when to get print out?

[fishtm2001]

In the west this is typical. You can "double dip" by collecting pension on the first non working month whether it's a vacation or complete separation from employment. We are paid in multiple one week checks that hit your bank all at once but as individual checks. Your healthcare SHOULD be paid through the end of your vacay, actually technically 2 months past you last month of at least 40 vacay hrs. I say should, as I know this has been reneged on by UPS when they know the driver is actually retiring, not just stacking several vacay weeks. Check with your BA, I'm not sure this applies exactly the same in your area. It's been done here for many years.

 

[fishtm2001]

Thanks, I will be checking with someone (maybe a call to Atlanta) as I get conflicting answers in my center.

 

[MC4YOU2]

What if the retiree changes his/her mind while on vacation? Would they have to return any pension payments received?




It's never happened here. I'd imagine it would be very difficult to change your mind, as your vacay is just a technicality. So many papers have been processed on your behalf by then, I doubt you could go back. And also by then, who would want to?


Resident know-it-all.

 

[UpstateNYUPSer(Ret)]

I had an on-car tell me they don't post a bid on the retiree's area until they have taken all of their vacations "just in case they change their minds".

25 years in and I have yet to see anyone change their minds and come back.


Resident know-it-all.

 

[purplesky]

I have a question about vacation pay at retirement. I plan on leaving June 1 2015 and am wondering if I can sign up for all my vacation weeks starting then. I may want that big check in retirement for a trip to Ireland as opposed to actually taking the weeks in the spring. I know other Teamsters do this but have been told UPS won't allow it. Thanks

If you are worried about using your vacation paychecks to start your retirement and go to Ireland you aren't ready to retire? No offense.

So you don't have a HUGE emergency fund going into retirement? Plus immediate access to retirement cash?

Why not start a "Go to Ireland" savings account at a credit union and save for it now?

This way you can relax and retire with dignity without any money worries before your pension check arrives.

 

[UpstateNYUPSer(Ret)]

I plan on buying myself a nice present when I retire and hope to use the profits from my Apple stock to pay for it. I can see where the $5-6K would more than pay for his trip.


Resident know-it-all.

 

[purplesky]

We are not all independently wealthy.


Resident know-it-all.

If somebody is using their vacation checks to cover the wait time for their first pension check then that person might want to take a hard look at working longer?

Retiring is about financial independence. You don't have to be wealthy but you should have financial independence.

 

[UpstateNYUPSer(Ret)]

Absolutely but is there anything wrong with taking some of that money and treating yourself to a nice retirement present?


Resident know-it-all.

 

[purplesky]

I plan on buying myself a nice present when I retire and hope to use the profits from my Apple stock to pay for it. I can see where the $5-6K would more than pay for his trip.


Resident know-it-all.

Why not buy more Apple(increase your position) and other stocks that pay dividends and build a long term portfolio?

You will build wealth over time if you can keep your stocks long term.

Use your pension income to celebrate retirement? The pension will allow you to let your stocks grow and work for you over time.

He should already have money set aside for trips to Europe in retirement?

Maybe his vacation pay is icing on the cake? But the cake is retirement savings which should be ready to eat that last time you walkout the guard shack?

 

[purplesky]

Absolutely but is there anything wrong with taking some of that money and treating yourself to a nice retirement present?


Resident know-it-all.

I agree. I am just hoping he isn't relying on vacation pay to go into retirement.

He probably is fine.

 

[UpstateNYUPSer(Ret)]

I agree. I am just hoping he isn't relying on vacation pay to go into retirement.

He probably is fine.

If he is relying on that pay to tide him over he should probably keep working.

My Apple holdings are in my 401k. I do plan on this as a long-term investment. I was a bit apprehensive about the purchase---$50K is a lot of money---but I think I'll be OK.


Resident know-it-all.

 

[fishtm2001]

If somebody is using their vacation checks to cover the wait time for their first pension check then that person might want to take a hard look at working longer?

Retiring is about financial independence. You don't have to be wealthy but you should have financial independence.

Who is talking about "using their vacation checks to cover the wait time for their first pension check"?

 

[purplesky]

Who is talking about "using their vacation checks to cover the wait time for their first pension check"?

It sounded like you might be depending on those final vacation checks to go to Ireland when you start your retirement.

I was just pointing out that having a huge cash emergency fund going into retirement is a good idea so you don't have to touch stock investments right away?

You probably have 1 million saved for all I know?

 

[UpstateNYUPSer(Ret)]

He is buying himself a retirement present. Nothing wrong with that---I plan on doing the same.


Resident know-it-all.

 

[purplesky]

He is buying himself a retirement present. Nothing wrong with that---I plan on doing the same.


Resident know-it-all.

The gift to himself isn't the problem. Its how he might be paying for it.

 

[UpstateNYUPSer(Ret)]

The gift to himself isn't the problem. Its how he might be paying for it.

I've got well over $100K in my 401k and a $5K/month pension waiting for me. I see what you are saying but it is really none of your concern. If I want to take my vacation checks and buy myself a present I will do it.

 

[brownmonster]

Dave, you and I are on the same retirement schedule. What would you get if you left a year early? If I go the full 30 at age 58 I'm looking at 3300. If I leave a year early its about 3150. Im thinking see ya at 57.

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[purplesky]

I've got well over $100K in my 401k and a $5K/month pension waiting for me. I see what you are saying but it is really none of your concern. If I want to take my vacation checks and buy myself a present I will do it.

Obviously you are planning very well for your retirement Upstate and you always give solid advice.

My point is this. When any of us Upsers retire from UPS we have had 20 to 30 years to plan for that day?
So 7 weeks of vacation pay should not effect anybody's retirement plans at all?

The vacation pay just goes into the retirement buckets with all the other money saved.

Its only about $6k anyway? Thats just not a lot of money.

 

[purplesky]

I've got well over $100K in my 401k and a $5K/month pension waiting for me. I see what you are saying but it is really none of your concern. If I want to take my vacation checks and buy myself a present I will do it.

Upstate you should buy a present. Buy that car.

 

[purplesky]

Dave, you and I are on the same retirement schedule. What would you get if you left a year early? If I go the full 30 at age 58 I'm looking at 3300. If I leave a year early its about 3150. Im thinking see ya at 57.

Sent using BrownCafe App

Just knowing you can leave during that last year if you want to will be nice.