forced to put into 401k

[cachmeifucan]

I live in killinois where the State is broken I would not put a 1 into anything control by them it's state by state if u live in another state but in Illinois bad stories and lawsuit is surrounding anything to do with Illinois college savings plan

 

[IVE GOTTA PACKAGE 4U]

I live in killinois where the State is broken I would not put a 1 into anything control by them it's state by state if u live in another state but in Illinois bad stories and lawsuit is surrounding anything to do with Illinois college savings plan

It's has nothing to do with the state, Federal government or UPS. it's your money in the 401k plan.

 

[cachmeifucan]

I was referring to 529 plan in my last post

 

[Jkloc420]

It's has nothing to do with the state, Federal government or UPS. it's your money in the 401k plan.

what percentage r you now

 

[IVE GOTTA PACKAGE 4U]

what percentage r you now

Over 20

 

[cachmeifucan]

Yes it's legal. You can opt out if you wish.

I didn't read that part in letter saying optional I think the word was mandated

 

[IVE GOTTA PACKAGE 4U]

I didn't read that part in letter saying optional I think the word was mandated

Nope you can opt out.but you shouldn't.

 

[cachmeifucan]

I'm at 7% I'm 39 I started at 17years old. Full time 14 years

 

[IVE GOTTA PACKAGE 4U]

I'm at 7% I'm 39 I started at 17years old. Full time 14 years

Every raise you get bump it up

 

[saintrick]

Automatic Enrollment
Full-time employees hired, rehired or transferred to an eligible job position on or after April 1, 2009 will be automatically
enrolled 90 days after their date of hire at a 3% pre-tax deferral rate. Those contributions will be invested in the age-
appropriate Bright Horizon Fund, based on a retirement age of 60. You may actively enroll at any time prior to being
automatically enrolled. By actively enrolling, you can choose your own contribution rate and investment options. You
may decline enrollment at any time prior to being automatically enrolled.

 

[saintrick]

Can you elaborate on the .10 PT to FT pension?

Is cach not in the UPS/IBT plan?

 

[brownmonster]

Got a letter in the Mail stating any new full-time employee or a lateral bid full-time employees will be forced to put 3% into 401k and 1% increase that will be capped at 10%. For One Is This Even Legal. 2 it scares me because are they trying to take our pension. They already took .10 from the part time employees to put into full time pension. Management is eliminating pension for non union employees. That was before the yuge tax cut. If ups revenue is 60 billion they tend to save a additional 14% corporate tax rate witch is roughly 9 bill

The 14% reduction you are referring to is on taxable profit not total revenue so 9 billion is way high.

 

[cachmeifucan]

They hide profit by investing in company. We were supposed to get 4 $ over 5 years but full and part time employee got 3.90 the .10 was to shore up full-time pension fund

 

[cachmeifucan]

So if ups profited 4 billion last year how much will they profit next year with a 14 percent corporate tax rate.

 

[cachmeifucan]

So if ups profited 4 billion last year how much will they profit next year with a 14 percent corporate tax rate.

 

[cachmeifucan]

I mean a 21% corporate tax rate a savings of 14% sorry

 

[burrheadd]

So give up your raise for a pension that might get cut. Or don't give up raise and decide how I would like to spend my money it's mine. I have stock and 401k but some people invest in themselves like a business or a college fund for kids and when your kids go to apply for college good luck getting help because uncle Sam will see the money parents have saved and say your not poor enough we give help to someone else

So, you opt out

It’s not that difficult

 

[Poop Head]

So if ups profited 4 billion last year how much will they profit next year with a 14 percent corporate tax rate.

I mean a 21% corporate tax rate a savings of 14% sorry

Is this a trick question?

 

[cachmeifucan]

No I wanted brown monster to break it down for me since he is clearly educated. And the fact that all these other companies are giving bonuses and pay raises. Except the union guys on here that want to lower our expectations. So I'm waiting how much more profit based on this year's revenue will we be sharing next year

 

[brownmonster]

No I wanted brown monster to break it down for me since he is clearly educated. And the fact that all these other companies are giving bonuses and pay raises. Except the union guys on here that want to lower our expectations. So I'm waiting how much more profit based on this year's revenue will we be sharing next year

As predicted the UPS stock dividend was raised 10%. The companies that are giving raises and bonuses are the exception, not the norm.