Years of service for retirement
01-02-2017 | 12:56 PM
#1
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Years of service for retirement
Is there a minimum number of years required to qualify for retirement benefits at UPS? I've only got 9 years left to go and would like to make sure if I switch to UPS that I will retire with benefits at age 65. (Wife would like a couple of years of healthcare until she hits 65!)
Thanks!
Thanks!
01-02-2017 | 03:52 PM
#2
Gets Weekends Off
Joined: Dec 2005
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From: Leftof longitudinal
A crew member is vested after one year of work for both the Defined Benefit Plan and the Defined Contribution Plan. If you retire at 65, you have options to maintain your spouse/dependents on company healthcare or options to shop the market with some funding provided by the contract.
03-09-2017 | 01:52 AM
#4
Gets Weekends Off
Joined: Oct 2014
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From: Retired from APC.
Yes you would have your pension ($9,600/yr value) but you couldn't start taking it until you are of retirement age.
03-09-2017 | 06:38 PM
#5
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From: 757/767 Captain
03-12-2017 | 08:44 PM
#8
Line Holder
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From: 757/767 Captain
Taking retirement prior to Age 60 and NOT taking the distributions until Age 60 would give him his full vested years.
03-12-2017 | 09:40 PM
#9
Gets Weekends Off
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From: 757 Capt
The 8% is not an IRS penalty, it is a contractual penalty. Those who have retired before 60 tend to not draw on their A plan until they are 60 instead of taking that hit.
03-13-2017 | 08:29 AM
#10
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From: 757/767 Captain
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