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<blockquote data-quote="Cezanne" data-source="post: 260311" data-attributes="member: 5104"><p>Just got hold of a informational sheet about this new IBT/UPS pension plan.&nbsp; Everybody in the Central States area was under the assumption that those years were paid at 55 or 60 dollars per service year, truth is that they are paid under the old formula of a percentage of a standard thirty year pension at the level when you left the UPS Pension Plan to go full time.&nbsp; For example; if you have 10 years part time that would equal 1/3&nbsp; of roughly 1,000, about 330 dollars, you would then add that to your full time years to get a set pension benefit.&nbsp; The problem with that is that back in the late seventies the part time pension plan was paying less than it is today, so your credit for those part time years will be less.&nbsp; From my understanding nothing was mentioned about the 6 percent deduction for every year prior to age 65, which was in place prior to these negotiations.</p></blockquote><p></p>

[QUOTE="Cezanne, post: 260311, member: 5104"] Just got hold of a informational sheet about this new IBT/UPS pension plan. Everybody in the Central States area was under the assumption that those years were paid at 55 or 60 dollars per service year, truth is that they are paid under the old formula of a percentage of a standard thirty year pension at the level when you left the UPS Pension Plan to go full time. For example; if you have 10 years part time that would equal 1/3 of roughly 1,000, about 330 dollars, you would then add that to your full time years to get a set pension benefit. The problem with that is that back in the late seventies the part time pension plan was paying less than it is today, so your credit for those part time years will be less. From my understanding nothing was mentioned about the 6 percent deduction for every year prior to age 65, which was in place prior to these negotiations. [/QUOTE]

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