Pension Buyout

[35years]

A few of articles to help...

IRS Cracks Down On Lump Sum Pension Buyouts

Strategies To Maximize Pension Vs Lump Sum Decisions

Should you take a pension buyout?

If an income stream at retirement is desired then the lump sum can be evaluated by comparing the monthly income stream that an annuity can produce at the lump sum price. Not that the annuity should be purchased... just as a guide to what monthly income level the lump sum could buy.

 

[carebear]

I got a pension payout it said I would get 16, 900 for 7 years is this a scam

 

[UpstateNYUPSer(Ret)]

I got a pension payout it said I would get 16, 900 for 7 years is this a scam

Nope.

 

[GameCockFan]

That's exactly what a friend got offered. 7 years, mix of part-time and full-time, mostly part-time. 17K

 

[UpstateNYUPSer(Ret)]

That's exactly what a friend got offered. 7 years, mix of part-time and full-time, mostly part-time. 17K

Did he take the lump sum, roll it over or decline their offer?

 

[DOK]

I got a pension payout it said I would get 16, 900 for 7 years is this a scam

Is this offer only made to former employees?

 

[UpstateNYUPSer(Ret)]

Is this offer only made to former employees?

Yes and only for your part time years.

 

[ISaiah]

How can I check if I am getting some without the mail?! (I may have accidentally gotten rid of it..) appreciate any help!

 

[DOK]

Yes and only for your part time years.

Some clarification needed, so if you are a former part time employee and are now a full time driver, you wouldn't get this offer? It's for people who no longer work for the company in any capacity?

 

[UpstateNYUPSer(Ret)]

Some clarification needed, so if you are a former part time employee and are now a full time driver, you wouldn't get this offer? It's for people who no longer work for the company in any capacity?

Yes, it is for former employees only.

 

[GameCockFan]

Did he take the lump sum, roll it over or decline their offer?

He took the offer but has not received the money yet.

 

[burrheadd]

How can I check if I am getting some without the mail?! (I may have accidentally gotten rid of it..) appreciate any help!

Sorry your SOL

I bet yours was about 300k
Ouch that sucks

 

[UpstateNYUPSer(Ret)]

He took the offer but has not received the money yet.

It will be disbursed in early December, just in time for him to include it on this year's taxes.

 

[ISaiah]

Sorry your SOL

I bet yours was about 300k
Ouch that sucks

Darn oh well I'll just keep my no job and welfare and food stamps you pay for.. thanks bud!!

 

[carebear]

Nope.

It will be disbursed in early December, just in time for him to include it on this year's taxes.

I hope so

 

[titoske]

So i filled all the information online in late october of this year, and i uploaded proof of age etc . Step 5 says "get paid" unchecked because payout will be administered sometime this month of December. Anyone knows when exactly money will be sent out to whoever elected for the lump sum option?