UPS Special Pension Buyout Offer - December 2016
- Thread starter JMR07168
- Start date
Clifton Williams
Active Member
Nope still stalking my account
Postitman36
Member
Greetings everyone...I'm new to this forum, but i worked for the evil empire for 14 years. PT and then combo shift FT. I was terminated late 2014.... I'm only 36 and this buyout, in my opinion is great. My retirement year is 2064 lmao...so i did the math and also used my common sense. Tomorrow is not promised to any of us, so I rolled over my option to a Traditional money market IRA...so the only penalty I will occur is a 10% early withdrawal. I feel like everyone is entitled to do as they please with their money. This offer is truly a blessing and i will be waiting patiently for my check. I will update any info I receive and may all of you current and former UPSers have a great day.
You and me both!!
Nomoturkey
Active Member
Nothing here...ok so are they releasing it tomorrow (take a couple of days to hit my bank) or are they releasing it today to be in my bank by tomorrow? All of these questions...so little answers lol
I'm thinking it should hit the bank tomorrow, at least I hope it does...
fishscale99
Active Member
Lets hope guys!
Nomoturkey
Active Member
Let
Let's all call Mellon bank of NY at the same time and ask lol ....... kidding
Don't tempt me!! LOL!Let
Let's all call Mellon bank of NY at the same time and ask lol ....... kidding
Blackmamba24
Member
I agree let's all call!!!
Well I called the UPS retirement number and they stated that they are releasing the payments tomorrow to the trustee Mellon, so hopefully ppl with DD will see theirs on friday. *fingers crossed and prayers up*
Oh yeah!!!!!!
Catatonic
Nine Lives
If you are rolling over to a Traditional IRA then you should not have a 10% penalty.
Have you considered the ROTH IRA? Which will impose some tax penalty.
You can do that after rolling over to your Trad IRA.
Carol Field
Active Member
If anyone receives their direct deposit or rollover check by tomorrow - please post. I'll be dancing on the moon if my check arrives by this weekend. Planning to go out of town for the holidays and waiting for this check will put a snag in my holiday vacation plans...hurry up Mellon Bank...send us our money!!!
I'll spike my tea until I see that $$$
yummy for my tummy.
I'll spike my tea until I see that $$$yummy for my tummy.. Get ready! Tomorrow is the day!!If anyone receives their direct deposit or rollover check by tomorrow - please post. I'll be dancing on the moon if my check arrives by this weekend. Planning to go out of town for the holidays and waiting for this check will put a snag in my holiday vacation plans...hurry up Mellon Bank...send us our money!!!
Nomoturkey's friend apparently got it last week. Surprisingly there was no mention of a letter prior.
So your retirement is 48 years from now? If you rolled it there is no penalty. Doesn't make sense.
olroadbeech
Happy Verified UPSer
hope people realize there are tax implications?
I believe some people should start seeing deposits starting tomorrow. These will probably be done in batches, but I believe they want to have Direct deposits Direct checks and roll over checks completed and mailed by the 22nd. Those of you who are doing a partial rollover the letter you received stated mailed by the 22nd. In any pay situations direct deposit are always the first to get pushed while checks are printed, sorted, sent to mail room and then picked up by the post office. This itself can be 2-3 day process. Those of you that have a sign in for the pension payout site keep an eye when STEP 5 lights up with a check mark "Get Paid".
It's shaping up to be the timeline we were told from the beginning. Imagine that, despite suggestions that the retirement center couldn't possibly know because they aren't Mellon. I'm betting that just about everyone who is getting a lump sum is eagerly staring at step 5 by now.
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