could be wrong about this but I am guessing they can take the 30 percent hit because of the required stock sell back requirement when you retirement under the management plan. Is that still in effect?

When I retired almost 3 years ago, there were about 6 different scenarios that corporate HR sent out. In my case, I was to get the scenario that gives you the most amount of money. I was grandfathered on all of the scenarios. I had 35.5 years and waiting till 65 didn't give me any more money. Also, your pension is figured by your salary for your 5 highest years of pay in the last 10 years. So conceivably, you could get a little more if you wait till 65 just based on your 5 highest years of salary (which normally would be your last 5 years of employment).

But as said before.... Is it worth it? If you were 65 and you could pay to be 55 again. How much would you pay to get 10 years of your age back? In essence retiring at 55 is the same as getting back 10 years of your youth ... so again how much are you wiling to pay for 10 younger years of not working?

 

[Bubblehead]

And it is in other threads. With words like jobs, compensation, etc.

It brings up a ballon for Info.com

d

Could it be a virus on your computer?
It's not visible on mine.

 

[dannyboy]

Nothing would suprise me.

Personal to Hoax.

You know you want to go. So go, shut the heck up, and quit causing the confusion........


d

 

[hdkappler]

what about the guy in detroit 87yrs.when he retired.63years with brown.get a life.i got tired of the bull****.after 30years.get the hell out enjoy life.

 

[beentheredonethat]

Another thought, based on several comments made, why retire from UPS and then go work at another place or for yourself.
Most of us, if not all, will make more at UPS than we can working elsewhere and your monthly pension payment increases with every year you stay .
In my case, it increases 7 - 8% every year between age 55 and 60. Only increases 3% after that.

If I retire, I will probably go work someplace else so "Why should I retire from UPS?"

When I was younger, I thought that once I hit 55 I'd be out of here, no questions asked. I think now, just knowing that the pressure is gone when you are 55 would be a big benefit. By that I mean, you really can't get fired, worst case is you retire which you may have done anyways. My dad had a similar decision when he was close to retirement. He looked at what he'd take in on a pension, vs what he would make working. For him, the difference was about $4/hr (granted that was 1981). He figured he didn't need the money (he didn't), and even if he did, we could get a job making that money easy, or just work PT and "make" the same money. Thinking back on it now, because he retired early, he and I had a lot more father\son time, (I was in High school). We played a lot of golf (almost every day) back those few years. I really appreciated it now.

For me, when I hit 55, I'll be 2 years from having my house payed off, my son will be a Jr in college. I hope I'll save enough to be able to retire by then. I'm hoping, worst case to be gone at 57 years old. I'll have no house payment, my son will be out of college and paid for. All my bills should be minimized by then. Now it's time to enjoy life. But I'll find out in another 12 years what my decision will be. I'm sure by then, the pension plan will be "enhanced".

 

[brownmonster]

Peak season and wind chill warnings. Why would anyone want to retire

 

[trplnkl]

And it is in other threads. With words like jobs, compensation, etc.

It brings up a ballon for Info.com

d

It may be a setting in your browser. I use Firefox and I think that is one of the options. I guess there is a list of key words that show up as hyperlinks. Many of the news web pages do this also.