Death before Retirement ??

[Billy Ray]

If you die b4 you retire, then you got nothing to worry about.

I hope heaven isn't a busy place; I just want to find a bench in the shade and nap. (for freakin' eternity)

 

[Wally]

What happens to your pension if you pass before you retire and have 25,30 etc years in ? Teamcare pays your life ins. , what about pension from ups ,is it lost money ??

In our local, your beneficiary gets a 10 year payout. So, that would be $4100 a month minus $150/month for insurance

 

[Wally]

Had you considered taking your full pension and then using part of that to pay for a life insurance policy for your spouse?

Google "Pension maximization".

 

[clean hairy]

I tried to find it but no success.
There was thread somewhere on here about a Driver who used their vacation prior to their retirement date.
While on vacation as an active non retired employee, this driver passed away.
The discussion was if the spouse or estate was entitled to his Pension.
Hopefully someone else can find the thread.
I am guessing a couple of years ago, maybe? but not for certain....

 

[olroadbeech]

In our local, your beneficiary gets a 10 year payout. So, that would be $4100 a month minus $150/month for insurance

isn't that payout minus what you have already collected on your pension? i think that is what they do with the western conference if i understand it correctly.

 

[Wally]

isn't that payout minus what you have already collected on your pension? i think that is what they do with the western conference if i understand it correctly.

Yea, but the question was dying before retirement.

 

[upsmaster]

What happens to your pension if you pass before you retire and have 25,30 etc years in ? Teamcare pays your life ins. , what about pension from ups ,is it lost money ??

You will lose all but 1 years pay and the rest of the money stays with the pension plan ( TEAMSTERS ). You have to get to your golden 80 then it is safe. All teamsters should have a life insurance until you make it to that point in your time with UPS.

 

[brownmonster]

You will lose all but 1 years pay and the rest of the money stays with the pension plan ( TEAMSTERS ). You have to get to your golden 80 then it is safe. All teamsters should have a life insurance until you make it to that point in your time with UPS.

Which speaks of your plan only. We don't have peer 80.

 

[UPSGUY12]

In the Atlantic States, your wife gets you pension, as long as you have your 5 years needed to be vested, at age 62.