TForce | Pension question.

[Powmia]

So let's say you are currently, or soon will be eligible to collect your pension from UPS Freight. After the sale is completed what would prevent you from collecting your "frozen" UPS pension and continuing to work for the new company?

 

[No port]

So let's say you are currently, or soon will be eligible to collect your pension from UPS Freight. After the sale is completed what would prevent you from collecting your "frozen" UPS pension and continuing to work for the new company?

Now that's a good question.
More likely than not you would have to retire and then be rehired.

 

[Powmia]

Now that's a good question.
More likely than not you would have to retire and then be rehired.

I'm not sure why you would have to quit and be rehired. Certainly not saying that wouldn't be the case. But being that it's a completely new and separate company I wouldn't know why you would.

 

[No port]

I'm not sure why you would have to quit and be rehired. Certainly not saying that wouldn't be the case. But being that it's a completely new and separate company I wouldn't know why you would.

When UPS bought overnight you weren't able to just retire under the overnight formula start collecting your pension and keep working for UPS. the conditions of the pension as and how many years eligibility investment pretty much stayed the same. Up until 2013 it was the UPS retirement plan then it changed to the UPS pension plan, how you calculated the financial benefit changed but not how you achieved and were able to draw on your pension.
As I stated it's a good question.

 

[cavscoutdad]

When UPS bought overnight you weren't able to just retire under the overnight formula start collecting your pension and keep working for UPS. the conditions of the pension as and how many years eligibility investment pretty much stayed the same. Up until 2013 it was the UPS retirement plan then it changed to the UPS pension plan, how you calculated the financial benefit changed but not how you achieved and were able to draw on your pension.
As I stated it's a good question.

We had a couple of retirees working on the dock, part time, in Roanoke. They worked for a few months after UPS took charge and were then told they had to quit because they could not collect both a retirement check and a paycheck from UPS.
We also had a guy that worked part time for UPS package and part time for Overnite at the time of the buyout. He was told that he had to choose one or the other but he couldn't continue working for both because UPS doesn't allow you to collect 2 paychecks from them. He chose UPS to stick with.

 

[T Force Driver]

Now that's a good question.
More likely than not you would have to retire and then be rehired.

Usually there’s a clause in the union contract prohibiting you from working more than 20 hours at another trucking company… You need to speak to your union rep

 

[Triplex]

Usually there’s a clause in the union contract prohibiting you from working more than 20 hours at another trucking company… You need to speak to your union rep

With the driver shortage in recent years many of those restrictions have been relaxed. As you say, speak to union rep for latest information.

 

[No port]

Being that this isn't going to be UPS any longer, there will be many changes in operations and how the company does things. The ups influence will be gone.
It will take time, but this isn't UPS anymore as of the sales date.
It would be great if you could retire and then work at the same place.