Discussion in 'UPS Retirement Topics' started by Ms.PacMan, Jan 18, 2010.
The Teamster-UPS plan has made this list.
FedEx also found its way on the list.
Was just on that site today. It is partially because the company don't contribute and the employees don't participate. Also some of the ones who do don't have a big balance..... Just how I understood it...
We also have an extremely low amount of investment options in the plan. Extremely low. I do like the simplicity of the index funds though.
"For the average 401k participant, the 41 point difference between this plan's BrightScope Rating (52) and the top rated plan (93) could equate to:
-23 additional years of work
-Up to $183,000 in lost retirement savings"
FDX has more in assets than UPS in their 401 plan?
I noticed that we have less options than mgmt when someone posted their 401K choices in a thread. I would love to have Emerging markets and TIPS for a choice.
The fees changed to a flat rate of $12/yr I think when they switched to Prudential.
I highlighted to address your questions.
Simply open a self managed account, inside your 401k.
You then have every option to buy anything available on the market.
TIPS, MLP's, REITS, individual stocks, mutual funds ect.........
A SMA can be your best friend, just be sure you have done your research, before you buy.
All of your options are already available to you in the present 401K, via an SMA.
What are the fees for the SMA? Could I have put an order for 1000 shares of LVS at $17.90 today and have it fill? Or can I only purchase them at the market close price like it is if you transfer funds between the fund options?
Last I looked there was a $65+ transaction fee plus fees on your holdings. I wish the 401K was more usefull for todays market, not as if it was 1999. Also wish I could rollover my 401K without separating from the company.
not why, just what.
couldnt help but notice that the majority of union/company plans are at the bottom.
but yet two of the top 4 are also union/company plans...........
makes one think kickbacks........
I have an SMA. It sucks. I have one stock left in there. Waiting to break even to get out for good. I trade stocks for $9.99 in my Ameritrade account.
An SMA is only as good as the one that manages it. I have not sold one stock in my SMA in two years and it has grown over 20% (plus dividends). It is not the fees, nor the SMA that is "Hoovering" your profits.
The FedEx 401k Plan is administered by Vanguard, which has a wide variety of choices and also highly-rated. If any of you ever listen to Bob Brinker, you'll know how much he thinks of them and their low fund management costs.
That said, I'm guessing FedEx fares poorly because their match absolutely sucks (when it even exists) and not very many employees participate. Wanna know why? Because they can't afford to do so on their skimpy wages. You can't contribute the 15% maximum per week into the plan if you're living paycheck-to-paycheck, so the advantages of having various Vanguard funds from which to choose is mitigated by the fact that you probably have little money with which to invest.
It's all about disposable income, and when you struggle to hit $50,000 per year at the new FedEx, a 401k is a luxury many cannot afford, even if it's silly not to participate and make some tax-free (for now) money and reduce your obligation to the IRS. When you're making $75,000-plus, it's easier to make smart investment decisions.
Yet another problem with our country and it's shrinking unions. Corporate America expects you to fund your own retirement and kick in more and more for health care. All this on the $12 an hour they think is too much to pay you.
Saving for investment has nothing to do with the wage one makes.
It is about discipline, with a long term goal.
A 401k is not a luxury. A 401k-(as any savings program) is a hard fought uphill battle, by saving as much as one can bare.
Yes, now, I make over 80k, but I still apply the same discipline as when I only made $1.60 an hour.
There is no such thing as disposable income, only wasted money.
I well remember the days when I had to reach into the coffee can of saved pennies to be able to eat for the day.
Thank God that I had the foresight to save all those pennies.
Vanguard is a great group of low/no load funds, on the whole.
Sat you know a lot for a guy with no bank account
Does a Piggy Bank count?
Should someone who hasn't traded one stock in 2 years give his opinion on weather the account is good or not. I've traded 2 stocks per week sometimes. There are some in here who probably trade 2 stocks per day. The SMA is useless in this aspect. It only works as a buy and hold. Otherwise you'll need a loan to cover ther rediculously high trading fees.
Getting back to what I was originally saying.....There are a very limited number of funds to invest in. I would like to see a few more. But I do enjoy having the S&P 500, S&P 400 and Russell 2000.
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