Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
When can you start contributing to the 401k
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="UpstateNYUPSer(Ret)" data-source="post: 1367494" data-attributes="member: 12570"><p>You can learn all about the 401k by visiting retirement.prudential.com.</p><p></p><p>There is a cap-----you cannot contribute more than 45% combined with an annual limit of $17.5K with an additional $5.5K for us older folks over 50. These limits are set by the IRS. There is no company match----they pay our administrative fees rather than offer a match.</p><p></p><p>You can choose between the traditional and Roth 401k's. The traditional is funded with pretax dollars while the Roth is post-tax. Withdrawals from a traditional are taxed while those from a Roth are not. You get the tax break now with a traditional and when you retire with a Roth.</p><p></p><p>I would like to see a mandatory 401k with a 3% starting contribution unless the employee opts out in writing.</p><p></p><p>My son is starting his new job 9/2 and among the benefits are a mandatory 401k with a 3% starting contribution rate and a full company match to 4% with an additional 1% if he contributes 6%. Company matches are free money and he would be foolish not to take advantage of them.</p></blockquote><p></p>
[QUOTE="UpstateNYUPSer(Ret), post: 1367494, member: 12570"] You can learn all about the 401k by visiting retirement.prudential.com. There is a cap-----you cannot contribute more than 45% combined with an annual limit of $17.5K with an additional $5.5K for us older folks over 50. These limits are set by the IRS. There is no company match----they pay our administrative fees rather than offer a match. You can choose between the traditional and Roth 401k's. The traditional is funded with pretax dollars while the Roth is post-tax. Withdrawals from a traditional are taxed while those from a Roth are not. You get the tax break now with a traditional and when you retire with a Roth. I would like to see a mandatory 401k with a 3% starting contribution unless the employee opts out in writing. My son is starting his new job 9/2 and among the benefits are a mandatory 401k with a 3% starting contribution rate and a full company match to 4% with an additional 1% if he contributes 6%. Company matches are free money and he would be foolish not to take advantage of them. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Retirement Topics
When can you start contributing to the 401k
Top