Excuse me, sir, can you tell me why my retro check hasn't come in yet?
Got pension payment offer.
- Thread starter PaPhilly2018
- Start date
Indecisi0n
Well-Known Member
Janice is working on a retro checks. Payroll is was backed up with all the needed corrects . It will come my friend I promise . As compensation UPS is offering one free vending machine voucher but it can only be used on the bottom gum row . Any purchase of white cheddar popcorn will result in disciplinary actions and lead up into termination.
olroadbeech
Happy Verified UPSer
gipsee brought up a good point.......inflation.
plus if you took a lump sum now you would heavily taxed and penalized.
if you have the discipline and can get by without it now , I would invest/roll it into a good retirement account. I have had very good returns in the Vanguard mutual funds.......mainly Index funds like the S%P 500 and other index funds that decrease the risk factors.
that way your lump sum will grow by the time you retire. the miracle of compound interest is real. the last 40 years the average returns in the stock market has been 8%. with the rule of 72 , you money doubles every 9 years. you will stay way ahead of inflation.
we invested less than $150k total in the 401k during my career and now the total is over 4 times that.
that ain't chump change.
plus if you took a lump sum now you would heavily taxed and penalized.
if you have the discipline and can get by without it now , I would invest/roll it into a good retirement account. I have had very good returns in the Vanguard mutual funds.......mainly Index funds like the S%P 500 and other index funds that decrease the risk factors.
that way your lump sum will grow by the time you retire. the miracle of compound interest is real. the last 40 years the average returns in the stock market has been 8%. with the rule of 72 , you money doubles every 9 years. you will stay way ahead of inflation.
we invested less than $150k total in the 401k during my career and now the total is over 4 times that.
that ain't chump change.
UPSER1987
Well-Known Member
Would you want that vs a lifetime payment?
clean hairy
Well-Known Member
Was it a vowel, or a consonant?
Hey good morning guys I just had a question for you guys if you might know the answer I spent 13 years with UPS one for you earlier as a part-time pre-loader air driver in 12 years it’s a full-time package car driver I have not received a letter in the mail I’ve been out of UPS now for almost 2 years does anybody know roughly how much my monthly pension would be when I turn 57 or 65 and should I be expecting a letter in the mail
Hey guys I just had a question for you I spent 13 years with UPS one year as a pre-loader air driver in 12 years as a full-time package car driver I’ve been out of UPS now for almost 2 years does anybody roughly know how much my monthly pension would be when I turn 57 or 65 whatever and should I maybe be expecting a letter in the mail
Indecisi0n
Well-Known Member
Spam infraction issued .
burrheadd
KING Of GIFS
why’d you get fired?
Shiftless
Well-Known Member
Interesting that people who were drivers, that for what ever reason break service with UPS and the Teamsters, yet still have the notion of getting a pension at an age younger than 65. Anyone know if there any cases where this happens when you remove yourself from any type of peer plan? I have never heard of any.
brownmonster
Man of Great Wisdom
Ours doesn't have a peer plan. Years of service, accrual rate and age are calculated. Percentage drop each year under age 60.
They are making out in the deal no doubt but at least you have your money.
trickpony1
Well-Known Member
Pennies on the dollar?
And what happens if the fund goes belly up?
Pizza
Joe Biden is The Big Guy
When the fund goes belly up.
Very true
UpstateNYUPSer(Ret)
Well-Known Member
The Company pension fund is fully funded.
Pizza
Joe Biden is The Big Guy
I would bet that most of these failing plans were "fully funded" at one time.
UpstateNYUPSer(Ret)
Well-Known Member
Most of them were-----the difference is that most Teamster plans are multi-employer while the company plan is single employer.
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