401k Information

[crvtec]

Hi.

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 friend/t job)? Can I purchase UPS stock with the 10% discount through the 401k? Any help would be great.

Thank you!

 

[JustAnotherBody]

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!

 

[Just Lurking]

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.

 

[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.

 

[spitt2000]

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.