Expert: Ed McFarland - 9/15/2006

Question
I worked for UPS full time for 16 years, and am vested to receive retirement benefits through the Teamsters Central States Pension Fund.  I left UP 6 years ago.  How would I begin the process of 'cashing' out the benefits owed to me, and calculating a cash value? Thank you.

Answer
You should be able to contact the local office and get the contact for the plan administrator.

You should get a statement from them outlining your benefits and what you need to do to collect yours.

You may want to consult with a financial planner after you get the statement and determine which way, lump sum or annual payments, works best for you.

If you should have problems, the Department of Labor oversees pensions and you can find the local contact at www.dol.gov

Good luck