Is this what forty years gets you in

[IVE GOTTA PACKAGE 4U]

5 years part time gets you vested but won't be much. How much depends on the plan and your age but only a couple of hundred dollars a month or so. Maybe a little more but not much more.

Do you get a part-time pension from UPS?

 

[oldngray]

Do you get a part-time pension from UPS?

Yep. I get 2 separate pension checks. For the part time there were 2 different ways to calculate it. One way is potentially less but not age dependent so could be greater if you retire at an earlier age. They will pay you whichever way is the most.

 

[IVE GOTTA PACKAGE 4U]

Yep. I get 2 separate pension checks. For the part time there were 2 different ways to calculate it. One way is potentially less but not age dependent so could be greater if you retire at an earlier age. They will pay you whichever way is the most.

Mine is based on age 65 in the 6% penalty for every year you take it before that

It probably enough to buy me three or four cases of beer a month maybe

 

[35years]

Is your part-time pension through the union or through the company?

Our part time pension is through the company.

Our hub went through a couple years where they tried to force the old part timers into full time (or out the door) by cutting hours from double shifting to cutting everyone at the minimum hours.

So very few will see a pension check for those years.

 

[upsgrunt]

You have to have 5 years to be vested you’ll get zero

Wanna bet?
It won't be much, but it's MINE, and I earned it after the last 35 years.

 

[BrownFlush]

It probably enough to buy me three or four cases of beer a month maybe

You won’t need that much ( the beer)after you walk away from the circus.

 

[BrownFlush]

Yep. I get 2 separate pension checks. For the part time there were 2 different ways to calculate it. One way is potentially less but not age dependent so could be greater if you retire at an earlier age. They will pay you whichever way is the most.

Has the company offered you or anyone you know, a buy out check?

 

[oldngray]

Has the company offered you or anyone you know, a buy out check?

No. I think they only did that for management.

 

[IVE GOTTA PACKAGE 4U]

You won’t need that much ( the beer)after you walk away from the circus.

You're correct







More like five or six cases

 

[BrownFlush]

No. I think they only did that for management.

I know they are wanting out of the pension business, I was figuring they would offer the little fish something, too.

 

[Jones]

I could swear there was a thread on here about former part timers getting offered a lump sum payout.

 

[IVE GOTTA PACKAGE 4U]

I could swear there was a thread on here about former part timers getting offered a lump sum payout.

Those are for people who left the company and not collecting a regular retirement plan I just want to get them off the books

 

[quad decade guy]

Exhibit 1,098,987 that your reading comprehension is terrible. Or maybe as@Re-Raise pointed out you have no idea how conversation works.

I’ll break it down to you.

I said that I thought their pension topped out. Implying after so many years/age you could continue working but not gain anything on your pension payout

Ok? Following?

@Re-Raise responded with the above statement.

This seems to be where you lost track so pay close attention. 30 years is considered common retirement length maybe now more people sticking around up to 35 but not longer very often. It would be expected that if a pension topped out it would be at that 30-35 year mark. Because of this it would be surprising to find someone still working beyond pension top out since they wouldn’t be adding anything to their pension.

Ok? No? If not I don’t think I can help anymore.

Well....

No.

"Common retirement length"......not sure what that means.

"Common retirement AGE" is considered from 62 to maybe 70. Talking common here.

Now, based on your words or sense of reality.....simply not so. The reason "most" people wouldn't stick around is because they are of retirement....AGE! Most people would never make say 40 years because they wouldn't live that long or be quite elderly. Example I have because I started at age 18. 40+18=58....my age. I can't get Medicare till 65. I might be at UPS till then. We'll see.

Just because you "Top Out" doesn't mean you automatically quit. Why would I quit a great paying job if I'm going to keep working?
Every financial planner I've talked to says I'm way too young to retire......and no, I'm not a multi-millionaire. And no, I didn't work 100hr weeks to become one like some have admitted here. Some not.

Trading $100k for maybe $48k doesn't seem to make sense to me.....but hey..not to mention having to buy insurance....

You use the term "common". Ok. Most "common folks" won't be able to retire at 48 with 30 years in. Ask a lot of retirees how their lifestyle went down after retiring....if they are honest...I'd bet a lot.

Now, if none of that makes logical sense....I can't imagine saying "Ok I've got 30 years in and fully vested with no possible gains....so I'm going to quit this great paying job and go make less or maybe the same by working still..."

