UPS Special Pension Buyout Offer - December 2016
- Thread starter JMR07168
- Start date
UpstateNYUPSer(Ret)
Well-Known Member
They are trying to shed a portion of their pension obligation and want it off their books before the end of the year.
To the OP: Are you rolling it over or taking the lump sum, less the 20%?
To the OP: Are you rolling it over or taking the lump sum, less the 20%?
UpstateNYUPSer(Ret)
Well-Known Member
Put the move on plastic and pay it off when your check arrives.
twoweeled
Well-Known Member
Funny how women will get involved in money management, outta the blue.
twoweeled
Well-Known Member
I'm not entirely sure what you said, but I think I got the jist of it. We all know, UPS never does anything "entirely" for the employee. UPS would have to be gaining some type of advantage from this buyout. That alone would make me apprehensive about accepting it.
If this is not what you addressed, just ignore my comment.
UpstateNYUPSer(Ret)
Well-Known Member
They are trying to shed a portion of their pension obligation ahead of an IRS actuarial change in the expected life expectancy.
twoweeled
Well-Known Member
twoweeled
Well-Known Member
Good deal Danny. Gotta have thick skin here. Today we laugh at you. A couple of months ago we were laughing at me! Welcome
twoweeled
Well-Known Member
If I stopped drinking, drugs, womanizing, nightlife and general carousing. I think I could probably make it to 90.
Who am I kidding? I'll take the buyout
UpstateNYUPSer(Ret)
Well-Known Member
We have a driver who does everything wrong. He drinks a 6 pack of Mtn Dew and eat 2 bags of chips every day while on road.
He will probably outlive us all.
He will probably outlive us all.
ups1990
Well-Known Member
We have a driver that keeps a family size bag of potato chips on the dash.
By The Book
Well-Known Member
"We were" sounds past tense....you did give me a good chuckle with the PCBT ordeal, lol.
I was employed for ten years and if I wait for retirement I would receive around $450 per month. I started the process to take the lump sum now after getting the post card in the mail, and it shows that I would receive $17,500.
I was ecstatic and ready to take this NOW, until the next screen told me that 20% would be taken out for Federal taxes, 10% for early withdraw, and since no state taxes are withheld, I could lose even more. This is
ing ridiculous. I could lose almost half of my lump sum because our government is a bunch of ing crooks.
Does anyone know how I can find out exactly how much will be stolen from me so that I can decide whether to take the money or not?
Oh yea... the government. They don't give a smilet about us.
I was ecstatic and ready to take this NOW, until the next screen told me that 20% would be taken out for Federal taxes, 10% for early withdraw, and since no state taxes are withheld, I could lose even more. This is
ing ridiculous. I could lose almost half of my lump sum because our government is a bunch of ing crooks. Does anyone know how I can find out exactly how much will be stolen from me so that I can decide whether to take the money or not?
Oh yea...
the government. They don't give a smilet about us.
D
So they give you the option to roll it over into an IRA?I was employed for ten years and if I wait for retirement I would receive around $450 per month. I started the process to take the lump sum now after getting the post card in the mail, and it shows that I would receive $17,500.
I was ecstatic and ready to take this NOW, until the next screen told me that 20% would be taken out for Federal taxes, 10% for early withdraw, and since no state taxes are withheld, I could lose even more. This is
Does anyone know how I can find out exactly how much will be stolen from me so that I can decide whether to take the money or not?
Oh yea...
rod
Retired 23 years
I was employed for ten years and if I wait for retirement I would receive around $450 per month. I started the process to take the lump sum now after getting the post card in the mail, and it shows that I would receive $17,500.
I was ecstatic and ready to take this NOW, until the next screen told me that 20% would be taken out for Federal taxes, 10% for early withdraw, and since no state taxes are withheld, I could lose even more. This is
Does anyone know how I can find out exactly how much will be stolen from me so that I can decide whether to take the money or not?
Oh yea...
Its the old pay me now or pay me later routine. The only way to avoid it is be in the same class as D. Trump or Clinton . If you don't like this I'm sure you will be thrilled to learn that they take taxes out of your Social Security check and Medicare payments are deducted from it also.
UpstateNYUPSer(Ret)
Well-Known Member
I was employed for ten years and if I wait for retirement I would receive around $450 per month. I started the process to take the lump sum now after getting the post card in the mail, and it shows that I would receive $17,500.
I was ecstatic and ready to take this NOW, until the next screen told me that 20% would be taken out for Federal taxes, 10% for early withdraw, and since no state taxes are withheld, I could lose even more. This is
Does anyone know how I can find out exactly how much will be stolen from me so that I can decide whether to take the money or not?
Oh yea...
20% would be $3,500.
10% would be $1,750.
State taxes are based on yoir individual state.
If you take the lump sum you can expect to lose up to $7,500.
Roll it over.
Catatonic
Nine Lives
Yes Otis,
Those 20% taxes are paid by you so you will most likely get some of it back after Uncle Sam has used it interest free.
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