how to opt out of the 401k ..?

Discussion in 'UPS Discussions' started by pkg handler, Oct 15, 2008.

  1. pkg handler

    pkg handler New Member

    I know it may sound silly but as of now they are taking out 50.00 per check and I really could use that money as I already have it in a 3.5% savings acct. so it accumulates a good amount of interest anyway. I know the company matches it but I'm not so sure how long I really will be here ( how many yrs) . So my question is how can I stop them from taking the 401k withdrawals from my check every week now ..? Just get the 25 out and thats it .. any help ..I tried asking hr but they seemed way too busy when i was leaving today
     
  2. looper804

    looper804 Is it time to go home yet

    Call the plan administrator and change your deduction.1-800-537-0189
     
  3. Service Failure

    Service Failure New Member

  4. drewed

    drewed Shankman

    Hes a pt sup so it would be the ups savings advantage website.... upsers.com uner life and career and it should be ups savings advantage about midway down the left side
     
  5. pkg handler

    pkg handler New Member

    thanks man sorry for not clearing that up yea it was a managmenet plan .. Just right now in my life i see no real need for it maybe in a couple of years yes
     
  6. pkg handler

    pkg handler New Member

    it ask for a pin..? i never got one i got my check today and realized i was enrolled automatically i guess ...? i dont have a pin to access the site
     
  7. pkg handler

    pkg handler New Member

    ok i reset my pin now how do i go about cancelling it for now ..? it shows i have no blanace but they just took it out yesterday so im sure it wont update for some time . I just want to cancel it altogther
     
  8. drewed

    drewed Shankman

    go to chat!
     
  9. pkg handler

    pkg handler New Member

    got it just changed my 5 % to all 0's ..thanks
     
  10. drewed

    drewed Shankman

    good haha im only down like 15% for the year....not too shabby compared to some
     
  11. pkg handler

    pkg handler New Member

    15 % of what ..?they take 15 5 out ,...? o and any way i can get that 50.00 back says minimum payout is 1,000.00 so im guessing now
     
  12. pkg handler

    pkg handler New Member

    another quick question. before i left the union i had an accumulated sick day that I haven't used ? I haven't been paid it by the union ..? Am I entitled to that or now since the crossover ..?
     
  13. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.


    A company match on a 401k is free money and is a perk we don't enjoy as hourlies. If you are able to, setting your contribution % to the % that the company matches would basically double your contribution to your 401k. Invest in funds that don't subject you to the wild ups and downs that the stock market has been and will continue to experience (up 936 yesterday, down 773 today) and you can deduct the amount that you have deducted from your pay from you gross income for income tax purposes. You mentioned that you don't know how long you will be here. The good news is that you should be able to roll this 401k in to the 401k at your next employer either directly or through an IRA.
     
  14. drewed

    drewed Shankman

    15%n of what ive paid into it this year.....ummm the 50 is lost and you should have been cashed out of your sick/vacation time when you left the union.

    as to what Upstate wrote, my boss told me never leave ANY money on the table, they want to to pay for school? go to school they want to contribute 3% to 401k? put in your 3% so you can get their 3 %
     
  15. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    I would think that you should be able to get that sick day. Talk to your center manager.
     
  16. he definitely should be able to, took me some biting and clawing but I eventually got my payouts (2 sick days, 3 optionals and 1 week vaca). They initially paid the vaca out wrong (supposed to be 1/52 your gross of the prior year) and that took another 3 weeks to get fixed, but eventually I got all that I was owed...keep on them about it or they'll sweep it under the rug.
     
  17. pkg handler

    pkg handler New Member

    yea it seems like thats what are trying to do.. just keep putting it off as much as possible it seems. The reason I dont really want to use the 401k right this second maybe by the beginning of the next yr is that with the new setup especially ( with being paid weekly now ) we won't be earning as much money i suppose. It another week to be taxed and all they are throwing extra in is the christmas bonus which is a regular check split into 52 other checks ... which comes out to like 15.00 extra a week ..
     
  18. drewed

    drewed Shankman

    we're going to be earning the same amount (if not more)?
     
  19. pkg handler

    pkg handler New Member

    yea they said maybe somewhat more .. like nothing substantial.. more is better anyway i guess.. but also heard they are taking away any premium time too so any time you work over 5.5 its not reflected on your check its basically not going to be added on .. i usually get around 3 hrs premium each check too..so that sucks :biting:
     
  20. drewed

    drewed Shankman

    im on vaca so i havent heard anymore, but mnzepher put a post up yesterday about the details that said wed be payed salary on the 27.5 hrs then anything after wouldnt be 1.1 but there would be some sort of increase....sooo idk lol