Belittling folks for working 50 years(give or take) is intellectually dishonest. When, in fact, they did the very same thing....just not at one place.

No? I think so. I know so.

 

[Brownslave688]

Well....

No.

"Common retirement length"......not sure what that means.

Well we’ve established reading comprehension is not something you excel at. So I’m not surprised.


Once again you fail to grasp what the conversation was about. Package car drivers and their pensions.

In 20 years here at 3 different centers I’ve seen maybe a handful of guys stick around past 35 years driving.

 

[BrownFlush]

Well....

No.

"Common retirement length"......not sure what that means.

"Common retirement AGE" is considered from 62 to maybe 70. Talking common here.

Now, based on your words or sense of reality.....simply not so. The reason "most" people wouldn't stick around is because they are of retirement....AGE! Most people would never make say 40 years because they wouldn't live that long or be quite elderly. Example I have because I started at age 18. 40+18=58....my age. I can't get Medicare till 65. I might be at UPS till then. We'll see.

Just because you "Top Out" doesn't mean you automatically quit. Why would I quit a great paying job if I'm going to keep working?
Every financial planner I've talked to says I'm way too young to retire......and no, I'm not a multi-millionaire. And no, I didn't work 100hr weeks to become one like some have admitted here. Some not.

Trading $100k for maybe $48k doesn't seem to make sense to me.....but hey..not to mention having to buy insurance....

You use the term "common". Ok. Most "common folks" won't be able to retire at 48 with 30 years in. Ask a lot of retirees how their lifestyle went down after retiring....if they are honest...I'd bet a lot.

Now, if none of that makes logical sense....I can't imagine saying "Ok I've got 30 years in and fully vested with no possible gains....so I'm going to quit this great paying job and go make less or maybe the same by working still..."

Belittling folks for working 50 years(give or take) is intellectually dishonest. When, in fact, they did the very same thing....just not at one place.

No? I think so. I know so.

Talking common here.
" Your money perishes with you." - Acts 8:20
Work until you're dead, fool.

 

[728ups]

I retired this year about two weeks after I turned 55 and have ZERO regrets. For 35 years I traded my time for money and the last 8 or 9 were absolutely horrible ( I have been told working conditions have gotten even worse this year) . I decided to trade money for my time and life couldn't be any sweeter: I volunteer with a couple of local Cat and Dog rescues three days a week and play in a rock band in various bars on the weekends. I take my father to lunch once week, and spend alot of quality time with my wife during the week . I get to go to my grandchildren's games and recitals any time they have one and if my kids need help with them I have the time for it.

Life is fantastic! I planned for many many years to retire early and have no debt,excellent investments and am enjoying the fruits of my labor. it's NICE not have stress,not have to deal with idiot supes and not have to be and A-hole everyday. I can't imagine why anyone would want to stay one day longer than necessary ! Money be damned, there is FAR more to life than slaving to the Dollar

 

[quad decade guy]

Well we’ve established reading comprehension is not something you excel at. So I’m not surprised.


Once again you fail to grasp what the conversation was about. Package car drivers and their pensions.

In 20 years here at 3 different centers I’ve seen maybe a handful of guys stick around past 35 years driving.

Drivers are drivers...pkg or feeders....so relevant.
I won't drive much past 35 years either...so got a point?

Where was this "establishing" anything?
Who is we?

 

[Darmark7]

Trading $100k for maybe $48k doesn't seem to make sense to me.

I look at it this way. To keep working you are missing out on the best last years of quality life you might have. Time will fly by and where do you want to spend your last years? Working or doing what you want. If you keep working you will be basically working for $52k a yr ($100k -$48k= $52k) That’s how I looked at and got out at 57 yrs old.

 

[BrownFlush]

I look at it this way. To keep working you are missing out on the best last years of quality life you might have. Time will fly by and where do you want to spend your last years? Working or doing what you want. If you keep working you will be basically working for $52k a yr ($100k -$48k= $52k) That’s how I looked at and got out at 57 yrs old.

Yep..When I turned 52, I would be working for half the money everyone else was.

 

[Jones]

Ask a lot of retirees how their lifestyle went down after retiring....if they are honest...I'd bet a lot.

Whenever I catch up with my fellow retirees and we talk about what everyone has been up to its always golf, fishing, hunting, camping trips, the latest cruise, etc. I've never heard anyone say how they miss the lifestyle they had when they were working and making 100k. If it was that great none of us would have ever retired.