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Teamsters 401k
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<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 421157" data-attributes="member: 12570"><p>The 401k comes out before the taxes. Yes, it does affect your take home, but you can make some adjustments to your W-4 to ensure that you take home stays the same. For example, I have 25% coming out weekly and I increased my Federal allowances to 7 and kept my state at 1. My take home has stayed roughly the same and the write off I will take on my taxes for the contributions to my 401k will offset the reduced taxes that I have taken out each week so the end result is I should receive about the same refund I received last year. There are many free calculators online which can help you determine the right number of allowances for your particular situation.</p><p> </p><p>BTW, to the poster who wished that UPS matched our 401k, I also wish that but they do pay all adaministrative fees so that is something.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 421157, member: 12570"] The 401k comes out before the taxes. Yes, it does affect your take home, but you can make some adjustments to your W-4 to ensure that you take home stays the same. For example, I have 25% coming out weekly and I increased my Federal allowances to 7 and kept my state at 1. My take home has stayed roughly the same and the write off I will take on my taxes for the contributions to my 401k will offset the reduced taxes that I have taken out each week so the end result is I should receive about the same refund I received last year. There are many free calculators online which can help you determine the right number of allowances for your particular situation. BTW, to the poster who wished that UPS matched our 401k, I also wish that but they do pay all adaministrative fees so that is something. [/QUOTE]
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