Will I get a pension for working part time?

[3838373]

I always made sure of the 750 except in my last year I was out on disability. A pretty good gig since my full time job is at a desk.Going to the office and getting a disability check! Typing with a broken wrist is a bit hard though.

what happens with your next years vacation, sick, personal days if you dont hit that 750? say you get like 700 hours

 

[Shiftless]

Hello there UPSers!

I started at UPS this past May 2020 and I have a important question, while I looked over the contract and saw as a part time you get so much credits of service for hours worked and it talks about a pension I was wondering if I would get a pension from UPS/the union?

Here are a little facts. I will work more than 750 hours for this year so no worries there as I aw that is the number of hours needed for 1 year of credit. I live and work in Texas, the Red River district I am currently 40 years old, will be 41 this next week. I plan on staying at UPS 15-20 years and for now plan on staying in part time roles as I do things on the side. I saw where it stated you must be at UPS 5 years to be vested. With that said if I stay part time and say I have 15 accredited years of service and say I retire at age 55. At that point would i get a pension? Do I get health insurance as well? How much would I get for a pension saying I have 15 years of service? It looks like something like $60 per month for every year worked. which comes out to something like $60x15= $900 a month for working 15 years.

Just trying to plan a little for the future.

Please let me know how all this works. At the end of the day each and every penny helps. I have been laid off three times in the last four years and that is why I chose to work at UPS. I need benefits for my family, plus a job and I was looking at extra money in the future as a good thing.

GOOD FOR YOU! Planning an exit strategy for when you get to the point you want to retire at your discretion!

Not many do, most just exist and wonder what happened when the time comes to retire and realize they screwed the pooch! Now they realize they have to work many more years than planned. Sure, you can't predict life events that get in the way, but not preparing at an early age and making it a part of your life to prepare for that eventual timeline event is costly!

Congrats on seeing down the road. There is truth in "Getting the Big Picture" they say! Just make sure your retired day's are included!

 

[PT Stewie]

what happens with your next years vacation, sick, personal days if you dont hit that 750? say you get like 700 hours

3/4 credit or $45. for that year. 23 pt. and retired last July .$1100.in my account the first of every month !

 

[Rarefish383]

Hey guys, I'm probably wrong, but better safe than sorry. Make sure all the vacation, optional and sick time counts. I was lucky and got hired FT off the street in 86 so I'm pretty up on that. One of our FT preloaders that was maxed out on vacation started taking all 6 weeks in a row, all of July and half of August. He was diabetic and had a bunch of other health issues. The first time he took all 6 weeks in a row, he ran out of health coverage. Turns out the company did not pay into health when you are on vacation. He worked 34 years, and after that first year, he had to send a bundle down to Union hall to stay current. Pay stubs still have your running total of hours on them don't they? Just pay attention. You work too hard to lose a dime over a couple hour glitch.

 

[IVE GOTTA PACKAGE 4U]

Hey guys, I'm probably wrong, but better safe than sorry. Make sure all the vacation, optional and sick time counts. I was lucky and got hired FT off the street in 86 so I'm pretty up on that. One of our FT preloaders that was maxed out on vacation started taking all 6 weeks in a row, all of July and half of August. He was diabetic and had a bunch of other health issues. The first time he took all 6 weeks in a row, he ran out of health coverage. Turns out the company did not pay into health when you are on vacation. He worked 34 years, and after that first year, he had to send a bundle down to Union hall to stay current. Pay stubs still have your running total of hours on them don't they? Just pay attention. You work too hard to lose a dime over a couple hour glitch.

I don't know why they would The company would not pay for health care while you're on vacation, that doesn't make any sense

 

[Rarefish383]

Some one above said doing the requisite hours was easy because all of the vacation time etc counted. I just didn't think that was accurate, so was throwing up the warning. I think I had to work 37 weeks to get credit for a full year on my FT pension. Worked till the last day of October and had my first pension check Nov.1. I switched operations before my first weeks vacation. The new center didn't have my bid list so I worked straight threw till I retired and they paid me for all my due time for that year, and all of my accrued time for the next year. I screwed up and forgot to stop my 401, stock, and United Way. Then because they were not worked for hours, they get taxed at a higher rate. They wiped me out. Got it back at tax time, but I wanted the money to put my Cuda in the restoration shop. Didn't happen.

 

[fishtm2001]

Assuming Rod is wrong and UPS is still around then yes, you will get a pension but you can't start collecting it til you're 65.

I think we can safely assume that Rod is wrong.

 

[ScottJones40]

I start to work at UPS October 20, 1998, and 3 years I did not get my 750 hours, so I am short now its 19 years not 23. I was in a bad car accident and has been out on disability for 1 year and it do not look like I would not be able to return back to work anytime soon. I would like to know how much retirement pension would it be basic on 19 years of credit service.

 

[IVE GOTTA PACKAGE 4U]

I start to work at UPS October 20, 1998, and 3 years I did not get my 750 hours, so I am short now its 19 years not 23. I was in a bad car accident and has been out on disability for 1 year and it do not look like I would not be able to return back to work anytime soon. I would like to know how much retirement pension would it be basic on 19 years of credit service.

Maybe some more around $900 a month at age 65

 

[burrheadd]

Thanks for the help. I emailed the union lady back and told her. She said that was crazy and is having me talk with someone else. When I called the number yesterday and spoke with UPS I even gave her my employee Id number. I could tell she could of cared less. Thanks for the advice. Glad to hear something will be there. With that said I do not plan on working till i am 65 as I want to retire long before that. Goal is 60 from what I gather if you retire with less time the amount is discounted a few points each year.

She’s pissed because you as a part timer walked into a pension
Where as she just lost hers
Can’t say I blame her for being pissed

 

[burrheadd]

I start to work at UPS October 20, 1998, and 3 years I did not get my 750 hours, so I am short now its 19 years not 23. I was in a bad car accident and has been out on disability for 1 year and it do not look like I would not be able to return back to work anytime soon. I would like to know how much retirement pension would it be basic on 19 years of credit service.

Scot this would be a good question to ask whomever manages your pension

nobody here can answer with any certainty

 

[IVE GOTTA PACKAGE 4U]

She’s pissed because you as a part timer walked into a pension
Where as she just lost hers
Can’t say I blame her for being pissed

I believe the number is 6% a year before age 65

 

[DELACROIX]

I start to work at UPS October 20, 1998, and 3 years I did not get my 750 hours, so I am short now its 19 years not 23. I was in a bad car accident and has been out on disability for 1 year and it do not look like I would not be able to return back to work anytime soon. I would like to know how much retirement pension would it be basic on 19 years of credit service.

2/3 of a 30 year pension (1800) = 1200... subtract 6% for every year prior to you turning 65 from that total.

Presuming you are 45.. if you decide to collect now you will probably get nothing...if you wait till age 55 you will clear about 700.

All the time that you are on disability does not credit your pension vesting also.

 

[ItsJustMeAfter23]

This coming from a guy who someday will post that he collected the pension for more years than he worked. And i for one hope you do Rod.

That’s awesome. Love that comment. Made my day. Great attitude.