Pkgrunner
Till I Collapse
13 months part time 34 years pkg driver...last check on pension was $75k
Part-time retirement
- Thread starter Noelf1250
- Start date
DELACROIX
In the Spirit of Honore' Daumier
Sounds like you can go now..Why wait till July 2023?
Pkgrunner
Till I Collapse
LIFE loves curveballs
Pkgrunner
Till I Collapse
plus... I love living in SDCALIFE loves curveballs
DELACROIX
In the Spirit of Honore' Daumier
Approximately 3 1/2 years... need 5 years to become vested in order to collect at age 65.
I believe you get nothing... or close to it...
Sorry...
You only need 5 years to be vested
burrheadd
KING Of GIFS
At 65 you might get a few dollars a month
PT Car Washer
Well-Known Member
A few years ago UPS was buying out most of the pensions from people like you. Wanted to clear the books. Most rolled theirs over into an IRA. Some paid the penalty and partied.
DELACROIX
In the Spirit of Honore' Daumier
You started at 19.. the minimum age to start vesting would of been age 21..it could of been 25 when you started in “86” or when you left in “92”...
Again Sorry...
That may be incorrect.
I don't know if they had an age restriction back then
oldngray
nowhere special
They did. It was 25 at first so part time retirement was more of a myth. It changed to 21 but the years worked before 21 still didn't count. It was also 10 years to get vested instead of 5.
I couldn't remember
DELACROIX
In the Spirit of Honore' Daumier
One Dinosaur talking to another..the days of the career part timer were over a long time ago. I do remember that during the “93” negotiations Carey was trying to negotiate the Central and Southern part timers pension into the Central. I still have a flyer from that time that stated that only less than 50 part timers were collecting from the Company controlled pension plan and being paid peanuts. That part time pension plan was created around 1973, at that time you did not collect any vesting credit if you were under 25 years old. Almost all the part timers from 1970’s to 2000 were college students and under 25 or even 21. You can remember how management chased us off the clock before our 3.5 hour guarantee, they were thinking 40 years ahead by promising a pension that paid practically nothing compared to the full timers even if you stayed past 25 years.
These part timers that left were expecting something for those service years only to find out they had to wait till 65 to collect if they were lucky enough to have 5 or 10 years vested.
Throw into that equation the 6 % penalty for every year prior to age 65 if you wanted to collect earlier.
I have a 1993 print out of the UPS Pension for the part timers and one for the UPS Retirement Plan for management. About the same amount of active participates, the only differences would of been the amount of annual monetary contributions going into those two plans...and the percentage of those retired and collecting a benefit.
oldngray
nowhere special
UPS wanted college students that would work for a couple of years before moving on. They hated the idea of career part timers. The union also liked the high turnover of part timers that kept a constant flow of initiation dues so did little to change the situation.
DELACROIX
In the Spirit of Honore' Daumier
We had a package car driver that had that look..I believe he was a Vietnam Vet..
Everybody thought he would go postal in a minute, management were scared to death to mess with him.
I got a chance to talk to him on the “97” picket line.. he turned out that he had a masters degree in philosophy, smart as a whip.
Retired long time ago...he knew the system and played them big time..
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