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UPS Partners
401k Match...when is it coming back?
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<blockquote data-quote="pretzel_man" data-source="post: 727259" data-attributes="member: 927"><p>Will you be telling the rest of that story???</p><p> </p><p>Yes, younger people do not get BOTH a pension and 401k. They only get a 401k.</p><p> </p><p>Of course for them, the company portion is much larger than it was for everyone else. Do you remember when they sent out the survey asking employees what they wanted? Younger employees wanted a portable pension. So the company did so. </p><p> </p><p>Now, I'm certain there are also benefits to the company in terms of less risk but.... These younger employees can stay with UPS then take their pension (401k) with them with no penalty... </p><p> </p><p>For me, if I leave 1 day before turning 55, my pension is worth about 1/2 of what it would be at 55. This is seen by most as a good thing. Of course, it removes the incentive to stay with UPS. </p><p> </p><p>P-Man</p></blockquote><p></p>
[QUOTE="pretzel_man, post: 727259, member: 927"] Will you be telling the rest of that story??? Yes, younger people do not get BOTH a pension and 401k. They only get a 401k. Of course for them, the company portion is much larger than it was for everyone else. Do you remember when they sent out the survey asking employees what they wanted? Younger employees wanted a portable pension. So the company did so. Now, I'm certain there are also benefits to the company in terms of less risk but.... These younger employees can stay with UPS then take their pension (401k) with them with no penalty... For me, if I leave 1 day before turning 55, my pension is worth about 1/2 of what it would be at 55. This is seen by most as a good thing. Of course, it removes the incentive to stay with UPS. P-Man [/QUOTE]
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401k Match...when is it coming back?
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