Ask A Retired Person, Retirement FAQ. ( ON TOPIC )

[old levi's]

You are correct. Our pension went down a couple hundred because i just turned 62. I signed a paper they told me That i opted for this . To take extra on the front end till 62.

I also opted for the spousal option which I get 300 a month less so my spouse could get 60% of my pension if I died first. If he dies first then it gets "bumped" back up 300.

I know I could have taken that 300 a month and bought a life insurance policy but we were not comfortable with him getting a lump sum if i should die first. the 60% pension and social security plus other retirement accounts and cash savings will be more than adequate.

Does your spouse have a pension?

 

[Brownslave688]

You are correct. Our pension went down a couple hundred because i just turned 62. I signed a paper they told me That i opted for this . To take extra on the front end till 62.

I also opted for the spousal option which I get 300 a month less so my spouse could get 60% of my pension if I died first. If he dies first then it gets "bumped" back up 300.

I know I could have taken that 300 a month and bought a life insurance policy but we were not comfortable with him getting a lump sum if i should die first. the 60% pension and social security plus other retirement accounts and cash savings will be more than adequate.

You were scared he'd have you whacked?

 

[Brownslave688]

Afraid the Ol’man gonna squander it on hookers and blow

How do you think they met?

 

[Round the block again]

I plan on retiring at 54 with 32 years, wanted to stay till 55, but the Orion way is too frustrating now -

 

[olroadbeech]

I plan on retiring at 54 with 32 years, wanted to stay till 55, but the Orion way is too frustrating now -

You'll be able to collect a nice pension and if you want to work you can find something you really like. I have been offered so many jobs when people found out. UPSers have a great rep and work ethic and employers know this.

You'll be able to pick and choose if so inclined to work. I just did my hobby and monetized it. We can work when we want. A few hours a day or none at all. Don't need the money but it is pleasurable so why not?

It's all gravy.

 

[burrheadd]

 

[trickpony1]

you can leave your hat on youtube - Bing

 

[twoweeled]

Looking for the correct thread to post this. What are any of you doing about Verizon asking for employment verification to retain 22% discount? I just signed another contract with them, otherwise I'd dump them.

 

[Indecisi0n]

Looking for the correct thread to post this. What are any of you doing about Verizon asking for employment verification to retain 22% discount? I just signed another contract with them, otherwise I'd dump them.

Did you get a email? There should be a link included in there to follow and verify employment. If not you have to call their 800 number.

 

[twoweeled]

Did you get a email? There should be a link included in there to follow and verify employment. If not you have to call their 800 number.

Oh yeah, the link is there. I guess I wasn't clear. I'm not employed there anymore.

 

[Indecisi0n]

Oh yeah, the link is there. I guess I wasn't clear. I'm not employed there anymore.

In that case I'll have to canceled your membership here. Sorry but ruies are rules.

 

[twoweeled]

In that case I'll have to canceled your membership here. Sorry but ruies are rules.

This is what I think of rules!!

 

[Indecisi0n]

This is what I think of rules!!

Talk about stink finger...

 

[twoweeled]

Talk about stink finger...

LMAO!! no kidding. Grosses me out to look at my own post!!

 

[Been In Brown Too Long]

As a Teamster (Western Region) I knew when I signed the retirement paperwork that at SS eligibility age of 62 not 65, whether I was drawing down on SS or not, that my pension would drop. I was told it would be about 12% for my circumstances. I retired and I was 49 years old. I took the money for 12 plus year on the front end. I was OK with that with my financial circumstances then and still today.

If you are going to retire you should check into this if you are pre 62 years of age. Maybe that is not even offered anymore or maybe mandatory now who knows!

Been gone 13 plus years! Yee Ha M-Fer's ! Join the ranks of the retired and REALLY ENJOY LIFE!

I just did the same thing. Retired at 49 with 31 years. Opted for the extra $$ on the front end. Yes, it's still an option. I labored over the decision for quite a while before and after signing the paperwork. You have 90 days to change your payout option. I'm now past the 90 days, so I'm locked in. I figured I'd take as much as I could get now while I'm not eligible to collect SS or withdraw from my 401k or IRA. It's been working perfectly. No cash issues at all with just the pension. I figure at 59 1/2 bonus cash if I need it from the 401k and IRA, and at 62/65 the extra icing of SS.

I happen to be lucky enough to be in a local in NorCal where we've paid toward retiree medical with a .91/hr withholding that went towards having $0 payments towards medical, dental, and vision for myself and my spouse.

