Buyouts are great to take if you know how to invest! Anyone who took the buyout this year could buy Solana, Bitcoin, or Etherium and will double their money in a year. probably 10X their money is 5 years. If you are scared of crypto, an index fund would be my next option. I think the S&P 500 is up 24% this year. You cant expect 24% every year but probably 10% gain per year. I personally like the Nasdaq or US30. Im not a financial advisor but it basic economics at the end of the day.
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I had 14 year and 8 months leaving the RR in my late 30s. If I too that buyout and invested it with a 7% return it would be close to what my full benefit would be at 65. The buyout offer is around 60k lump sum.
How many years did you aquire? For that little amount.
Received an offer of about $370/month of service. Seems really stingy and puny. I’ll probably just leave it alone and let them keep it on the books.
With Beth in charge expect more fu-k ups like this. Make an artificial deadline, for no reason, then don’t meet it. That’s how she ran every department she was vp of
Its less than $500 per month of service. EX. 5 years (60 months) will be $27000-28000.
Subtract about 35% for taxes taken out. Then factor in where you will be for 2024 tax bracket.
What a ripoff considering the projections you used to be able to look at on their website until they took it down.
No offer received yet. Received the postcard almost a month ago informing me of a buyout coming in early May, but nothing as of yet. As usual, UP is running behind schedule...
Has anyone received an offer yet?
How likely is it if one refuses the buyout that UP will come with a larger offer?
Today I received my annual funding notice for pension with no mention of buyout or anything suggestive of a buyout. I had 17 years of UP service when I took “voluntary separation”.
Used car money.
Taking the buyout moves the risk from UP to yourself. If your health isn't great, cashing out is a good thing for your heirs. But if you are in good health, passing up a monthly check might be a decision you'll regret in 15-20 years.
Must be nice being a non agreement employee at UP.. Bonuses, buyouts, severance. While the ones doing the work, get 5 days pay if they’re furloughed
People I know who have left the company and accepted a pension buyout said it equates to about $500 for every month of service. 60 months = 30k
Why aren't they good to take? Seems like a good idea to roll it over to something more tangible. Do you really trust the UP won't do employees dirty and find away to make the pain disappear in the future?
Buyouts are never good to take.
Only for non- agreement professional employees! You are vested after your 5th year and have to be old enough to claim the Benifits
I received the same mail. They will try to lowball.
They should offer the current employees.
Pension buyout is an offer from Uprr, separate from our Railroad Retirement Board plan . Uprr can’t touch or change RRB plan .
Damn UP hurting for money that bad????
Received a mailing yesterday informing me that a pension buyout offer will be sent out on May 1. Those who receive the buyout offer will be required to respond by June 17th. I am interested in seeing how low the offer will be. Anyone out there receive an offer in the past? If so, was it what you expected, higher or lower?
? More details please.