This can not be right? 401K UPS

[texan]

Not another 401K thread...

There is a web site that rates 401K's.

http://www.brightscope.com/ratings/

I looked up UPS and cannot believe what they say on the amount of
participants below? 2,800 huh?

 

[UpstateNYUPSer(Ret)]

You looked at the management version. Ours is held by Prudential out of Boston.

 

[Catatonic]

Since it is a Louisville, KY address, I would assume this is a division in the Air Group ... maybe pilots, especially with the average balance of $350,000.

 

[texan]

Thank makes sense Photog.

I know that the IBT has different ones, but 2,800 is very low for Management / admin in my assessment.

 

[UpstateNYUPSer(Ret)]

I didn't even think about the Air Group.

 

[realbrown1]

You need to search:

Board of trustees of the teamsters-UPS National Savings Plan.

Those numbers will look a lot more like us.

 

[Returntosender]

Dan Dismukes
Corporate U.S. Benefits Group Manager at UPS

http://www.linkedin.com/pub/dan-dismukes/32/278/b14

Most of Dan linkedin profile links in the accounting department came from Ernest and Young Audit.

 

[govols019]

We have an average balance of $60,000.

 

[brownmonster]

We have an average balance of $60,000.

Who is we? If it's the driver group an average of 60K is kind of sad albeit better then the general populace as a whole.

 

[Xexys]

Remember, the 401k was not introduced until 1991. Before that, we had the Thrift plan that was abolished and only a portion of which could be directed toward the 401k. This and the fact that many of the plans participants (in my opinion) didn't/don't aggressively invest, could account for the poor average. Many employees find it very difficult to put away money as most live beyond their means. If you can put away 10% of your money in the 401k I think you're on your way to a fine investment, especially if you keep that up for 30+ years during your working career.

 

[IVE GOTTA PACKAGE 4U]

It seems like, the money whores, put away the least! They can but a 50k luxury vehicle, but cant put 2% in their 401k !

 

[Xexys]

It seems like, the money whores, put away the least! They can but a 50k luxury vehicle, but cant put 2% in their 401k !

These are the types I worked with. Although working in NJ it was hard enough to just buy groceries after all said and done during the month. Quite a few people work in expensive areas of the country and it's very hard to save a dime. One needs to force himself to save. Me? I bought clunkers throughout my career and never even bought a new car until I retired.

 

[IVE GOTTA PACKAGE 4U]

These are the types I worked with. Although working in NJ it was hard enough to just buy groceries after all said and done during the month. Quite a few people work in expensive areas of the country and it's very hard to save a dime. One needs to force himself to save. Me? I bought clunkers throughout my career and never even bought a new car until I retired.

I understand that In certain parts of the country,you may not be living high off the hogg. Not too much you can do about that. Im talking about the guys that buy 50k cars and take 3 cruises a year. But they cant even put 15 bucks a week in their 401k.?

 

[Xexys]

I understand that In certain parts of the country,you may not be living high off the hogg. Not too much you can do about that. Im talking about the guys that buy 50k cars and take 3 cruises a year. But they cant even put 15 bucks a week in their 401k.?

I hear ya! Living in the moment and not thinking about your future is not good. I have a brother like that.

 

[IVE GOTTA PACKAGE 4U]

I hear ya! Living in the moment and not thinking about your future is not good. I have a brother like that.

Loka t what the price of health care went up for retirees!....These boyz better put something away!