Part time employee pension

[onestoptogo]

I have been at UPS p/t for 22 years, and 5 of my co-workers have been there longer than that. I am retiring June 30th 2026, I will have the years, but not the age. I'm guessing I can't collect until 65 is that right?

I recall that Western Conference P/T were under the 84 and out. Full time gets the benefit of 80 and out. As long as you have the required 500 hours for each year of service, I believe you could retire now. Have them send you the printout that shows hours for each year of service. Add every year with 500 hours or more to your age. If that exceeds 84 you can retire early under Pers. Your total pension will be calculated on how much was contributed to your account.

 

[saintrick]

So If I retire at 53, I have to wait until I'm 65 to collect WITHOUT BEING PENALIZED?

If you make 25 years there is no reduction.

 

[TheHelmetGuy]

Hello I’m Hoping I can get some answers to my own early retirement predicament . I am 41 years old I started ups at 17 . Been a part timer the entire 24 years . I’ve been looking at the 25 year and out pension for the last few years I’m in the metro Philly region the current contract states I can retire AT ANY AGE and collect $1325 a month . I’ve read a few posts here about the 6 % deduction per year retiring before age 65. Does that still apply with the AT ANY AGE disclaimer or am I good to to retire after 25 years ? Thanks for any help !

 

[badpal]

Hello I’m Hoping I can get some answers to my own early retirement predicament . I am 41 years old I started ups at 17 . Been a part timer the entire 24 years . I’ve been looking at the 25 year and out pension for the last few years I’m in the metro Philly region the current contract states I can retire AT ANY AGE and collect $1325 a month . I’ve read a few posts here about the 6 % deduction per year retiring before age 65. Does that still apply with the AT ANY AGE disclaimer or am I good to to retire after 25 years ? Thanks for any help !

Well every supplement different. but if yours reads that way i believe you can and get that amount as soon as u go. Central reads like that. Knew a guy once that had less than that magic number say low 20s thinking he get a prorated amount starting then. Found out after it too late about the 6% thing. already had finalized his paperwork.

 

[TheHelmetGuy]

Well every supplement different. but if yours reads that way i believe you can and get that amount as soon as u go. Central reads like that. Knew a guy once that had less than that magic number say low 20s thinking he get a prorated amount starting then. Found out after it too late about the 6% thing. already had finalized his paperwork.

Thanks I’m starting the process of getting everything together for the paperwork and it’s already frustrating getting things from the UPS side . I’d really like to get a buyout when I retire instead of the monthly pension any chance of that happening ?

 

[DELACROIX]

Hello I’m Hoping I can get some answers to my own early retirement predicament . I am 41 years old I started ups at 17 . Been a part timer the entire 24 years . I’ve been looking at the 25 year and out pension for the last few years I’m in the metro Philly region the current contract states I can retire AT ANY AGE and collect $1325 a month . I’ve read a few posts here about the 6 % deduction per year retiring before age 65. Does that still apply with the AT ANY AGE disclaimer or am I good to to retire after 25 years ? Thanks for any help !

I believe you have to be age 21 in order to start vesting under the UPS pension plan for part timers. So automatically cut 4 years off that 25 year service pension, I did read that they were trying to lower that age to 18 with this Contract.

When you reach those part time service requirements of 25, 30 and 35 years that 6 percent penalty is voided. You get what it reads in the Contract, minus spousal reduction, any healthcare co-pays and taxes.

 

[badpal]

Thanks I’m starting the process of getting everything together for the paperwork and it’s already frustrating getting things from the UPS side . I’d really like to get a buyout when I retire instead of the monthly pension any chance of that happening ?

Good luck, but get it written in stone before signing anything, and like DELACROIX stated check into the before 21 thing. I thought it had been changed a contract or 2 before, but that's a supplement by supplement thing

 

[badpal]

As far as a buyout, that possibly more likely if you had less than 25. UPS trying to rid the books of future obligations. And everything could change when and if we get this contract done

 

[badpal]

And i think i have heard part time retirees say when you retire, they buy an annuity in your name and you get the check from an annuity company. another way to get the obligation off thier books

 

[PT Car Washer]

I believe you have to be age 21 in order to start vesting under the UPS pension plan for part timers. So automatically cut 4 years off that 25 year service pension, I did read that they were trying to lower that age to 18 with this Contract.

When you reach those part time service requirements of 25, 30 and 35 years that 6 percent penalty is voided. You get what it reads in the Contract, minus spousal reduction, any healthcare co-pays and taxes.

I knew of a few PT that started at 17 and retired after 30 years. They said they were not penalized for being under 21.

 

[saintrick]

If you are in the

I knew of a few PT that started at 17 and retired after 30 years. They said they were not penalized for being under 21.

Once you are a participant in the plan ( Jan 1 or July 1 after you reach age 21) you are given vesting credit based on your date of employment with UPS.

 

[saintrick]

The retirement calculator on upsers works for part timers now. It had not in the past.

 

[DELACROIX]

And i think i have heard part time retirees say when you retire, they buy an annuity in your name and you get the check from an annuity company. another way to get the obligation off thier books

I wonder if they are doing the same thing with their full time retirees under the (IBT/UPS Retirement Plan) ?

