UPS Special Pension Buyout Offer - December 2016

[Shecoope]

Which part of "direct" deposit are you having difficulty with?

Well I called ups pension hotline today and they said by the 23rd of this month well do ups send our documents to the trustee

 

[Shecoope]

You only live once

Ima put mines up in savings

 

[IVE GOTTA PACKAGE 4U]

Ima put mines up in savings

Should have put it into an IRA!

 

[Shecoope]

Should have put it into an IRA!

I will look into one

 

[IVE GOTTA PACKAGE 4U]

I will look into one

Too late

You should have had the money directly rolled over.

 

[Shecoope]

Too late

You should have had the money directly rolled over.

Yeah your right but I can get a CD at a credit union

 

[IVE GOTTA PACKAGE 4U]

Yeah your right but I can get a CD at a credit union

But it's not an IRA

You only get a couple of chances in your lifetime where you get a little extra cash. Make the most of it.

 

[Shecoope]

But it's not an IRA

You only get a couple of chances in your lifetime where you get a little extra cash. Make the most of it.

This is the most money I’ve ever seen at one time I’m ready for it

 

[IVE GOTTA PACKAGE 4U]

This is the most money I’ve ever seen at one time I’m ready for it

No you aren't ready.

Good luck to you.

 

[Shecoope]

No you aren't ready.

Good luck to you.

I have a question so it shows on confirmation letter about the lump sum payout to me I wanted to know is that pretax or after tax the 20%

 

[IVE GOTTA PACKAGE 4U]

I have a question so it shows on confirmation letter about the lump sum payout to me I wanted to know is that pretax or after tax the 20%

You are getting taxed 20% like if you was getting a regular pay check.

If you would have rolled it over into an IRA they wouldn't have taken any taxes out and the Money could have been used for retirement.

 

[Shecoope]

You are getting taxed 20% like if you was getting a regular pay check.

If you would have rolled it over into an IRA they wouldn't have taken any taxes out and the Money could have been used for retirement
So my offer was $24,000 will they take 20% taxes out of that or did they already take it out

 

[UpstateNYUPSer(Ret)]

I have a question so it shows on confirmation letter about the lump sum payout to me I wanted to know is that pretax or after tax the 20%

Did you elect to have the 20% withheld?

 

[IVE GOTTA PACKAGE 4U]

Did you elect to have the 20% withheld?

20% is mandatory

TTKU

 

[upsbeernut]

Ima put mines up in savings

Good idea,

 

[Shecoope]

Good idea,

You getting lump sum or rollover

 

[burrheadd]

Yeah your right but I can get a CD at a credit union

screw all that

let’s go to Vegas

 

[Shecoope]

screw all that

let’s go to Vegas

Yes I wanna go to Miami

 

[burrheadd]

Yes I wanna go to Miami

Do it

South Beach or bust

 

[Shecoope]

Do it

South Beach or bust

Yes just waiting on that direct deposit to drop