I was under the impression that once my 401(k) had some money in it that I could self-direct a portion of it. When I go to the website to try to do so I can only get into the various funds offered. Am I missing something here? Am I mis-informed? And finally, why does the k in 401(k) have parenthesis around it?
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https://upssavings.csplans.com/info...xRbpl+ae2XPTszfAhR5nNxL/DmAHeZLAdhlv8M0K1Szsw==
Frequently Asked Questions
Question :
How does the Self-Managed Account work?
Answer :
The Self-Managed Account (SMA) is a brokerage option that offers you the ability to invest in stocks, bonds and other mutual funds. You have to apply for and set up a separate Self-Managed Account before you can trade stocks, bonds and mutual funds.
You can request an SMA application by calling the UPS Savings Advantage Information Line at 1-800-541-6154. The package includes instructions on completing the application. After you’ve mailed your completed application to State Street Global Markets, you’ll receive a welcome letter with your brokerage account number.
Once your account is open, you will need to transfer a minimum of $2,500 from your core investment funds into your SMA. On-line trading is available, or your may call an SMA broker to make trades. You must leave a minimum account balance of $5,000 invested in the UPS Savings Plan core investment funds immediately following your initial transfer to your SMA. All subsequent transfers into your SMA must be a minimum of $1,000.
There is a $50 annual account fee to maintain an SMA, and other transaction fees may apply. The annual account fee will be waived if your transaction fees exceed $50 per year. All fees are outlined in the application package. You may also utilize the dividend reinvestment plan (DRIP) feature for an annual fee of $20. This fee is waived if your SMA balance is greater than $75,000.
All purchases and sales of UPS stock are subject to the UPS Insider Trading Guidelines.