TForce | Pension question

CFer

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I've seen it mentioned here before that once SS payments kick in that your pension is reduced by the same amount as your SS payments so your monthly income remains the same.

Can anyone from UPSF please verify one way or another if this is true?
 
Come on guys. 28 people have read this post and not one reply. This is where I first read about it so somebody must know something
 
CFer said:
Come on guys. 28 people have read this post and not one reply. This is where I first read about it so somebody must know something
Is that Union Pension, Overnite pension or Motor Cargo Pension ?
 
as far as I can tell CFer, the pension and the SS payments are separate entities....the only money adjustment that I know of is you are drawing disability and SS,the SS goes down ina direct proportion to the dis.
 
CFer said:
Come on guys. 28 people have read this post and not one reply. This is where I first read about it so somebody must know something
Shocking there is no answer.......The "GOLDEN CARROT" that no one knows what it is......CFer did I not pose this same question with the same results....Thought maybe it was just me, but thanks for showing that is was not just a dislike for me.....
 
And they all seem to be so worried about a Teamster pension. Go figure.

CFer,

I thought I saw posted on a few occasions that the O pension was $3000 a year and that when SS kicked in the O pension was reduced by the amount of SS, thus giving the retiree the same $3000 every month. By the way, don't know about anyone else's local, but mine gives out 13 checks...(2 in December).
 
pension is as follows....1.725x average of best 5 years of service x years of service..divide by 12...there's your monthly check...not reduced when SS kicks in........works out to 31% of your best average for the 5 year period
 
Let's see if my brain is working. Say a driver averages $75,000 per year and works 25 years. He average monthly retirement would be @ $2695.31?
 
bad habit said:
pension is as follows....1.725x average of best 5 years of service x years of service..divide by 12...there's your monthly check...not reduced when SS kicks in........works out to 31% of your best average for the 5 year period
Bad habit does the company have this Info as far as your best 5 yrs. of service?
 
bad habit said:
pension is as follows....1.725x average of best 5 years of service x years of service..divide by 12...there's your monthly check...not reduced when SS kicks in........works out to 31% of your best average for the 5 year period
We are getting closer....Now we need some real life figures and I'm listening.....
 
The answer is it is still the same pension just the funds are managed as one.(ex if you went to the bank with one-thousand dollars to invest it you would not get much out of it but if you went to the bank and had one million to invest you get a better rate. As far as deducting ss from our pension that is a NO. If you earn three thousand and you are getting ss, you get three thousand plus your ss.
 
Under O's plan there were several options you could choose from.
1. There was the straight plan. You would collect x amount for life with no changes.
2. Then there was the straight plan where you get x amount minus about 15-20% less money but with survivor benifits for your wife.
3. There was a social security plan in which you got more money per month untill you started getting social security then your check would be reduced by your social security amount.
4. There was another where you retired at 55 x amount plus double the money and when you started getting your social security it stoped all togeather.
Only UPS Freight Human Resources knows for sure!!!! or do they ????????????
 
i sat in 2 meetings this week, one exec said the pension is 107% funded and the other said it is 103.3% funded. big difference.
 
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