401k Information

Discussion in 'UPS Discussions' started by crvtec, Oct 18, 2006.

  1. crvtec

    crvtec New Member


    I will be starting at UPS soon as a p/t package handler. I understand that UPS offers 401k benefits along with 100% matching contribution of up to the first 3% (from their website). However, I can't seem to find much any other information. Can anyon fill me in? What options do I have for investing, if limited? Is there a max contribution that UPS permits (I'd like to put 100% of my pay into the 401k, as I have a f/t job)? Can I purchase UPS stock with the 10% discount through the 401k? Any help would be great.

    Thank you!
  2. as far as i know they don't match anything for hourly employees.. maybe im mistaken but if i am then well ups owes me 3% for 6 years. HOPE YOUR RIGHT!
  3. Just Lurking

    Just Lurking Member

    Match is for non-union employees only.

    Without looking it up there is roughly 9 funds (mostly stock but balanced and stable along with 4-5 targeted date funds. Plus a self managed account.

    25% of pre-tax and 5% after-tax (up to IRS limits)

    Discount stock program is separate from 401(k)

    Not sure on waiting period for both.
  4. The Cowboy

    The Cowboy The Cowboy

    You should receive a password from the union that allows you to access the 401(k) site. Enroll on that site - you can enroll in the 401(k) immediately. The 401(k) site also has information on the funds that are available; most are index funds run by State Street Global Advisors (SSgA). All of the funds have very low internal fees and are designed to replicate a particular index.

    THe stock purchase plan is entirely separate. You are eligible for enrollment after 6 months of employment. You can purchase up to $10,000 in stock - you buy it at a 10% discount and must hold it at least two years.
  5. spitt2000

    spitt2000 New Member

    I had the same question early on, you can get into it right away, but there is no match. you can find it by googling teamster ups 401k.