Like others have mentioned, being an ex-UPSer, I've been offered many jobs already, but dammit, I'm having just too good a time not working. Having worked at the insane asylum for 31 years really makes not going there every day just that much more satisfying! I'm in no hurry to jump into another work situation. I guess if I get bored, maybe...

 

[olroadbeech]

I just did the same thing. Retired at 49 with 31 years. Opted for the extra $$ on the front end. Yes, it's still an option. I labored over the decision for quite a while before and after signing the paperwork. You have 90 days to change your payout option. I'm now past the 90 days, so I'm locked in. I figured I'd take as much as I could get now while I'm not eligible to collect SS or withdraw from my 401k or IRA. It's been working perfectly. No cash issues at all with just the pension. I figure at 59 1/2 bonus cash if I need it from the 401k and IRA, and at 62/65 the extra icing of SS.

I happen to be lucky enough to be in a local in NorCal where we've paid toward retiree medical with a .91/hr withholding that went towards having $0 payments towards medical, dental, and vision for myself and my spouse.

Like others have mentioned, being an ex-UPSer, I've been offered many jobs already, but dammit, I'm having just too good a time not working. Having worked at the insane asylum for 31 years really makes not going there every day just that much more satisfying! I'm in no hurry to jump into another work situation. I guess if I get bored, maybe...

you won't feel any pain when your pension drops at 62 if you planned right. Ours dropped about $200 but then social security kicked in and we get another $2700 a month or so , so yee-hah!!!

I tell former feeder drivers to retire ASAP all the time. some could have 3-5-7 or more years ago and are afraid to.

I love being retired. Saturday is everyday and do whatever the heck you want. what's there not to like?????

 

[Observer]

You'll find based on what people tell me - you will be busier when you retire and wonder how you managed getting stuff done previously. Who wants to put up with bs at the job anymore than they have to. Ha ve an uncle who retired at 62 - he was gone 6 months later. We all knew what killed him - all of the crap he had to put up with those last 10 years there.

 

[olroadbeech]

Absolute true about being very busy after retirement. It's like the water has been turned all the way on because of the endless opportunities. A kid in a candy store, so to speak.

Also , when I was working , we would get news of former feeder drivers who passed away within a year of retirement. It seemed like an epidemic and in almost every case it was from someone who stayed on toooooooo long.

Life is too short. My goal is to collect pension checks longer than my years at UPS. have only been collecting for 3 years so far but only have a little over 19 years to go to surpass my 22 years and 9 months at Brown.

BTW, I very rarely think of the BS I had to go thru. ( another benny of being retired ) the stress is GONE.

You all my think you are POW's but the difference is ..........the gates are open.

 

[Shiftless]

You'll find based on what people tell me - you will be busier when you retire and wonder how you managed getting stuff done previously. Who wants to put up with bs at the job anymore than they have to. Ha ve an uncle who retired at 62 - he was gone 6 months later. We all knew what killed him - all of the crap he had to put up with those last 10 years there.

Sorry about your Uncle.

Its all about life's choices! I too watched many pass shortly after retirement at ages you would have thought they would have made it farther?? More so when I first started, guys we would say " I am sittin on the couch and drinking beer and watching football" YUP dead within a year! No guarantee's in the grand scheme of things you either plan on life or get run over by it. Sure things happen out of our control health wise and accidents happen. Best plan is to have a plan!

 

[Shiftless]

I just did the same thing. Retired at 49 with 31 years. Opted for the extra $$ on the front end. Yes, it's still an option. I labored over the decision for quite a while before and after signing the paperwork. You have 90 days to change your payout option. I'm now past the 90 days, so I'm locked in. I figured I'd take as much as I could get now while I'm not eligible to collect SS or withdraw from my 401k or IRA. It's been working perfectly. No cash issues at all with just the pension. I figure at 59 1/2 bonus cash if I need it from the 401k and IRA, and at 62/65 the extra icing of SS.

I happen to be lucky enough to be in a local in NorCal where we've paid toward retiree medical with a .91/hr withholding that went towards having $0 payments towards medical, dental, and vision for myself and my spouse.

Like others have mentioned, being an ex-UPSer, I've been offered many jobs already, but dammit, I'm having just too good a time not working. Having worked at the insane asylum for 31 years really makes not going there every day just that much more satisfying! I'm in no hurry to jump into another work situation. I guess if I get bored, maybe...

You probably thought the best thing ever was when you locked in your retirement where it was set in stone right? Only to find out the best thing ever is actually retirement itself!

Question is??? What are you doing too stay busy?