Does ups contribute towards union employee 401k?

Discussion in 'UPS Discussions' started by 10233201, Dec 2, 2019.

  1. 10233201

    10233201 New Member

    Does prudential just save our 401k money that we invest with no growth ?
  2. barnyard

    barnyard KTM rider Staff Member

    If you have not seen growth, you are doing it wrong.

    UPS does not provide a match for bargaining unit employees.
  3. The Driver

    The Driver I drive.

    reddit: the front page of the internet

    Check out that link for general information on your journey to financial wellness.

    If you're young and don't know what you're doing I'd suggest just putting all of your contributions in your Prudential 401(k) into the S&P 500 index fund until you learn more. But the more and earlier you invest, the faster you'll be on the road to financial security.
  4. What funds do you have it invested in?
  5. 10233201

    10233201 New Member

    I’ve been driving for 3 years and ups automatically start taking money out for 401k from the first check , But I listen to Dave Ramsey who suggest getting a Roth IRA that will grow so I don’t know if I should drop ups 401k plan . Im 24 so I’m trying to make the best decision for my future
  6. UpstateNYUPSer

    UpstateNYUPSer Well-Known Member

    Kudos for listening to Dave Ramsey as his advice is spot on.

    Do some research on your own as to the differences between the Traditional and Roth 401k.

    If it were me I would put my money in to the Bright Horizon Fund closest to my projected retirement year. This is a "set it and forget it" fund which doesn't require a lot of time to manage.

    Every time you get a raise put it in to your 401k.
  7. The Driver

    The Driver I drive.

    24 and investing, you're in a good spot. Congratulations. Put as much as you can into the markets and don't throw up and panic when there's a big dip. Remember, you're buying little pieces of some of the strongest companies in the world. In the end the stock market is a scale. You want that scale to be heavy, own a lot of shares of the world's best companies.

    Go get it.
  8. Brownslave688

    Brownslave688 You want a toe? I can get you a toe.

    Just choose the Roth 401k
  9. CoffeeStainedUniform

    CoffeeStainedUniform Active Member

    The IRA (Roth or traditional) contribution limit is much smaller than your 401k. Max out your'll get more tax free growth. Or do both.
  10. UpstateNYUPSer

    UpstateNYUPSer Well-Known Member

    He is not eligible to contribute to a Traditional IRA because of our pension plan.
  11. Heavy Package

    Heavy Package Well-Known Member

    The best decision for your future would be to leave UPS before your back / knees give out and you retire from UPS with a power scooter.
  12. UpstateNYUPSer

    UpstateNYUPSer Well-Known Member

    When did they start giving our power scooters as parting gifts?
  13. Package Stick

    Package Stick "Send it."

  14. CoffeeStainedUniform

    CoffeeStainedUniform Active Member

    I didn't know that. Wish we'd get a match instead of the pension.
  15. UpstateNYUPSer

    UpstateNYUPSer Well-Known Member

    Actually, I was mistaken------we are allowed to contribute to a Traditional IRA even if we have a retirement plan through our employer; however, the deduction for our contributions may be limited based upon our income.

    Retirement Plans FAQs regarding IRAs Contributions | Internal Revenue Service