UPS Special Pension Buyout Offer - December 2016

Carol Field

Active Member
The letter said checks would be mailed no later than 12/22/16. So, it appears as if we won't see these darn rollover checks until that date...I guess we should stop checking our mailboxes until the 22nd. Since we asked for a rollover, we are totally being forced to wait 7-10 days for the darn check. Oh well...I'm done waiting, back to work. I'm sure we should see the check before New Years! It's snail mail at it's best.:-)
 
The letter said checks would be mailed no later than 12/22/16. So, it appears as if we won't see these darn rollover checks until that date...I guess we should stop checking our mailboxes until the 22nd. Since we asked for a rollover, we are totally being forced to wait 7-10 days for the darn check. Oh well...I'm done waiting, back to work. I'm sure we should see the check before New Years! It's snail mail at it's best.:-)
I called Mellon Just now they said they were mailed on the 15th
 

Junkguy

Active Member
I would think that if they do not get the desired results that they would extend the deadline.

Keep in mind that this buyout was in response to changes by the IRS to the age used to calculate pension payments, which are to go in to effect on 1/1/17, so the "drop dead" date would have to be 12/31/16.

Missing the deadline may have been one of the best mistakes that you have ever made.
I've heard rumors of another round depending on the results of this one but after the first of the year the present value of the pensions will actually go down as life expectancy goes up so it may be a bit less. One never knows though. You should write a certified letter to the office in Atlanta and see what happens. All they can do is say no. The folks that handled the buyout were contracted and didn't have authority to change anything from what UPS gave them originally. My DP came in yesterday. I know it benefited them more than me but frankly I'm glad to be done with them. I fought for the part time years for 25 years after starting driving and it was the biggest factor in my understanding of how in bed the union and the company are o issues that benefit them and screw the worker. Good luck to you. It might be your last time to raise hell with them, enjoy it!
 

olroadbeech

Happy Verified UPSer
I've heard rumors of another round depending on the results of this one but after the first of the year the present value of the pensions will actually go down as life expectancy goes up so it may be a bit less. One never knows though. You should write a certified letter to the office in Atlanta and see what happens. All they can do is say no. The folks that handled the buyout were contracted and didn't have authority to change anything from what UPS gave them originally. My DP came in yesterday. I know it benefited them more than me but frankly I'm glad to be done with them. I fought for the part time years for 25 years after starting driving and it was the biggest factor in my understanding of how in bed the union and the company are o issues that benefit them and screw the worker. Good luck to you. It might be your last time to raise hell with them, enjoy it!
UPS does not do anything unless it will benefit them .....and the shareholders which I am one. $527 was my last quarterly dividend check, which was reinvested.
 

Leah Medeiros

Active Member
Not today !!! Taxed this year for money used for next year. I am sorry I had not signed up for direct deposit. I was undergoing major surgery during the sign up for this and opted for a check. Not thinking it would take so long . I began receiving information to update address through 3rd party . I received ups packet first week of Oct. Next couple days was in hospital and completed it on line. Did not have bank info so I said send check. Big mistake.
 

Leah Medeiros

Active Member
Any one other than me still waiting on direct deposit?...anyone know if they are depositing only on Thursdays???
Did you call? You can call direct the number was listed the other day . The department will ask for social and will give info weather it's been processed or not. Mine was mailed but not delivered today. Sucks to wait
 
Top