“On Topic” How to set up payroll deduction for IRA?

Discussion in 'UPS Discussions' started by DothetruckshaveAC?, Mar 30, 2020.

  1. DothetruckshaveAC?

    DothetruckshaveAC? New Member

    Is anyone familiar with setting up payroll deductions for an additional IRA such as a Roth? I would like to do it for the simplicity of funding directly from my paycheck rather than waiting for the money to hit my bank and then transferring from there. I’ve been in contact with HR and haven’t received a concise answer. Thanks
     
  2. I don't think you can do that. I have my IRA automatically taken out of my checking account
     
  3. UpstateNYUPSer

    UpstateNYUPSer Well-Known Member

    Short answer-----no.

    The best way to do it is to set up an automatic transfer from your bank to the IRA. Divide the maximum that you can contribute ($6K/$7K if over 50) by the number of weeks (52) to get the dollar amount to be transferred each week.
     
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  4. DothetruckshaveAC?

    DothetruckshaveAC? New Member

    Bummer, thanks fellas. I guess that’s how i will have to go about it then.