I am not a financial wizard, but it would be interesting to hear from some of our more learned members on why the Company is purchasing insurance annuities in order to cover current and future retirees .... and are they doing the same thing to their own management's retirement plans..?

 

[PT Car Washer]

If you are in the

Once you are a participant in the plan ( Jan 1 or July 1 after you reach age 21) you are given vesting credit based on your date of employment with UPS.

I wondered how that worked because I asked them specifically if their pension was reduced because they started before 21, used to be 25. They said no and I had no reason not to believe them.

 

[TheHelmetGuy]

Wow thank you very much for all this information ! I have a lot to look into but this was very informative I appreciate it! So far I’ve contacted UPS retirement hoping they could give me a date I’m eligible to retire and all I received was a blank PDF form to fill out and physically mail to Georgia so I know this process will be long and rough . Finding anyone in my building who knows anything has been impossible so far .

 

[DELACROIX]

Wow thank you very much for all this information ! I have a lot to look into but this was very informative I appreciate it! So far I’ve contacted UPS retirement hoping they could give me a date I’m eligible to retire and all I received was a blank PDF form to fill out and physically mail to Georgia so I know this process will be long and rough . Finding anyone in my building who knows anything has been impossible so far .

Do not expect too much from the UPS Retirement Department...Typical bureaucracy.

Just fill in the spaces and mail it in...takes about a month to get anything back.

You will be asking for an estimate, do not rely on that..you will not know anything concrete till you put in your application.

Your part time pension is totally controlled by UPS, do not ask any Union Representative for information...Generally their response is that the Union has nothing to do with your benefits, send any requests to Corporate.

It is a shame how the process works, total disregard by both parties for your long years of service or membership..any honor or loyalty to their long term employees and members (Union or Management) left the building many moons ago.

Very important to keep all your documentation, for what it is worth...it is like everybody involved with the process is hiding something...

I am hoping that there will be major improvements in the UPS Pension Plan this contract, it is long overdue...when the tentative comes out read it and vote accordingly..

 

[TheHelmetGuy]

Yes thanks I will. The retirement calculator on upsers has actually been helpful I’m tinkering with the dates and it seems to acknowledge my 25 year and out pension the $1325 per month option shows up . Then I change it to 30 years and the money goes up to $1950 so it does appear to all be in the system . When I try to retire now it says I’m not eligible and it won’t show me anything so I’m optimistic

 

[DELACROIX]

I wondered how that worked because I asked them specifically if their pension was reduced because they started before 21, used to be 25. They said no and I had no reason not to believe them.

@PT Car Washer ...You know and most everybody on this site knows that the pension benefits for all the long term part timers under the UPS Pension Plan have been ignored for decades.

Fact is that you were under Peer 84 in the Western your current retirement benefits would be twice or even three times better than what you will be getting under the Central or Southern. Just from reading your posts you already have over 45 years (part time) and most of that is working full time years.

a. Your service pension is capped at 35 years, no more vesting or benefit increases after that. Those part timers under Peer 84 will continue to get increases no matter how many years they work, I am estimating by the end of 2028 those part time benefits will probably increase to 6000 an month (35 years part time service) any age.

b. Your benefit level is currently 2250 with 35 years in, but that 60 dollar credit year didn't start till 2008..You will be lucky enough to get 2000 if you left now.

Sounds like you are content with those totals or just given up...Just not enough pressure for the Union to negotiate any major improvements for anybody with part time service under the Company Controlled (UPS Pension Plan), that includes most of our Full Timers under the IBT/UPS Pension Fund.

 

[PT Car Washer]

@PT Car Washer ...You know and most everybody on this site knows that the pension benefits for all the long term part timers under the UPS Pension Plan have been ignored for decades.

Fact is that you were under Peer 84 in the Western your current retirement benefits would be twice or even three times better than what you will be getting under the Central or Southern. Just from reading your posts you already have over 45 years (part time) and most of that is working full time years.

a. Your service pension is capped at 35 years, no more vesting or benefit increases after that. Those part timers under Peer 84 will continue to get increases no matter how many years they work, I am estimating by the end of 2028 those part time benefits will probably increase to 6000 an month (35 years part time service) any age.

b. Your benefit level is currently 2250 with 35 years in, but that 60 dollar credit year didn't start till 2008..You will be lucky enough to get 2000 if you left now.

Sounds like you are content with those totals or just given up...Just not enough pressure for the Union to negotiate any major improvements for anybody with part time service under the Company Controlled (UPS Pension Plan), that includes most of our Full Timers under the IBT/UPS Pension Fund.

Fellow PT that retired recently are receiving the $2275/month pension for 35 years. I don't know why I would get less.

 

[saintrick]

	contract year
years of service	pre 1997	1997​	2008​	2013​	2018​
	monthly benefit
35	1750​	1925​	1925​	2100​	2275​
30	1500​	1650​	1650​	1800​	1950​
25 age 60	1250​	1375​	1375​	1500​	1625​
25	1000​	1125​	1125​	1250​	1325​
increase over prior		175​	0​	175​	175​
contract		150​	0​	150​	150​
		125​	0​	125​	125​
		125​	0​	125​	75​