I feel sorry for them too......they do twice the work for half the pay!.................smart..a//
Management Retirement at 59
- Thread starter Yankfan
- Start date
I feel sorry for them too......they do twice the work for half the pay!.................smart..a//
PT Car Washer
Well-Known Member
I believe a lot of PTers would be happy to take home half the pay of a friend/T driver.
Catatonic
Nine Lives
They definitely don't do as much work but they do what they do at less than 1/2 the pay.
They definitely don't do as much work but they do what they do at less than 1/2 the pay.
And what about my SUP? He does next to nothing for double the pay??..SORRY HOAX....The beer is kicking in.......your the best MOD EVER!
SignificantOwner
A Package Center Manager
Maybe I missed it but I haven't heard anyone say that for years.
BrownTie
Well-Known Member
Your right because it has changed to "our biggest enhancement is our people".
FromPartnerToEmployee
Active Member
Conversations on possible changes to the management retirement age have died down. I hope that is sign it will stay at 55!
Has anyone heard of a possible plan to move to a combined retirement option, employees choice to retire at the age of 59 or 86 and out? (age + years of service) It would be a good way to not penalize the old timers who made Brown their life!!!
Has anyone heard of a possible plan to move to a combined retirement option, employees choice to retire at the age of 59 or 86 and out? (age + years of service) It would be a good way to not penalize the old timers who made Brown their life!!!
FromPartnerToEmployee
Active Member
Good point, Atlanta has made it clear that all decisions are financially based and maybe that's why they would like the idea of an 86ish and out to replace us with lower paid replacements. I'm not sure, but I think retirement pay comes from the "PLAN" and is off the books and the quarterly numbers, making our financials look better.
America is in trouble for several reasons. The main reason resides at 1600 Pennsylvania Ave. in Washington D.C. and your teamster union helped him move in there. Another reason is the dumbing down of America through government schools, i.e. public education, entitlement programs and more people who know who know the names of people on DWTS than know the names of their elected officials. This is all self inflicted AND by design. If you don't think it is you wouldn't have said "I think young people in America today are now more concerned about the next iphone release
Fourscoreandzeroyears
Active Member
Any additional supporting information on your 59 or 86 and out theory? Interested in knowing as I have well over 30 years but far from 55.
Catatonic
Nine Lives
Keep in mind that there will be a 3% penalty per year before age 65 even if you are eligible.
Age 65 is full retirement age if you have less than 35 years.
It is 60 years old if you have 35 years or more.
I retired at age 58 and 5 months with 40 years of service so I lost only 4 1/2 % off my monthly pension payment.
It's 8 months after retirement and Gawd, I'm glad I am not still working at UPS.
Fourscoreandzeroyears
Active Member
Thanks Hoaxster, I will have 39 years at 59 but it is 7 years away. Seems longer than the last 32 years. I have not ruled out 55 and 35. Sounds like I would have a 15% reduction. Have you ever used the UPSers Total Rewards retirement calculator? I am told the calculation in the web site does not include the money earned in sales commission and MIP but I am told that would be added to final average compensation during the final calculation. Do you know if that is correct?
That may be true for technical and administrative employees.
However, if you are an MIP participant (full time management) and you have 25 years of Benefit Service, you will NOT be penalized with a reduced benefit if you choose to retire "early" at 55.
The best source for Info on YOUR personal information and eligibility will be UPSers.com .
Here's a quote from the UPS Advantage website for an example.
Kelly's annual retirement benefit at age 65 is $*****. However, since she is retiring at age 55 and has at least 25 years of Benefit Service, this benefit is not reduced for early retirement. Therefore, Kelly's annual retirement benefit payable at age 55 is also $*****(same figure as the first one listed above). To arrive at a monthly amount, divide by 12, which is $****.**per month.
I'm close. within the next year with 36 years of service.
Someday, Not sure what you situation is. Are you a MIP participant? How long have you been a supervisor or manager, did you drive before you were promoted, how long were you covered by a Teamster plan, etc..... all those things may factor into your benefit amount and eligibility requirement.
Catatonic
Nine Lives
I was management (MIP) with 40 years service.
There were 4 options and the one that gave me the most money had this constraint.
I did not look at the other options.
In my age bracket, there is a 3% penalty per year before full retirement age for the grandfathered option applying to me.
I guess I should be happy when I was born (at least in regards to UPS retirement pension).
xcessuv
Benhearb4
Calm before the storm. Silence in the field just before you pull the trigger on that twelve point buck.....
Fourscoreandzeroyears
Active Member
PhatAzz, I'll have 32 years next year and 52 years old. I am MIP for 23 years, promoted in '89 from a driver. I was in teamster plan '82 to '89 so not sure how that will impact my projected pension amount. Just need to determine if hanging out past 35/55 provides any long term advantages besides still working. If I write the teamsters can they provide me an estimate now or does UPS pay me and collect from teamsters? Thanks
OldManAllowance
Well-Known Member
You will receive 2 payments, management and union. Your management pension will be reduced by the amount the union gives you.
Catatonic
Nine Lives
My Union pension is $1.51 per month.
Since 728 is in Central States, UPS administers and pays both, so I just get 1 check per month.
Similar threads
