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Brown Cafe UPS Forum
UPS Retirement Topics
New Driver questions 401k/pension
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<blockquote data-quote="browniehound" data-source="post: 161844" data-attributes="member: 4653"><p>Leddy,</p><p>This is my opinion. Why did you lower your 401k contributions from 25% to 16%? I would max that out because there is no garuntee that the pension will be there when you retire. And yes, your investment in the 401k is safe from the teamster predators. Its jointly run by UPS and the teamsters, but the money you put in is yours forever, unless of course you chose poor investments.</p><p> </p><p>As far as the pension goes, UPS automatically contributes to it on your behalf. You don't need to enroll or sign any paperwork. However you need to work a certain amount of years before you have a vested right to a pension benefit.</p><p> </p><p>And my opinion on purchasing stock is not to do so. You already depend on UPS for your paycheck so I don't think you should risk anymore of your assets in the company. Besides, there are so many better investments for your 75 bucks a week than UPS stock. It is surely a laggard in its industry group over the last 5 years. Taking your $75 a week in sticking it in an index fund is going to do MUCH better than purchasing UPS stock.</p></blockquote><p></p>
[QUOTE="browniehound, post: 161844, member: 4653"] Leddy, This is my opinion. Why did you lower your 401k contributions from 25% to 16%? I would max that out because there is no garuntee that the pension will be there when you retire. And yes, your investment in the 401k is safe from the teamster predators. Its jointly run by UPS and the teamsters, but the money you put in is yours forever, unless of course you chose poor investments. As far as the pension goes, UPS automatically contributes to it on your behalf. You don't need to enroll or sign any paperwork. However you need to work a certain amount of years before you have a vested right to a pension benefit. And my opinion on purchasing stock is not to do so. You already depend on UPS for your paycheck so I don't think you should risk anymore of your assets in the company. Besides, there are so many better investments for your 75 bucks a week than UPS stock. It is surely a laggard in its industry group over the last 5 years. Taking your $75 a week in sticking it in an index fund is going to do MUCH better than purchasing UPS stock. [/QUOTE]
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