That's what Mrs Breeze says when she scrubs the bathroom floor....lolThank goodness he doesn't have good aim!
That's what Mrs Breeze says when she scrubs the bathroom floor....lolThank goodness he doesn't have good aim!
Never said I was going to fully retire, I just hate working for the Company I am employed by. Its time to move on, I just want to get all the monies I have coming to me. Holding back pension for 1 or more months just seems wrong. I bet when Hoffa Jr. Moved on, He did'nt have to wait for his moneyThe union has nothing to do with pension funds. I got everything I had coming. If you can't survive two months without a check, you can't afford to retire
If I want to retire June 30th, The Union Hall tells me I wont get a Pension check until August 1st. This doesnt sound right to me...
the pension has a 1 month waiting period for early retirees to insure that you are fully retired before releasing your pension payments, if I remember correctly. This is to protect the seniority roster from subtrafuge, ie, retiring and returning to work with your seniority intact. You can return to work as a casual if the company agrees, but you are under strict hours of service per month rules until you reach 65. Violate the strict hrs/month rule and you lose your check for that month. Ask me how I know that. After 65, you can retire and keep working with your seniority as the pension must allow you to retire regardless after 65. We had 1 driver do exactly that. I retired at 62 and found out that the insurance premium for the retirees was escalating so fast it was killing me, so ABF allowed me to come back and work enough as a casual to get my Teamster insurance/ pension package paid for myself and my wife until we both hit medicare, for which I was profoundly grateful. They saved me many thousands of dollars in insurance premiums. Also, if you work 750/hrs or more per year, your pension will increase by about $60.00/month per 750 hr increment payable immediately. I was able to add about $550.00 /month doing that. Plan carefully if you go early. ABF saved my bacon, and I will always be grateful for that. If the TM asks if you want him to leave your employee info in the computer, say yes, don't burn any bridges just in case. They had to completely rehire me, including the check-ride. The safety man had to come to Ontario from Portland to do that. We both got a chuckle out of that. We took a set of triples up the freeway to the first off ramp and turned around and went back. This was in the western conference fund. Yours might be different, so ask. BTW: The retiree insurance premiums went from about 200.00/month to almost 550.00 month so quick it gave me a nosebleed. I asked them why, and she said" Well, we have a small pool of retirees in the plan and 4 of them hit their million/ dollar limit this year, so everyone has to pay more." Like I said, PLAN CAREFULLY!If I want to retire June 30th, The Union Hall tells me I wont get a Pension check until August 1st. This doesnt sound right to me...
Actually, those people have about 6 fully vested pension funds that they draw from courtesy of all of us, and no, they don't have to wait.... It's like George Carlin said " it's a big club, and you ain't in it...." Oh, and it doesn't end with their death like ours. It is more like a 401k if I remember right.Never said I was going to fully retire, I just hate working for the Company I am employed by. Its time to move on, I just want to get all the monies I have coming to me. Holding back pension for 1 or more months just seems wrong. I bet when Hoffa Jr. Moved on, He did'nt have to wait for his money
That's because the union was checking with their lawyers to see if they could find a loophole to beat you out of it, RB. Did that first check have any tear stains on it from Hoffa while he was signing it? OK, I'm sorry....What doesn't sound right?
Your employer pays you for June. The pension fund pays you for July. It can't be any faster than that.
I retired with time in two different funds. I got all the money I had coming but it took three months to get my first checks.
Aw, crap! Really? 30 to 1? That reminds me, I need to get my will updated.Of course, because nobody pays until you put in the time. They don't pay ahead because the odds are 30-1 that you will die before the end of the month.
I think, if I remember correctly, that the 1 month wait to confirm severance of employment is retroactive to your retirement date, so you do get a retroactive check later. What screwed me up when I went back to work a couple of months later as a casual was I was calculating my hours to stay under my allowable hours to avoid suspension of benefits under the old rules, and neither I nor the pension office knew they had changed the calculation formula under the new contract that had just passed and I found out that I was over hours for 2 months! That was a $7,700 hit that I had to pay back! I learned that from payroll in Ft Smith. So I did, and I wrote a letter of protest to the pension office explaining what happened and that the pension office wasn't even aware of it until I told them. They said they were sorry, but I was hosed, so to speak. And then on April 15 th of the following year I get a letter in the mail informing me that the pension administrator had reviewed my case and agreed with me and they would refund my pension money plus interest, which was like 400.00. But don't make that mistake again. I never did. But it took me a week to get the smile off my face...Blade, I don't know what funds you are in, but all I can tell you is my experience with CSPF. I just checked my file, and my official quit date was Nov 26th, the check I got from CSPF was dated Dec 14th. This tells me that the check I got in December was retroactive back to Dec 1st
(my retirement date), and my benefit payment for December. Than two weeks later, the 1st of January, I received another check and every month since. So what this tells me is that I do get paid in advance. If what you say is true, then why did I receive a check in the middle of December? Less than three weeks after I resigned.