401K Warning!!

Discussion in 'UPS Discussions' started by Raw, Jan 17, 2009.

  1. Raw

    Raw Raw Member

    With the stock market going down I got in the habit of transfering funds from safe to risky as I felt was needed to grow my 401K. As you know , Prudential is now running our 401K. The other day I transfered 80% out of the Stable Fund ( I had 100% in it ) to a more risky fund for a short time then my intent was to go back in the Stable Fund as the market would probaly continue down. After talking to the fund rep I found out that I can`t return the money to the Stable Fund for 90 days! No prompt to the new rule whatsoever! :angry:
     
  2. BigBrownSanta

    BigBrownSanta New Member

    Which fund was it? Some of the funds had a waiting period even before Prudential took over.
     
  3. Paid-over-in-Maine

    Paid-over-in-Maine 15 more years of this!

    I thought that I got some correspondence that explained the waiting period.
     
  4. drewed

    drewed Shankman

    I think mine was always set up that way, well actually i think it was once per fiscal quarter...
     
  5. Big Babooba

    Big Babooba Well-Known Member

    I was just wondering, do our Canadian friends have anything similar to our 401K?
     
  6. Jones

    Jones fILE A GRIEVE! Staff Member

    I'm kinda curious about that myself. I know they get the big http://en.wikipedia.org/wiki/Canada_Pension_Plan in addition to whatever they get from UPS.
     
  7. pkgdriver

    pkgdriver Member


    Yep there were some stipulations with state street also.
     
  8. DS

    DS Fenderbender

    The 401 is a major highway here,the only thing we know is what we read in here.From what I've gathered,its a kind of way to insure you will be ready for retirement money wise.Well we have no such thing.We will be entitled to the canada pension fund plus whatever ups gives us.We will still owe about $30,000 on our house ,IF, I survive as a driver till I'm 65.
    So in the next few years we have to downsize and try to cut back on luxuries,like vacations and restaurants.
    We will survive.
     
  9. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    DS, I like the 401. I drove it from Cornwall to the bridge going to Detroit.
     
  10. caspers1

    caspers1 New Member

    I got a letter this week from the 401k that they would put a credit to mine and other accounts. This was due to large loss from market projections. An agreement with previous holders of our 401k .
     
  11. LastBest&Final

    LastBest&Final To Endeavor To Persevere

    For as long as I remember you can move it once a quarter (no day trading), but it might take a few quarters for the stock market to go back up. When it does you'll make out good. As for me I'm hoping it stay down until I'm ready to retire, because I'm still buying.