Ups 25 Year Service Retirement

[moreluck]

Good luck, Milkman! The $50 a month medical for the wife & yourself is incredible.

We pay more than $1000.00 a month. Big difference!!

Make sure you all figure exactly what your expenses will be before taking the retirement plunge.

 

[brownrodster]

I
Our pension is 3700 monthly. I took 50k up front and wife pension. After taxes that I selected, I clear a hair under 3g monthly. I rolled the 50k into my 401k then moved it all to my own fund that I chose. I pay 50 bucks monthly for medical for me and the wife.

50$ a month is amazing. I don't know if this is fact. But I've heard that retiree medical is around 400$ a month per person in my region (west coast). Can anyone confirm or deny?

 

[tunemixer]

They have done away with the 50 k up front money.As of Jan 1.
Somebody made a good point about the cheap oil changes. Hell why should I craw under my car to save 5.00 every 3000 miles?
I am off the week so when I go back Monday I will only have 9 1/2 weeks left. But I will have two days to take off plus we get the four day weekend for Thanksgiving.
I am getting my medial paid until I'm 65 . My wife is going to cost 331.00 a month .
Had an appointment with SS on Monday. I will be making 1520.00 a month with my first check coming Feb 10th 2010. And I could get a little more a month . The said because I was in the Air national guard for 8 years that time should count as well.
I'm now starting to get excited.

 

[ups79]

They have done away with the 50 k up front money.As of Jan 1.
Somebody made a good point about the cheap oil changes. Hell why should I craw under my car to save 5.00 every 3000 miles?
I am off the week so when I go back Monday I will only have 9 1/2 weeks left. But I will have two days to take off plus we get the four day weekend for Thanksgiving.
I am getting my medial paid until I'm 65 . My wife is going to cost 331.00 a month .
Had an appointment with SS on Monday. I will be making 1520.00 a month with my first check coming Feb 10th 2010. And I could get a little more a month . The said because I was in the Air national guard for 8 years that time should count as well.
I'm now starting to get excited.

Great thing about social security is that not all of it is taxed and in the state of illinois none of our pension or social security is taxed.

 

[The Milkman]

50$ a month is amazing. I don't know if this is fact. But I've heard that retiree medical is around 400$ a month per person in my region (west coast). Can anyone confirm or deny?

Trust Me. Only 50 a month...No reason to BS here to Union Brothers. Also I was glad I signed up for the 401k as soon as it was offered as the bag of cash collected makes my retirement alot easier as I do not want to work anymore..Not sure what will happen to medical costs in the future so I am glad I bailed when I did.

 

[SameRightsForAll]

I will be retiring Dec 30th. I will have 26 years as a driver. I will be 62. There is no more 25 or 30 and out. The deal is if you aren't 57 you can't collect. And if you leave before 57 you have to wait until you are 64.Thoe retiring at 57 will receive a pension but at a reduced rate. The pension is based on age 64. Thats when it maxes out. For those of you who leave at 57 you won't receive your full benefit.The closer you are to 64 the more you will get. I am getting almost 600.00 more a month with 26 year then a driver that retired with 30 years at 52. That of course was before the age 57 deal took place. For those that left as part timers or drivers to go into management they will have to wait until they are 64 to ge the union pension.
As far as benefits. I will get my benefits until I am 65. at that point medicare takes over. If you are married and your wife is 62 she will also receive them. If you leave before 62 you can buy them through the union for you and your wife . But you or she has to be at least 57.
I turn 62 on Dec 7th . I could go at that time. but by working through peak I will receive all of my vacation as a bonus.

What's your saying is confusing. You say you will get your benefits until you are 65 but 64 is when your full benefits kick in. No matter how I read it, you're saying you only get 1 year of benefits. If you had retired at 64, would you only get 1 year of benefits? What does Medicare have to do with UPS retirement and Union pensions? Nothing.

 

[UpstateNYUPSer(Ret)]

What's your saying is confusing. You say you will get your benefits until you are 65 but 64 is when your full benefits kick in. No matter how I read it, you're saying you only get 1 year of benefits. If you had retired at 64, would you only get 1 year of benefits? What does Medicare have to do with UPS retirement and Union pensions? Nothing.

Medicare has everything to do with UPS retirement and union pensions as you will have to pay for your own healthcare until such time as you turn 65 and qualify for Medicare.

The rest of his post is very confusing.

 

[Catatonic]

What's your saying is confusing. You say you will get your benefits until you are 65 but 64 is when your full benefits kick in. No matter how I read it, you're saying you only get 1 year of benefits. If you had retired at 64, would you only get 1 year of benefits? What does Medicare have to do with UPS retirement and Union pensions? Nothing.

Medicare has everything to do with UPS retirement and union pensions as you will have to pay for your own healthcare until such time as you turn 65 and qualify for Medicare.

The rest of his post is very confusing.

Hopefully in the last three years since his post, he has got it all straightened out.

 

[tunemixer]

Sorry if I confused you. What I meant was I would get my medical benes until I turn 65. Actually that stops Nov. 30 th but Medicare kicks in. To keep my Teamster medical plan it would cost me over 400.00 a month. Medicare comes out of my SS and thats only 99.80 per month. I'm a very healthy person and take no medication so I chose the plan A& B.
I also suggest buying a life insurance policy that will pay you a long time and take the full amount of your retirement. I have a 600,000 policy for 400.00 a month. I'm putting almost 600.00 extra of the 25% they would have taken out for the death benefit in my pocket. And I can add my kids to the policy if my wife passes before I do.
Hard to believe it took almost three years for this post to get a reply. Dec. 28th will be three years since I retired. I don't miss UPS for one second. I've been back a couple of times but just to ship out packages. There is life after Brown.

 

[packageguy]

Does Any One Know Of Any Body Who Has Retired On This Plan? If So, How Long Will It Take Ups To Process A Retirement? And When Would One Recieve Their First Check?

If this is any help, 3 guys I know retired they had 25 years of service and 55 years old, they call h/r said they wanted to reire last week of the month, they got there checks on the 1st of the month. Yes they are very happy retired guys

 

[rod]

I know a gal who swore for years that she would do the 25 and out thing. She is still there now with 32 years service. The last I talked to her she said "next year" maybe--------------------------sure.