IMO things are going to be more dynamic in the future. We are competing directly against hundreds of new hires per month at the airlines and the pool of total applicants is only so deep. I don’t think they will be able to be as selective in the future as they are now.

 

Sorry to constantly disagree with you recently but nothing in your post has changed for the last decade or more - it’s nothing more than the same optimistic BS, painting the same naive rosy picture you accused me of on the other thread. You, of all people, should know that the UPS Air district hiring team is simple minded, myopic, arrogant, and simply doesn’t have the foresight to be anywhere near as proactive as you suggest.

 

Just a heads up. I interviewed October 1st and have yet to hear anything.

 

First time pension user here.

what’s the deal with early out and pension. I’d like to be out at 50-55. I’m 34. So wouldn’t be able to put the full 30 in.how does that work at UPS?

 

Big picture…required to stay until 55…get ur appropriate percentage due….don't collect until 60…otherwise big penalties

 

Basically what Jetlaggy said. The pension has been set up using actuarial data to ensure that “on average”, no matter what pension option you take for a given number of years of work, you will receive the same number of dollars in retirement. It can get complicated fast dealing with survivor benefits, a guaranteed payout term, etc. You can start receiving pension benefits at 55, but they account for the five “extra” years you are likely to collect (plus extended lifespan of retiring young) by reducing your benefit. Most guys who go before 60 live off savings until 60 to avoid this.

The actual biggest obstacle to retirement at 55 is I don’t believe you can access your 401k and B plan money until 57.5 years old. Otherwise, a twenty year career is more than enough time to retire independently wealthy (not rich).

 

Realistically, what is the chances of either 12% or the pension coming off the table? I know anything is possible with this career but someone told me the pension is tied to management as well? Sorry if this has been covered before.

 

I would say no chance.

 

Never say never JMHO

 

Didn’t say never…it won’t last forever … i assumed he meant near term. Like this round of negotiations.