UPS Special Pension Buyout Offer - December 2016

[ccampbell]

i have navy federal and just checked my account and got my deposit

 

[ccampbell]

also website did not show get paid ....but i definitely did

 

[Postitman36]

UPDATE: For those who opted to rollover their benefit into an IRA account, most of the checks were mailed today. Another wave of checks will go next week. Hope this helps!

 

[Blackmamba24]

If you're eleceted DD I would check your bank to see if there are any pending deposits to your account.

 

[Magnolia69]

i have navy federal and just checked my account and got my deposit

I'm happy and jealous at the same time

 

[srvand02]

Does anyone know if taxes have already been taken out of the amount that will be directly deposited?

 

[ccampbell]

20

 

[ccampbell]

20 percent has been taken out

 

[Tstorm]

Does anyone know if taxes have already been taken out of the amount that will be directly deposited?

The last letter I received that the 20% would be taken out

 

[Postitman36]

I'm happy and jealous at the same time

Ditto...lol

 

[kenman31]

Yes...20% is the mandatory deduction

Does anyone know if taxes have already been taken out of the amount that will be directly deposited?

 

[srvand02]

What about the 10% for being under 59 1/2? Will that be taxed with the 20% now as well? Or will I have to pay that in 2017 when I file?

 

[AJ73]

just checked my account and got mine for my part time pension now waiting on my full time to be deposited

 

[Postitman36]

What about the 10% for being under 59 1/2? Will that be taxed with the 20% now as well? Or will I have to pay that in 2017 when I file?

Yes... you have to report your benefit income on this year's taxes and in return will receive a 10% penalty

 

[Blackmamba24]

Just checked and received my DD.

 

[QuietTee]

I just checked my acct and recieved my payout!!!

 

[QuietTee]

Oh by the way I also checked the status and there's no green check off

 

[Carol Field]

I'm happy everyone received their pension direct deposits today...Have a safe and Happy Holiday! I will post when check is in hand.Happy shopping!!!

 

[paraeric]

not yet but fingers crossed

 

[Rebecca2008]

Mine posted in bank 15 minutes ago!!!! They took the standard 20%