Question about 401k match

[fatthief]

I start buying 401k now and didn't see any match amount from the company.

 

[Catatonic]

I start buying 401k now and didn't see any match amount from the company.

Unless you are management you will not.
If management, contact HR.

 

[Jackburton]

I'd imagine you'd need to be there a particular amount of time before they match, or am I wrong in that assumption?

 

[brownmonster]

I bought 7k and the market matched about 70.

 

[UpstateNYUPSer(Ret)]

I'd imagine you'd need to be there a particular amount of time before they match, or am I wrong in that assumption?

There is no company match but they do pay the administrative costs.

 

[upschuck]

There is no company match but they do pay the administrative costs.

Not all the costs, several times a year they take a tiny amount out, .1% is max, but varies according to your holdings.

 

[oldngray]

if UPS had matched 401k like many other companies we wouldn't be so concerned about retirement.

 

[upschuck]

if UPS had matched 401k like many other companies we wouldn't be so concerned about retirement.

Probably wouldn't have a pension either. Few companies have both pension and a 401(k)

 

[oldngray]

I would have preferred the 401k match and manage my own money vs. trust UPS and Teamsters for a pension.

 

[upschuck]

I would have preferred both.

 

[Catatonic]

if UPS had matched 401k like many other companies we wouldn't be so concerned about retirement.

Companies that match 401k rarely offer pensions.
That's why they started offering 401k ... to get rid of pensions.
I'll take pension over 401k match any day.

Especially since I am old and gray.