UPS retirement
09-13-2024 | 06:45 PM
#11
Line Holder
Joined: Dec 2014
Posts: 230
Likes: 22
tnk is right. To earn the Captain pension one must fly the revenue flight that is usually your “Release to the Line”.
The First Officer pension has the same vesting rules. In the TA extension the “A” plan flat dollar amount is multiplied by years of service. 1 through 30, when it is maxed out.
In the TA extension (2) those First Officer flat-dollar amounts were also increased to this amount multiplied by years of service:
January 2024-Captain $4525 Multiplied by YOS
First Officers $3620 X’s YOS
January 2025- Captain $4650 X’s YOS
First Officers $3720 X’s YOS.
If a crew member for whatever reason retires as a First Officer and retirees at or beyond the full-retirement age of 60 they are eligible for the flat-dollar “A” plan retirement.
Inflation concerns are all valid in my opinion but I am thankful that this leg of my retirement along with my 401k, Roth 401k, “B” Plan retirement fund (12% of earnings up to IRS limits)…full disclosure we do not get “cash over cap…
…are all there to fund my retirement. Thank you EB.
The First Officer pension has the same vesting rules. In the TA extension the “A” plan flat dollar amount is multiplied by years of service. 1 through 30, when it is maxed out.
In the TA extension (2) those First Officer flat-dollar amounts were also increased to this amount multiplied by years of service:
January 2024-Captain $4525 Multiplied by YOS
First Officers $3620 X’s YOS
January 2025- Captain $4650 X’s YOS
First Officers $3720 X’s YOS.
If a crew member for whatever reason retires as a First Officer and retirees at or beyond the full-retirement age of 60 they are eligible for the flat-dollar “A” plan retirement.
Inflation concerns are all valid in my opinion but I am thankful that this leg of my retirement along with my 401k, Roth 401k, “B” Plan retirement fund (12% of earnings up to IRS limits)…full disclosure we do not get “cash over cap…
…are all there to fund my retirement. Thank you EB.
09-13-2024 | 06:47 PM
#12
Doing One Pilot's Job
Joined: Sep 2005
Posts: 7,883
Likes: 119
09-14-2024 | 05:50 AM
#13
Line Holder
Joined: Dec 2014
Posts: 230
Likes: 22
Thanks for the response. I assume by that if you don't make to 55 you lose that benefit.
09-14-2024 | 07:25 AM
#14
On Reserve
Joined: Jul 2012
Posts: 19
Likes: 0
You don’t lose the benefit once you’re vested and I don’t remember exactly, but one is either immediately vested or vested after completing 1 yr of service. What would happen if you quit before age 55 is you would receive nothing until your chosen retirement age, that being 55 to 60. The formula for FAE would be used.
06-29-2025 | 02:34 PM
#16
On Reserve
Joined: May 2025
Posts: 11
Likes: 0
06-30-2025 | 05:48 AM
#17
Line Holder
Joined: Dec 2005
Posts: 673
Likes: 5
06-30-2025 | 10:23 AM
#20
Doing One Pilot's Job
Joined: Sep 2005
Posts: 7,883
Likes: 119
The world looks a lot different than the passenger carrier bankruptices of the naughts. UPS pilot pensions are tied to UPS management pensions, are well funded and bankruptcy law has been reformed.
"never day never" but the day UPS declares bankrupt I anticipate the world will have bigger issues...
(We currently get a 12% DC alongside the defined benefit pension)
Thread
Thread Starter
Forum
Replies
Last Post
