Catatonic
Nine Lives
Hoax,
I haven't really fully researched the retirement plans since I have at least 16 more years to go, but I pulled the SPD out of my file and it says there is no reduction in benefits at 55 with more than 25 years under the grandfathered Alternative Formula, just for the Integrated Formula. Maybe I should start taking a closer look but I've seen some interesting things regarding the pension. The retirement calculator on UPSers.com showed a different pension amount for me when they last made changes to the pension even though I am, ostensibly, grandfathered. I also wonder why they do not have a PDF of the SPD on UPSers.com when they have the SPDs for every other program there.
Anyway, I'm sure you've been thorough but just keep in mind sometimes H.R. does, once in a blue moon, make a mistake.
Also, if you know something different about the viability of the grandfathered pension programs please share.
Thanks!
Since I am older, I'm under a different retirement plan than you.
There is definitely a 3% penalty per year if you retire at age 55 with 35 years of service. Full retirement with no penalty is at age 60.
Also, make sure you go to the 2nd page of the retirement calculator ... might be a few surprises hidden back there.