Can anyone explain the retirement 20+ 30 thing or whatever it is to me?

[margaritaville]

Lets say your an air driver/hub employee and dont switch to fulltime til your 40. But been with the company since you were 20. In terms of retirement can u still retire at the same time as a fulltime driver who started driving in his 20s. Im just trying to understand this 20 + 30 retirement policy or whatever it is.

Random rambling: So i been working at UPS since 21 as an air driver. I live comfortably because i get called once a week atleast for top rate ground. Last year it was almost every day the second half the year. That may slow even more with all this new hiring. Basically i really enjoy my job as an on call driver. The hubs lame but driving is fun.

However, i can go fulltime now. But im being a pusillanimous because i dont want to lose all my senority and have no social life. Since all the fulltime drivers seem to hate their job when i love going out driving when im called. Since im an air driver, they are appreciative of me for even coming in and helping. If i go fulltime i will just be another slave. When im living comfortably now but making less per year than a fulltime driver.

And my pay is extremely inconsistant. I can make from 250 to 1600 dollars (after taxes) a week depending if they call me every day or not at all. But other than that i like air driving + ground help more since i can sleep in or not work or take vacation whenever i want.

 

[JL 0513]

Thanks for asking this. I've been curious as well. I've been with UPS since 29 and went driving last year at 34. When I hear 30 years to retire with full pension I know there's gotta be other ways for many of us who got a late start. I'm pretty sure I don't need to do this until 64 to get full retirement.

 

[UpstateNYUPSer(Ret)]

Thanks for asking this. I've been curious as well. I've been with UPS since 29 and went driving last year at 34. When I hear 30 years to retire with full pension I know there's gotta be other ways for many of us who got a late start. I'm pretty sure I don't need to do this until 64 to get full retirement.

Unfortunately, that is the sad reality. If you want the most pension $$ you will need to either drive a pkg car or feeder for 30 years (or more).


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[cosmo1]

Unfortunately, that is the sad reality. If you want the most pension $$ you will need to either drive a pkg car or feeder for 30 years (or more).


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It's not often I agree with Dave, but when I do........

 

[Anonymous 11]

You could go for a 25 and out pension instead of thirty.

 

[UpstateNYUPSer(Ret)]

You could go for a 25 and out pension instead of thirty.

How many locals still offer the 25 and out option?


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[oldngray]

How many locals still offer the 25 and out option?


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Very few. Mine did but I think it went away with this contract.

 

[UpstateNYUPSer(Ret)]

Very few. Mine did but I think it went away with this contract.

We never had 25 and out. We had 30 and out at any age---this was recently changed to 30 years of service AND 55 years of age. We will have drivers working 37 years to receive a 30 yr pension.


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[bleedinbrown58]

Very few. Mine did but I think it went away with this contract.

I believe 804 still has 25 & 30 and out...

 

[joeboodog]

We got 30 and out, 30 and 55 to get insurance, and 59 1/2 to collect the 401k. Clear as mud.

 

[TooTechie]

My local allows you to retire any time after either 55 or 57 (can't remember which at the moment on the road)and you're paid out approx $268 per month for every year of full time service

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[saintrick]

In the part time company pension and the UPS/IBT full time plan you combine service credit.

For example:
If you have 10 part time years and 20 full time years you have 30 years of combined service credit. Your 30 and out would be.

10/30 or 1/3 of the 30 and out part time.
and
20/30 or 2/3 of the 30 and out full time.

 

[UpstateNYUPSer(Ret)]

My local allows you to retire any time after either 55 or 57 (can't remember which at the moment on the road)and you're paid out approx $268 per month for every year of full time service

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I call BS on your figures.


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[Fedex Guy]

I think local 355 has 25 and out. Can anyone confirm this?

 

[Anonymous 11]

We never had 25 and out. We had 30 and out at any age---this was recently changed to 30 years of service AND 55 years of age. We will have drivers working 37 years to receive a 30 yr pension.


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It's different by region. The central region has a 25 and out.

 

[cosmo1]

I call BS on your figures.


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That is some serious bucks!

 

[JL 0513]

Unfortunately, that is the sad reality. If you want the most pension $$ you will need to either drive a pkg car or feeder for 30 years (or more).


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So say you are forced to retire at 28 years, for example, is your pension significantly lower because you're missing 2 years? Or is it prorated evenly?

Anyone have some example figures?

 

[ManInBrown]

Im confused by posters saying you have to put in X number of years for pension. I just looked at the pension chart for my Local and you can retire anytime you want. Figure goes up for every year longer. There is a figure for 20 and out over 55

 

[PT Car Washer]

So say you are forced to retire at 28 years, for example, is your pension significantly lower because you're missing 2 years? Or is it prorated evenly?

Anyone have some example figures?

Unless you are normal retirement age, 65, you have to make the milestone marks, 25, 30, 35 or you receive the lower amount. I think.

 

[jumpman23]

Thanks for asking this. I've been curious as well. I've been with UPS since 29 and went driving last year at 34. When I hear 30 years to retire with full pension I know there's gotta be other ways for many of us who got a late start. I'm pretty sure I don't need to do this until 64 to get full retirement.

Youll never do 30 years on this job nowadays anyways and UPS knows this. Youd be lucky to do 20 nowadays with how hard they have made it. Id go to 55 and get 20 fulltime in JL and call it a day and ride into the sunset before your crippled.