Mugarolla
Light 'em up!
I agree.
It does look like a multi-employer, except that certain employers who have reentered the hybrid fund, like UPS, are only liable for their own employees....single employer?
Pension security
- Thread starter Kidlogic
- Start date
I agree.
It does look like a multi-employer, except that certain employers who have reentered the hybrid fund, like UPS, are only liable for their own employees....single employer?
Shiftless
Well-Known Member
Perfect answer is:
Kidlogic, DO NOT RETIRE! Work till you Puke! Then walk away with a happy mind you did the best you could!
It is very simple to do, you still get a pay check every week, NO WORRIES about Nuthin!
If you do this, I will be forever Thankful for your contribution!
rod
Retired 23 years
NOTHING about UPS warrants a "simple" answer. You will find what flies with one employee is a big no no to another one (even within the same center. Same with Teamster Locals. UPS and the Teamsters have a thousand answers for a hundred questions. It all depends on who's talking on the other end of the phone. It's best to get ANYTHING quoted to you in writing. CYA
542thruNthru
Well-Known Member
DELACROIX
In the Spirit of Honore' Daumier
At age 66 to 70 you can start to collect your social security and continue to work full time...At age 70 1/2 your can still work and collect your eligible pension....At age 65 you automatically are eligible for medicare coverage...NO WORRIES like Shiftless quoted..Best to take care of yourselves neither the company or the union will, it is a marathon not a 30 year sprint anymore. Most of us are facing working way past 60 now and there is no way that the Powers controlling your Pension and Health and Welfare are going to change it. It is not practical for the company or the union to create anymore new early retirees to drain their resources.
There is so many scenarios involved with all our individual pension and health and welfare benefits, each region has their own, either controlled by the Company or the Union. Anybody who has ever asked a "simple" answer concerning their retire from both the Company and The Union will get stonewalled from the get go...Forget about written documentation on the real hard questions...All you get is confusing bare minimum response to your questions, if not misinformation...It is like they are hiding something.
BrownFlush
Woke Racist Reigning Ban King
olroadbeech
Happy Verified UPSer
Did you call the pension plan people and ask?
Kidlogic
Well-Known Member
I received a reply from the pension plan. Is as follows:
Anne Desrosiers <[email protected]>
10:46 AM (37 minutes ago)
to [email protected]
Good day,
The Trustees are working diligently to insure this Pension Fund does not become insolvent, that being said to calculate your PBGC guaranteed benefit follow the steps below.
1. Review the Annual Funding Notice page 3 under Benefit Payments Guaranteed by the PBGC to understand how the process works follow this link - https://www.nettipf.com/pdf_files/fundingnotice2019.pdf
2. Calculate your benefit at www.nettipf.com , click member login then Hours History then Benefit Calculation to get your monthly benefit amount.
3. Go to this 3rd party website not affiliated with New England Teamsters website PBGC Multiemployer Guarantee Calculator | Pension Rights Center enter your monthly amount and years of service click calculate and it will show your PBGC guaranteed monthly and annual benefit.
Best regards,
Pension Dept.
I followed the steps and if I retire at 60 I would get 1358.50 per month if the plan were to fail
Anne Desrosiers <[email protected]>
10:46 AM (37 minutes ago)
to [email protected]
Good day,
The Trustees are working diligently to insure this Pension Fund does not become insolvent, that being said to calculate your PBGC guaranteed benefit follow the steps below.
1. Review the Annual Funding Notice page 3 under Benefit Payments Guaranteed by the PBGC to understand how the process works follow this link - https://www.nettipf.com/pdf_files/fundingnotice2019.pdf
2. Calculate your benefit at www.nettipf.com , click member login then Hours History then Benefit Calculation to get your monthly benefit amount.
3. Go to this 3rd party website not affiliated with New England Teamsters website PBGC Multiemployer Guarantee Calculator | Pension Rights Center enter your monthly amount and years of service click calculate and it will show your PBGC guaranteed monthly and annual benefit.
Best regards,
Pension Dept.
I followed the steps and if I retire at 60 I would get 1358.50 per month if the plan were to fail
BrownFlush
Woke Racist Reigning Ban King
Makes you just want to get out there and bust your arse for 'em, doesn't it?I received a reply from the pension plan. Is as follows:
Anne Desrosiers <[email protected]>
10:46 AM (37 minutes ago)
to [email protected]
Good day,
The Trustees are working diligently to insure this Pension Fund does not become insolvent, that being said to calculate your PBGC guaranteed benefit follow the steps below.
1. Review the Annual Funding Notice page 3 under Benefit Payments Guaranteed by the PBGC to understand how the process works follow this link - https://www.nettipf.com/pdf_files/fundingnotice2019.pdf
2. Calculate your benefit at www.nettipf.com , click member login then Hours History then Benefit Calculation to get your monthly benefit amount.
3. Go to this 3rd party website not affiliated with New England Teamsters website PBGC Multiemployer Guarantee Calculator | Pension Rights Center enter your monthly amount and years of service click calculate and it will show your PBGC guaranteed monthly and annual benefit.
Best regards,
Pension Dept.
I followed the steps and if I retire at 60 I would get 1358.50 per month if the plan were to fail
Kidlogic
Well-Known Member
Makes me want to vote for who ever will support pension reform.
rod
Retired 23 years
That's approximately what I will get when ours goes TU in a few years.
BrownFlush
Woke Racist Reigning Ban King
Every fund is different .
How many years is yours projecting solvency?
olroadbeech
Happy Verified UPSer
First of all do you think UPS is going out of business anytime soon?
What pension conference are you in? We are in the Western which has one the strongest pensions in the country. Every year we receive a financial report stating assets , liabilities , funding % ( which is an important # ). The government will step in if that number falls below a certain number and I am pretty sure there is pension insurance. What approx. would be your pension at age 60 if the pension is good? Just wondering since you said it would be $1358 if it failed . Is that half or worse?
Anyway , try not to have all your eggs in the pension basket . We also have the 401k, IRA's , social security for both of us coming in now and we were very fortunate enough to pay off our house ahead of schedule and about a year before I retired.
Brownslave688
You want a toe? I can get you a toe.
Upstate ny?
I thought that pension just got cut big time? 6200 per month is unsustainable in my opinion.
Kidlogic
Well-Known Member
Maine with 39 years of service 7 to go.
Brownslave688
You want a toe? I can get you a toe.
Why would anyone stick around 45+ years
BrownFlush
Woke Racist Reigning Ban King
No kidding ? Never been to Maine.
Planning the northeastern tour right now for this fall in the RV.
Any recommendations ?
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