OPL

Jim Kemp

Well-Known Member
What happened to ups' little tax scheme called OPL? Wasn't it a tax shelter in Bermuda? The sups would always rave about how well it was doing. Now I never hear a word about.
Also a while back I saw where UPS was being sued for charging customers for add corrections what happened with that?
And while we are at it what happened to the suit about overcharging for insurance?
What happened to these suits?
 

Catatonic

Nine Lives
What happened to ups' little tax scheme called OPL? Wasn't it a tax shelter in Bermuda? The sups would always rave about how well it was doing. Now I never hear a word about.
Also a while back I saw where UPS was being sued for charging customers for add corrections what happened with that?
And while we are at it what happened to the suit about overcharging for insurance?
What happened to these suits?

IRS decided it was not an illegal tax shelter and UPS did not have to pay any penalties.
OPL was liquidated in late 2007.
As for the suits, I believe they were settled and as always the lawyers got the money paid out.
OPL is pretty much a forgotten memory at this point... but a good memory. Without a doubt the best investment I ever had in terms of percent return on investment. Donated a lot to United Way and sold the rest.
I remember the Thrift Plan was nice too and that was available to all employees.
I don't remember OPL being available to non-management which is a shame.
 

brownmonster

Man of Great Wisdom
Hoax, OPL was available to us when UPS stock first became available to non-mgmnt employees. I believe it was one share for every 4 UPS shares. Had no choice but I don't think you could buy it separately.
 

Catatonic

Nine Lives
Hoax, OPL was available to us when UPS stock first became available to non-mgmnt employees. I believe it was one share for every 4 UPS shares. Had no choice but I don't think you could buy it separately.

You're right as i remember...but you could sell it and keep the UPS Stock.
At least non-management could get some of the benefits for a while.
I definitely had more in Thrift Plan than in OPL and any employee could get that $7 a week for Thrift Plan taken out.
 
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