Prissy0120
Member
My offer is $91,000. I do not know whether this is good or bad. I have no idea what to do.
UPS Special Pension Buyout Offer - December 2016
- Thread starter JMR07168
- Start date
How old are you?
Prissy0120
Member
I am 49.
UPSandy36109
Active Member
Your answer depends on variables.H ow long have you been with Brown? Is that your sole mean of income? Don't forget the bennies...free health insurance.
Basically, I'd say if you have another job, with benefits comparable to Brown, take the payout. But if you took the payout, I'd actually postpone it at least a month or two. People are forgetting that if you accept the offer now, December is the end of the tax year. Why not at least roll it over into s traditional IRA-even if it's just until January 2-and take what you want to then?
Ultimately, it's your choice. Imho.
Basically, I'd say if you have another job, with benefits comparable to Brown, take the payout. But if you took the payout, I'd actually postpone it at least a month or two. People are forgetting that if you accept the offer now, December is the end of the tax year. Why not at least roll it over into s traditional IRA-even if it's just until January 2-and take what you want to then?
Ultimately, it's your choice. Imho.
Prissy0120
Member
I was with UPS 20 years. I have another job with the same benefits.
UPSandy36109
Active Member
What amount are you due as your monthly stipend, and at what age?
UpstateNYUPSer(Ret)
Well-Known Member
$17K less 20% is $13,600.
Do yourself a favor and do the math (monthly pension payment times 12 times the number of years that you are expected to live). You will find that the $17K is not nearly enough.
Prissy0120
Member
12/1/16 - $436
7/1/32 - $1,329
UPSandy36109
Active Member
I would take it. Roll it over in an IRA.
Using the rule of 72, you should double you money by the time you reach 65, if not a couple years before, just by investing in corporate bonds or preferred stock.
burrheadd
KING Of GIFS
1989
Well-Known Member
Black, not red
Doomchicken1313
Member
I was part time my whole 16 year career. Part time sup for 15.5 years. My offer was $29.5K. My age 65 is roughly $700. I'm wasn't counting on it to live on in 2041 when I turn 65, so I'm going to pay off bills and recover the 30K they gave me and try to get back to 700 a month. Short term gain for, hopefully, long term freedom..
UpstateNYUPSer(Ret)
Well-Known Member
Wu*?
Yes, there is a website where you can see if you are eligible.
https://secure.worknetservices.com/ups/*
I got post card buyout and called thursday they system.so called back today know cant find me.Then put on hold and the lady came back and said lady next to her found me but call back so did got different person know cant find me again worked their 4 years pt and 6 yrs fulltime .the lady said wait for packet. They wasted hr of my time anybody else have that problem .hope not .they hire better people to answer phone and computers
UpstateNYUPSer(Ret)
Well-Known Member
What are you babbling about?
Babbling about the great workers they got at 1800 num they got me all mixed up that cant spell. And couldnt find me the system .then put me on hold and she came back and said the next found me but have call back before tell me anything so did .and lady find name know so told wait to if I get packet since im on west coast .thanks answering my babbling
scooby0048
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