Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Will I get a pension for working part time?
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="Pizza" data-source="post: 4622995" data-attributes="member: 70704"><p>UPS Plan (covers most PT)</p><p></p><p><strong>If You Leave UPS Before Early,</strong></p><p><strong>Service or Normal Retirement</strong></p><p>If you terminate employment from all UPS Related</p><p>Companies after you complete at least five years of Vesting</p><p>Credit and you have accumulated Service Credit under the</p><p>Plan, you will be entitled to begin receiving your vested</p><p>Accrued Benefit from the Plan at your Normal Retirement</p><p>Date. This benefit is referred to as a deferred vested</p><p>retirement benefit.</p><p>If you have at least 10 years of Vesting Credit but less than</p><p>25 years of Combined Service Credit, you may begin</p><p>receiving Plan benefits as early as age 50. If you elect to</p><p>have your benefit payments begin before your Normal</p><p>Retirement Date, your Accrued Benefit will be reduced</p><p>6% per year (1/2% per calendar month) for each full and</p><p>partial calendar year (month) before your Normal</p><p>Retirement Date.</p><p>For example, the following table shows the percentage of</p><p>Accrued Benefit that is payable at ages 50, 55, 60 and 62.</p><p>5</p><p>Age When Deferred Percentage of Accrued</p><p>Benefits Begin Early Benefit Payable</p><p>50 10%</p><p>55 40%</p><p>60 70%</p><p>62 82%</p><p>Note: If the present value of your vested benefit is less than</p><p>$1,000 when you leave all UPS Related Companies, you'll</p><p>automatically receive your benefit in a single lump sum</p><p>payment. No further benefit will be paid.</p></blockquote><p></p>
[QUOTE="Pizza, post: 4622995, member: 70704"] UPS Plan (covers most PT) [B]If You Leave UPS Before Early, Service or Normal Retirement[/B] If you terminate employment from all UPS Related Companies after you complete at least five years of Vesting Credit and you have accumulated Service Credit under the Plan, you will be entitled to begin receiving your vested Accrued Benefit from the Plan at your Normal Retirement Date. This benefit is referred to as a deferred vested retirement benefit. If you have at least 10 years of Vesting Credit but less than 25 years of Combined Service Credit, you may begin receiving Plan benefits as early as age 50. If you elect to have your benefit payments begin before your Normal Retirement Date, your Accrued Benefit will be reduced 6% per year (1/2% per calendar month) for each full and partial calendar year (month) before your Normal Retirement Date. For example, the following table shows the percentage of Accrued Benefit that is payable at ages 50, 55, 60 and 62. 5 Age When Deferred Percentage of Accrued Benefits Begin Early Benefit Payable 50 10% 55 40% 60 70% 62 82% Note: If the present value of your vested benefit is less than $1,000 when you leave all UPS Related Companies, you'll automatically receive your benefit in a single lump sum payment. No further benefit will be paid. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
Will I get a pension for working part time?
Top