Retro check tax rate

Discussion in 'UPS Union Issues' started by laffter, May 2, 2014.

  1. laffter

    laffter Active Member

    Last week, my part time sup, during our PCM, mentioned that he heard our back-pay would be taxed at 40%. In another thread, here, I read that it would be taxed at the normal rate.

    Does anyone have any factual information about this?
     
  2. upschuck

    upschuck Avatar bet gone wrong

    IBT said in the letter anouncing agreement that it would be taxed at regular rates. UPSers says same thing.
     
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  3. Wally

    Wally Hailing from Parts Unknown.

    This stuff drives me crazy. Look at this chart. Most of us are taxed between 15 to 28 percent. It seems more because the numbers go up on big checks.

    [​IMG]
     
  4. Dragon

    Dragon Package Center Manager

    Taxed at your regular rate, I went thru a presentation today.
    401k
    If you have any garnishments that are percentage of your weekly check that will also come out.
     
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  5. Too bad we cant put It all in our 401k. Just like option week or personal days
     
  6. That's awesome
     
  7. You can change it for a while to off set it.
     
  8. [quote Mr. Bojangles, post: 1319267, member: 52022"]You can change it for a while to off set it.[/quote]
    I understand that. Just do not understand,why that option wasnt given.
     
  9. I understand that. Just do not understand,why that option wasnt given.[/quote]
    Me either.
     
  10. Me either.[/quote]
    If we had that option, alot of people who dont add to their 401k, might put this retro money In. they made it this far without the money...why not put it in?
     
  11. If we had that option, alot of people who dont add to their 401k, might put this retro money In. they made it this far without the money...why not put it in?[/quote] I agree. People need help saving their money. That's for sure.
     
  12. Wally

    Wally Hailing from Parts Unknown.

    Call HR. Maybe payroll can do that?
     
  13. bottomups

    bottomups Bad Moon Risen'

    If we had that option, alot of people who dont add to their 401k, might put this retro money In. they made it this far without the money...why not put it in?[/quote]
    I'm going to go ask my wife if I can put it in.
     
  14. Kae3106

    Kae3106 Active Member

    Here's a link to an online paycheck calculator. You can enter the wage amount and then tweak the taxes and deductions to see the effect on the net pay. http://www.adp.com/tools-and-resour...l-calculators/hourly-paycheck-calculator.aspx
     
  15. brownmonster

    brownmonster Man of Great Wisdom

    Putting the retro in my 401k would be like a rain drop in the ocean. Lol.

    Sent using BrownCafe App
     
  16. I'm going to go ask my wife if I can put it in.[/quote]
    Just going to add my retro check to my roth IRA and I bumped up my 401k another percent.
     
  17. Quigley

    Quigley Active Member

    I'm going to spend mine on beer and hookers.
     
  18. brown_trousers

    brown_trousers Active Member

    Its never that easy :)
     
  19. Cheap hookers and good beer! I assume?
     
  20. Wally

    Wally Hailing from Parts Unknown.

    Not necessarily in that order either!