looking for info for retirement since getting different answers

[Carlos2262]

No.

Okay you can retire after 25 years of service you just can‘t draw until you’re 55 years old. You can also retire after 20 years of service but can’t draw until you’re 65.

 

[rod]

Okay you can retire after 25 years of service you just can‘t draw until you’re 55 years old. You can also retire after 20 years of service but can’t draw until you’re 65.

They want to give you a chance to die before the payments kick in.

 

[Just A UPS Guy]

Okay you can retire after 25 years of service you just can‘t draw until you’re 55 years old. You can also retire after 20 years of service but can’t draw until you’re 65.

Is that what the WCT told you?

 

[Carlos2262]

Is that what the WCT told you?

That’s what I’ve read, heard for years. Fellow drivers, Facebook etc. I‘m on UPS groups on Facebook.

 

[Just A UPS Guy]

That’s what I’ve read, heard for years. Fellow drivers, Facebook etc. I‘m on UPS groups on Facebook.

But you didn't call the WCT or read it on their website?

 

[Carlos2262]

But you didn't call the WCT or read it on their website?

The website states after 25 years of service you are locked in. Here is the quote “
If you have recent coverage when you complete 25 years of contributory service, it’s yours for good. You
have locked in your recent coverage protection. You can’t lose it by going on a reduced work schedule or leaving covered employment entirely. This is true even if you are many years away from retirement.“

 

[Carlos2262]

You wont find the answer here to your specific issue! You can contact Welcome | The Western Conference of Teamsters Pension Trust they govern your Teamster Retirement for the monetary portion. If you are So Cal and if its still the same, UPS controls your Welfare portion. Its not the same in all regions.

I was a So Cal Driver. I knew a guy who was 2 or three years away from retirement and he claims he got his retirement. His claim was both the company and the union agreed to it. How? is it true? It was his claim. He has moved away so cant contact him. Dont take it as an absolute possibility.

Altho I know he had Back issues and surgeries for a long time he said Dr's were involved on both sides. So I can only assume UPS and the Teamsters negotiated him out of the last years for him to meet the peer 80? Don't know for sure! And again cant contact him.

Basically? Your gonna be needing a Lawyer. Careful what you ask for tho. You make find your health issues remove you from working!

I had a buddy who retired early due to back issues he was only a few years away from retirement also. I actually think it’s better to start later if you’re under the peer agreement. Start in your mid thirties retire in 20 + years. He was In his late 50s so he was able to retire after 23 years.

 

[Just A UPS Guy]

The website states after 25 years of service you are locked in. Here is the quote “
If you have recent coverage when you complete 25 years of contributory service, it’s yours for good. You
have locked in your recent coverage protection. You can’t lose it by going on a reduced work schedule or leaving covered employment entirely. This is true even if you are many years away from retirement.“

Did you happen to open the link to that table showing your benefit for early retirement?

 

[Carlos2262]

Did you happen to open the link to that table showing your benefit for early

Did you happen to open the link to that table showing your benefit for early retirement?

Yes I know my total annual benefit. Since I don’t have that much spendings I can afford to live off that.

 

[Just A UPS Guy]

Yes I know my total annual benefit. Since I don’t have that much spendings I can afford to live off that.

Half is a big cut, good for you. Go get 'em.

 

[11.19igrad]

What supplement are you under?

FT/PT?

She closer to 62?

Lots of variables.

In central, healthcare costs are capped @ $500,000 lifetime, last I heard.

Don't want to discourage you, just want you to go in knowledgeable.

interesting, I never thought about healthcare coverage caps. Ive seen a lot of posts about the abundance of health benefits browns get for themselves and family. Wonder what the cap is for southern region.

 

[11.19igrad]

Well, we are talking about a company that forgets about peak every year and a union that has some of the worst voting participation numbers of any organization in the world.

I care about peoples mail, I do. But being in mgmt, I care about the 100 or so people that are working to process and ship out the mail. Peak is a complete disaster behind the scenes- everywhere. Honestly- modern life in general is all about masquerading reality. This pandemic or a worse one could send us all right back to the stone ages in a second. So, I just feel that the idea that forgetting about peak or any other modern convenience when its just overwhelmingly impossible - especially when trying to prop up the e-commerce facade- I am just indifferent. People will get their crap when they get it. If they dont, they still have food, water and shelter. They will survive. They still have their iphone. its ok.

 

[DELACROIX]

I care about peoples mail, I do. But being in mgmt, I care about the 100 or so people that are working to process and ship out the mail. Peak is a complete disaster behind the scenes- everywhere. Honestly- modern life in general is all about masquerading reality. This pandemic or a worse one could send us all right back to the stone ages in a second. So, I just feel that the idea that forgetting about peak or any other modern convenience when its just overwhelmingly impossible - especially when trying to prop up the e-commerce facade- I am just indifferent. People will get their crap when they get it. If they dont, they still have food, water and shelter. They will survive. They still have their iphone. its ok.

I been through a lot of peaks...this year (post Covid) I see a lot of customers shipping and receiving early, which is a good thing...any customer who waits before the deadlines and expects the gifts to arrive before Christmas I have no pity for, no matter would much they throw a hissy fit and cry the their kids will suffer if they don’t get their electronic on time.

 

[Been In Brown Too Long]

I had a buddy who retired early due to back issues he was only a few years away from retirement also. I actually think it’s better to start later if you’re under the peer agreement. Start in your mid thirties retire in 20 + years. He was In his late 50s so he was able to retire after 23 years.

There are actually two ways to look at retirement under the PEER agreement. You feel it's better to start later. I look at it just the opposite, as do a lot of guys that see me retired and are jealous. Starting later, you don't have to work as many years, yes. But, your pension payout is based on the number of contributions made to the fund, so you'll have a lower monthly payout. I started at 18, and retired under WCT PEER 80 at 49 years old. Yes, I had to work more years, 31, but UPS made 10 more years of pension contributions so I receive a higher pension payment, and I will be retired 10 full, younger years earlier. I like the starting younger scenario better. That's just me, there's no right answer, just different. Either scenario has it's pluses and minuses.

 

[Carlos2262]

There are actually two ways to look at retirement under the PEER agreement. You feel it's better to start later. I look at it just the opposite, as do a lot of guys that see me retired and are jealous. Starting later, you don't have to work as many years, yes. But, your pension payout is based on the number of contributions made to the fund, so you'll have a lower monthly payout. I started at 18, and retired under WCT PEER 80 at 49 years old. Yes, I had to work more years, 31, but UPS made 10 more years of pension contributions so I receive a higher pension payment, and I will be retired 10 full, younger years earlier. I like the starting younger scenario better. That's just me, there's no right answer, just different. Either scenario has it's pluses and minuses.

There are actually two ways to look at retirement under the PEER agreement. You feel it's better to start later. I look at it just the opposite, as do a lot of guys that see me retired and are jealous. Starting later, you don't have to work as many years, yes. But, your pension payout is based on the number of contributions made to the fund, so you'll have a lower monthly payout. I started at 18, and retired under WCT PEER 80 at 49 years old. Yes, I had to work more years, 31, but UPS made 10 more years of pension contributions so I receive a higher pension payment, and I will be retired 10 full, younger years earlier. I like the starting younger scenario better. That's just me, there's no right answer, just different. Either scenario has it's pluses and minuses.

Actually I wish I had started earlier. I started when I was 25 guys I went to school with started I

Half is a big cut, good for you. Go get 'em.

I’d rather get something now when my body is not too beat up. Then get full retirement in wind up in a wheelchair.