UPS retirement?

[Coffee Pot]

Hello Brown,
Just trying to get a ballpark figure on what the retirement payout would be for a 20 year career at UPS. Can anyone who works there, or someone who has one of those Kit Darby retirement books be so kind to provide the numbers? I know Darby’s numbers are a bit inflated, but a ballpark figure would be nice.

Also, is this provided as a lump sum or monthly installments?

And finally, for the Brown folks, are the two week on two week off schedules available system wide or just for ANC?

Many thanks.

 

[robert_fla]

Coffee,

Its basically 3k per year of service for captains under the new contract, so 60k is your ball park figure.
You can find the 15 day on schedule w/ SDF 747, SDF MD-11, SDF 767 int'l. maybe others.

r

 

[L'il J.Seinfeld]

A Plan is years of service X $3000. So 20 years would be 60K per year, but you can only collect it when you reach normal retirement age per the contract, which is 60. You can take it earlier than 60 but I think it is at a cost of 1.5% per year younger than 60.

The B plan is a 12% match of your monthly gross pay starting at the end of the first year of probation. Based on minimum pay that's about $820 per month for 2d years and ramping up as you accrue seniority. Assuming a 10% return you'd have around 500k at the end of 20 years, not adjusted for inflation. In other words, you would have an amount equal to what 500k is worth today.

So as you can see it is still a bit lacking. 401k and IRAs are a must as well. The 2 week trips are plentiful on the intl fleets but not domestic. However, trading reserve days or trip trading is very common.

 

[PreContact]

A Plan is years of service X $3000. So 20 years would be 60K per year, but you can only collect it when you reach normal retirement age per the contract, which is 60. You can take it earlier than 60 but I think it is at a cost of 1.5% per year younger than 60.

Is it capped at 20 years? Or however many years you're there?

 

[2LT]

Not capped...

Years of service...

 

[PreContact]

Think I found my answer in the contract...max 30 yrs...

 

[capt. megadeth]

I don't even think about the A plan for myself. There's no way we will have it in 20+ years. If it's there....great, but I'm not planning on it.

 

[2LT]

30 years?

Huh, didn't realize it was limited. In any case, not counting on it...

 

[Coffee Pot]

Thanks for the info!

 

[Airbum]

A plan is 1% of the highest 5 out of last 10 years capped at 30 years of service. This plan is limited by the IRS limits (currentlly $220k?) the irs limit will supposedbly be inflation adjusted by the gov. UPS upward cap regardless of IRS input is $300k.

There is also a Flat rate of $3,000 per year for Captains or ex captains, $2,400 for First Officers $2100 for Flight Engineers(not rollbacks) all these are capped at 30 years and currently not inflation adjusted.

One would receive the higher amount of the above figures. The A plan is also somehow tied to the mgt's retirement plan so it is less likely to be erased then in the past.

The B plan is 12% of total wages up to the legal limit. (allowing I think $27k max contribution per year). One invests this money themselves and whatever return u get is what u get. I dont think its touchable until 60, (standby for possible changes when age 65 get here)

If a guy retired today with 20 years its 20 x $3000 = $ 60k. If a guy retires in 20 years from now the flat rate would possibly be less or equal to the irs limit. Soooo... currently 20% x current salary (or irs limit of 220k todays dollars) = in my guess $44k A plan in todays dollars. (Flat rate plan is not inflation adjusted and will have to be renegoitated). UPS pay is forcast to only adjust for inflation this contract.

B plan ? is a wild guess, just depends on how fast u upgrade and investment success.

I tried to keep this in todays dollars. Thats my public school take on it.