No I’m not annoying
UPS Special Pension Buyout Offer - December 2016
- Thread starter JMR07168
- Start date
Might go by alphabetical order?
My last name begins with C
burrheadd
KING Of GIFS
hope they have your correct address
I’m actually getting direct deposit
When did you complete your election
UpstateNYUPSer(Ret)
Well-Known Member
Before. It will be taken out by the company and forwarded to the IRS to be held in your account. You will put it on your 1040 and will most likely get most of it back as part of your refund. The 10% penalty is gone-----you will not get any of that back.
Spoke w/ rep.@ ups special pension dept., on 12/13/19, 18552168048,was told by 2 rep. that DD would be disbursed ON 12/23/19, NOT B4 per supervisor( I have not received email/letter that others received on 11/28/19), also spoke with 2rep.@ bny Mellon 18006347936/18004180273/18006434442, not in system @this time due to UPS has not sent info., even though my status is complete, still too early, So check after the 12/16/19 to see if your ss# is in system with BNY MELLON to be processed for DD/mail payment. Hope this info helps others and if anyone receive payment through DD B4 12/23/19 please share. Hopefully anyone waiting for checks via mail, it comes b4 12/23/19 or 1/2020, hell we all know how behind Ups, fedex,USPS can get, you would think ETA would week or 2 early, thought I share.
Ups told by by the 23rd it could be next week I doubt that they wait till the 23 to actually direct deposit them
Are you also receiving a lump sumSo they're going to send the DD a day b4 all banks close for two days. I swear UPS still finds ways to run ya through the ringer. Thanks Mimia25 for the info.
Gipsee
Well-Known Member
I think they may wait until that day because remember management(salary folks that were in this plan) only get paid once a month. I hated getting paid on the 26th of every month. Anywho that is what they are used to....putting it in one file for transfer to ADP so why would this be different.
UpstateNYUPSer(Ret)
Well-Known Member
So they're going to send the DD a day b4 all banks close for two days. I swear UPS still finds ways to run ya through the ringer
Would you prefer that they send you a check? The funds will be in your account on the 23rd. If you need cash go to an ATM.
So since the 23rd is on a Monday when do you think it should start showing up in bank accounts the same day or the 26thI think they may wait until that day because remember management(salary folks that were in this plan) only get paid once a month. I hated getting paid on the 26th of every month. Anywho that is what they are used to....putting it in one file for transfer to ADP so why would this be different.
I don’t know the processing times for direct deposit they may say the 23rd but it could be the 26 before we start seeing it in our accounts
UpstateNYUPSer(Ret)
Well-Known Member
How are you currently being paid? Do you receive a paper check or is your check direct deposited? If it is the latter, how long does it take for those funds to show up in your account? Same day---right? That is the beauty of direct deposit-----the bank knows that the funds are there and this is why they are credited to your account on the same day.
This direct deposit will work the same way.
Well I have had a prepaid card before and how come with prepaid cards you get paid two days early where as most banks you get paid Friday for example I’ve had the American Express serve card and soon as the employer releases the funds it’s deposited in your account where as my current bank Wells Fargo waits till Friday morning to post to the account
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