Johney
Pineapple King
UPS/UBT plan I believe.
Retirement Estimator/Calculator
- Thread starter Slay the Jaberwocky
- Start date
Non liberal
Well-Known Member
I have no idea. I’ve been trying to read and figure it out but don’t understand what I’m reading.
Non liberal
Well-Known Member
Because if you retire and you die it’s gone. Or if ups goes under or the union mishandles it, you get nothing.
I emailed my local pension board and had them send me a written estimate
KearsargeCoop
Baseball, dart board
Good idea
Thebrownblob
Well-Known Member
That’s actually not true.
Thebrownblob
Well-Known Member
The problem recently since the new contract is, they have not updated their estimates.
I know every plan is different but there is survivorship options but it does come with a cost
Non liberal
Well-Known Member
I get yearly estimates. Just don’t know how they figure that out to check them.
I know one of the people from the central that wants to retire and cannot get a solid answer either
I also get one of those every year but it's not accurate it assumes that you're working till age 65
Non liberal
Well-Known Member
Yeah reduced monthly benefits. But again if the company goes under or union mishandles it in the future. You could lose it.
Honestly even if you have the lump sum option now is the worst possible time to take it.
That lump sum is based on annuity payment and with interest rates this high the lump sum will be a lot smaller than if the interest rates were lower
Non liberal
Well-Known Member
Unreal, these past four years are just screwing everybody.
I guess the calculator is for those in the UPS plan, or is the website somehow connected to the local’s fund? Our local provides our pension here.
If the pension fund gets in trouble they might reduce your benefits down the road. Some guys like to take the lump and invest it, at least it’s theirs at that point.
Do you know where to find the retirement calculator on upsers.com? Can’t find it
