Management Retirement at 59

[FromPartnerToEmployee]

Latest news on UPS Management Retirement changes: (New because I just thought it up)
Instead of just turning on a 59 retirement age, how about a ramp up?
Born in 59-61 = 55 year old retirement age.
Born in 62-64 = 56
Born in 65-67 = 57
Born in 68-69 = 58
Born in 70 -+ = 59
Since I designed the plan, I was sure to make sure I fell in the 55 year bracket. For once in my life, my bracket is in the FINAL FOUR.

 

[ActionJaxson]

Your taxed on social security and medicare from the day you start working and part of what your taxed on goes to people who do nothing but are able.....welfare ? Got your info wrong

 

[Dragon]

Latest news on UPS Management Retirement changes: (New because I just thought it up)
Instead of just turning on a 59 retirement age, how about a ramp up?
Born in 59-61 = 55 year old retirement age.
Born in 62-64 = 56
Born in 65-67 = 57
Born in 68-69 = 58
Born in 70 -+ = 59
Since I designed the plan, I was sure to make sure I fell in the 55 year bracket. For once in my life, my bracket is in the FINAL FOUR.

I vote for you!!

 

[preload1]

Yes free market globalization has worked out very well for Corporations that pay no tax and JOB CREATORS FOR OTHER NATIONS LIKE TWITT ROBME.

We cant even get the Republicans and conservatives to raise minimum wage AT ALL when the numbers show that minimum wage increases will not really drive up prices that much overall.

THE WINGNUTS AND REPUBLICANS DID A NICE JOB OF CALLING THE OCCUPY MOVEMENT LAZY AND MISGUIDED BUT THE OCCUPY WALLSTREET MOVEMENT WAS A START. BUT

I think young people in America today are now more concerned about the next iphone release than they are about Corporate greed. AMERICA IS IN TROUBLE.

And of course let us not forget people like Bill Clinton who signed NAFTA, barack HUSSEIN obama who has done his best to trample the dreams of the middle class and destroy the American middle class and replace it with Communist ideals and of course James Hoffa (the living one) who has no problem sucking up to HUSSEIN because he is a democRAT and still take your union dues monies to support the policies of America hating no good liberals of all stripes. And you're concerned about corporations making money? You must be a team steer. Just follow the herd team steer. They are leading you toward the cliff.

 

[FromPartnerToEmployee]

I try to keep this thread fresh in the hopes that someone at 55 who works on management retirement plans, could offer some inside information on what happening, if anything, on possible changes to the plan.
If a change is coming, I'm standing behind my ramp up plan or moving to a years of service + age. 86 and out works for me!! (34+52=86 and out)
I have 30 months to 55, so maybe no news, is good news!!

 

[seagull4]

I try to keep this thread fresh in the hopes that someone at 55 who works on management retirement plans, could offer some inside information on what happening, if anything, on possible changes to the plan.
If a change is coming, I'm standing behind my ramp up plan or moving to a years of service + age. 86 and out works for me!! (34+52=86 and out)
I have 30 months to 55, so maybe no news, is good news!!

I have heard from some very reliable sources, that there may be another buyout on it's way for MANAGEMENT/SUPERVISORS only. ( Not hourly) It would go along with the pension changes. The topic has come up many times on this forum. Only time will tell.

 

[FromPartnerToEmployee]

I have heard from some very reliable sources, that there may be another buyout on it's way for MANAGEMENT/SUPERVISORS only. ( Not hourly) It would go along with the pension changes. The topic has come up many times on this forum. Only time will tell.

Rough retirement numbers are $4K/month*30 years (if you live to 85) = $1.4M.
Or we take a $150K buyout, Or stick around until 59????????? I'm not liking the math on any of this.

 

[UPS1907]

There will be no changes in the pension plan. UPS wouldn't be able to handle all the lawsuits. Every month/year that goes by, it's more secure. It doesn't exist for a chunk of employees now and it will go away in time on it's own.

 

[beentheredonethat]

I hope you are right 1907. However, other companies have switched pension plans before and done buyouts without running afoul of the courts. I think UPS could do this and win lawsuits. However, as you said, there's already money set aside in the pension funds and they already changed it for newer mgmt people. I'm hoping that keeps them happy enough for another 7 years.

 

[oldngray]

I hope you are right 1907. However, other companies have switched pension plans before and done buyouts without running afoul of the courts. I think UPS could do this and win lawsuits. However, as you said, there's already money set aside in the pension funds and they already changed it for newer mgmt people. I'm hoping that keeps them happy enough for another 7 years.

I don't know if UPS management uses an ERISA plan but those are designed to be transferable between companies.

 

[beentheredonethat]

I don't know if UPS management uses an ERISA plan but those are designed to be transferable between companies.

I don't know the technical details. I do know that older mgmt upsers (like myself) have a pension plan thru UPS and once vested will get a pension. We are also eligible for early retirement at 55 with a minimum number of years. (I don't know since I'll have way more then the min with 33+ years in). However, if I were to leave UPS today well shy of 55. The pension would not increase. I'd have to wait til normal retirement age of 65, and my pension would be reduced by roughly 3% per year I left before 65 (not 55). So at 48. I'd lose 17*3 or 51% of my eligible pension and I wouldn't collect until 65. (A huge cut in benefits). The newer mgmt has a more portable plan which is much more like an additional\seperate 401K\IRA. Where the company puts a defined amount in based on years of service and age of employee.

 

[Md861]

Which is worse - the lower class that sponges off society or the Corporations that don't feel an obligation to society?

Greed is the driving force on both those fronts. It's all about me attitude is going be all our failure. The dollar has become more important then peace of mind and quality of life over all

 

[Catatonic]

Greed is the driving force on both those fronts. It's all about me attitude is going be all our failure. The dollar has become more important then peace of mind and quality of life over all

I remember Aristotle saying that or was it Plato?

 

[Md861]

I remember Aristotle saying that or was it Plato?

Maybe but they died poor unlike any management type at ups. Take all they can give and then take what they can't . Right?

 

[Catatonic]

Maybe but they died poor unlike any management type at ups. Take all they can give and then take what they can't . Right?

I don't understand your reply to my post.
My point was that greed is what's wrong with society has been chanted for over 2000 years.
Now what exactly was yours about?

 

[FromPartnerToEmployee]

If UPS was to announce changes to the Management Retirement, when would they announce it? Oct-Nov so 1/2 the management could leave prior to peak?

 

[PT Car Washer]

If UPS was to announce changes to the Management Retirement, when would they announce it? Oct-Nov so 1/2 the management could leave prior to peak?

Just heard one center in my building are brining back (2 center building) 3 recently retired sups for peak. Paying them FT package car driver rate to help train and run the center.

 

[bottomups]

I remember Aristotle saying that or was it Plato?

I didn't realize that you were that old!

 

[Catatonic]

I didn't realize that you were that old!

Try and keep up, will ya?

 

[IVE GOTTA PACKAGE 4U]

Try and keep up, will ya?

That's what she said.