UPS Special Pension Buyout Offer - December 2016

[Sleestack]

New to this site, just registered. I have been reading posts since the buyout happened. I actually called Mellon, and they said I was not in the system to be paid as of today. I then called ups payment center, and they said it was told by their supervisors that it would not happen until 12/15. They were also told that whatever payment some people have received earlier then this was not by them. Doesn't make sense...

 

[cbale33]

New to this site, just registered. I have been reading posts since the buyout happened. I actually called Mellon, and they said I was not in the system to be paid as of today. I then called ups payment center, and they said it was told by their supervisors that it would not happen until 12/15. They were also told that whatever payment some people have received earlier then this was not by them. Doesn't make sense...

How do you get in touch with Mellon and what department do I need to find out more?

 

[Carol Field]

I located this phone number for Mellon Bank 1-800-773-8919...not sure if it's correct, but give it a try. Let them know you are an ex-UPS employee waiting on a pension payout. It's all so confusing as to why they'd wait until 12/15 to start issuing payments. Especially since the paperwork they mailed us says the 855 number will be shut down on 12/30/16. Who will we call after 12/30/16 if we don't get our money or if monies sent are incorrect?

 

[Carol Field]

I'm planning a Christmas vacation to visit my son at his college. I'd like to get my payout now rather than after Christmas holiday. Just seems they need to get going with issuing payments to us right away!!! I'll be out of town for two weeks. Whomever is in charge of this payout isn't on the ball. It's the holiday season and nobody is just sitting at home during this time of year. They know this...they simply don't care.

 

[Gary Lyle]

New to this site, just registered. I have been reading posts since the buyout happened. I actually called Mellon, and they said I was not in the system to be paid as of today. I then called ups payment center, and they said it was told by their supervisors that it would not happen until 12/15. They were also told that whatever payment some people have received earlier then this was not by them. Doesn't make sense...

Interesting, maybe we have some storytellers on this page?

 

[Carol Field]

Ok...So my friend received it today via direct deposit (showed me) I however did not. I called today and was told that Mellon bank of NY has started releasing payments in batches. Also was told they will be doing this throughout the month up until Dec. 30

Did your friend actually show you a screen shot? Did he really get it already? I am hoping they mail my check ASAP.

 

[Carol Field]

Interesting, maybe we have some storytellers on this page?

Maybe they are telling the truth and the folks at the UPS pension payment office are confused. They were told to tell us 12/15 but why? Why that particular date? They have no explanation for us as to why...it's crazy!!!

 

[Gary Lyle]

So you would've waited til age 65? My point is if this offer wouldn't have came around all of you would've waited til 65. I'm sure you can wait a little longer,you'll just have too. For years all of you knew this money was only going to be available to you when you turned 65. Life goes on and now you want the money, which will be a whole lot less than if you'd of waited. It's your choice, do what you want to, but not long ago it wasn't a choice you had and life was just fine.

I would have waited until age 65 for $195 a month if the pension still had the money to pay me in 2026, but $25K right now sounds a whole lot better!

 

[Nomoturkey]

That was a made up date from people who were trying to process pension elections, but couldn't because people kept calling and asking when they would get their money. "Lets just tell everyone the 15th." Payment decision were made in Atlanta, not Dallas.

Just read this from Upseal (self explanatory) Also, the payment center that everyone calls is NOT the payment center...The Trustie in Atlanta is............and NO ONE can reach them.

 

[Tstorm]

I located this phone number for Mellon Bank 1-800-773-8919...not sure if it's correct, but give it a try. Let them know you are an ex-UPS employee waiting on a pension payout. It's all so confusing as to why they'd wait until 12/15 to start issuing payments. Especially since the paperwork they mailed us says the 855 number will be shut down on 12/30/16. Who will we call after 12/30/16 if we don't get our money or if monies sent are incorrect?

If you call that number they will tell you to call, 18552168048
I spoke to two different people. They both said my packet was done, and that the bank will start paying on the 15th

 

[Carol Field]

If you call that number they will tell you to call, 18552168048
I spoke to two different people. They both said my packet was done, and that the bank will start paying on the 15th

So only one person has been paid already? Wow...

 

[Upsea10]

Just read this from Upseal (self explanatory) Also, the payment center that everyone calls is NOT the payment center...The Trustie in Atlanta is............and NO ONE can reach them.

I was trying to be sarcastic and failed, obviously. I think we are all vultures, myself included, waiting for our turn to pick at some dead carcass. Maybe we are all on the Holodeck of the Enterprise and this whole payout isn't even real! "Beam me up brown."

 

[Nomoturkey]

I was trying to be sarcastic and failed, obviously. I think we are all vultures, myself included, waiting for our turn to pick at some dead carcass. Maybe we are all on the Holodeck of the Enterprise and this whole payout isn't even real! "Beam me up brown."

Funny LOL

 

[Tstorm]

So only one person has been paid already? Wow...

Yes, one random person on the internet who knows somebody who got paid. I am just sharing what the actual retirement center has said. Based on what the majority of us have heard, and putting aside secret meetings to come up with arbitrary dates, I plan on receiving my buyout between the 15th and the 31st.

 

[UpstateNYUPSer(Ret)]

Did your friend actually show you a screen shot? Did he really get it already? I am hoping they mail my check ASAP.

Mail? Really???

 

[UpstateNYUPSer(Ret)]

Were they specific on what order the direct deposits were going out? Or was it they were going to just start but in no particular order if that makes sense.

You mean like first come, first served?

 

[Nomoturkey]

Yes, one random person on the internet who knows somebody who got paid. I am just sharing what the actual retirement center has said. Based on what the majority of us have heard, and putting aside secret meetings to come up with arbitrary dates, I plan on receiving my buyout between the 15th and the 31st.

I do hope you realize all of us here have been talking to the same people who are NOT the people who are releasing the batches of payments that are going out each week. Hoping mine will be in next weeks batch

 

[Tstorm]

I do hope you realize all of us here have been talking to the same people who are NOT the people who are releasing the batches of payments that are going out each week. Hoping mine will be in next weeks batch

I do. That's why the lady I talked to said she did not have a specific day (she said they weren't the ones distributing), but she did say it would be between the 15th-31st. I have no reason to think she was just making stuff up.

Oh, and I also talked to Mellon bank. They just sent me back to the UPS retirement center

 

[kenman31]

You mean like first come, first served?

I am sure there is an order but first come fist served wouldnt be one of them. The payout information is transferred to the bank and the bank may start print and deposits based on a few logical items. 1. Employee ID 2. Social Security # 3. Amounts. However, I would assume all electronic deposits could be done at the same time.

 

[Tstorm]

*And there's actually a good chance it will be next week, since that's when we were told payments would start all along.