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Brown Cafe UPS Forum
UPS Retirement Topics
How big is your 401k?
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<blockquote data-quote="Out Of Brown" data-source="post: 1601704" data-attributes="member: 57934"><p>Well, I'm in corporate and the policy here is that you need 10 years of service in order to qualify for early pension (age 55). I agree with others that I would want to wait since the increase in payments for every year of delay is quite good in percentage terms. In my case, the increase is 15% if I delay until 56 and goes down about a percentage point for each delayed year. If I have invested savings earning average market returns I am better off living off those funds and letting the pension ride at some good guaranteed rates like 15%. In other news, the retirement calculator has been updated on the Total Rewards site. The math is the same, but it looks better and you are able to run multiple scenarios simultaneously.</p></blockquote><p></p>
[QUOTE="Out Of Brown, post: 1601704, member: 57934"] Well, I'm in corporate and the policy here is that you need 10 years of service in order to qualify for early pension (age 55). I agree with others that I would want to wait since the increase in payments for every year of delay is quite good in percentage terms. In my case, the increase is 15% if I delay until 56 and goes down about a percentage point for each delayed year. If I have invested savings earning average market returns I am better off living off those funds and letting the pension ride at some good guaranteed rates like 15%. In other news, the retirement calculator has been updated on the Total Rewards site. The math is the same, but it looks better and you are able to run multiple scenarios simultaneously. [/QUOTE]
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How big is your 401k?
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