Ups teamsters pension plan

Discussion in 'UPS Freight' started by jacks, Jul 12, 2016.

  1. jacks

    jacks Member

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    does ups have an early out retirement plan,or do you have to have 25 years and be at least 57 years old to retire?
     
  2. cavscoutdad

    cavscoutdad Active Member

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    No early out. You can draw full benefit if you have 30 years service and you are 55 yrs old. No 25/57, but we do have a 25/60 plan.
     
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  3. UPS STONER

    UPS STONER Active Member

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    You can retire at 55, but you take a cut in pay. If you're 55 and 10 years service you take a 5% cut for 10 years that ='s a 50% cut. If you're 58 it's a 35% cut in pension pay. If you had 30 years its full pension...There is a different formula at 60.
     
  4. jdk1600

    jdk1600 Member

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    So if I retire at 62 with 20 years in what is my payout?
     
  5. cavscoutdad

    cavscoutdad Active Member

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    Under the present contract you could retire with $2100.oo minus 9% per month. There is a 3%reduction for every year under age 65,as long as you are over 60 when you retire. If you retire and you are 60 and have 25 yrs service, you receive full benefits with no deduction.
     
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  6. jdk1600

    jdk1600 Member

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    Thank you!
     
  7. speedy263

    speedy263 New Member

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    25 and out at any age with local 804
     
  8. cavscoutdad

    cavscoutdad Active Member

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    If you work for UPS Freight there is no 25 and out unless you are 60 yrs old and have 25 years service. Our pension is the same in each local, nationwide.
     

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