Recently turned 60

brownIEman

Well-Known Member
Nobody is perfect. That's why I beat the newbies into starting the 401k plan

And they still don’t listen

I've never understood the folks who don't. I remember when UPS started a dollar for dollar 401k match up to 3% for mgmnt and admin/tech employees in the 90's. I was floored by the number of people I talked to who basically said "nah, not going to bother". They were basically saying "no UPS, I don't want that free 3% raise, you keep it"
 

BakerMayfield2018

Fight the power.
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I've never understood the folks who don't. I remember when UPS started a dollar for dollar 401k match up to 3% for mgmnt and admin/tech employees in the 90's. I was floored by the number of people I talked to who basically said "nah, not going to bother". They were basically saying "no UPS, I don't want that free 3% raise, you keep it"
Can't pass up free money. We didn't have a 401k when I started. We had the Thrift plan. Wish we still had it.
 

brownIEman

Well-Known Member
Can't pass up free money. We didn't have a 401k when I started. We had the Thrift plan. Wish we still had it.

Ah the thrift plan. Joined it as a PT loader around 92. Talked to some guys who'd been in it since the early 80's claimed it made around 20% returns almost every year. It was a good plan but I think some rules changed and plans that incestuous became problematic from an IRS/regulatory stand point. I was told way back the thrift plan owned most of the UPS buildings and UPS leased them back from the plan.
Let's not even get started on OPL...
 
Ah the thrift plan. Joined it as a PT loader around 92. Talked to some guys who'd been in it since the early 80's claimed it made around 20% returns almost every year. It was a good plan but I think some rules changed and plans that incestuous became problematic from an IRS/regulatory stand point. I was told way back the thrift plan owned most of the UPS buildings and UPS leased them back from the plan.
Let's not even get started on OPL...
And years later it was found out that UPS did nothing wrong. Bastards, I was just starting to make some good money on it. I remember old timers telling me they put $6 a week in ( which was all you was allowed to) after 30 years had a 100k

Not too shabby.
 

Two Tokes

Give it to me Baby
I turned 60 in December and on March 7th I will celebrate 39 years with this great company. Thanks to my recent divorce, I am looking forward to another 39 years of package fun. My question is - Should I go into feeders and ride it out or should I skip all the formalities and shoot myself now?
It is amazing you are still in package no matter how easy the route You Da Man
 

rod

Retired 22 years
And years later it was found out that UPS did nothing wrong. Bastards, I was just starting to make some good money on it. I remember old timers telling me they put $6 a week in ( which was all you was allowed to) after 30 years had a 100k

Not too shabby.


I had $126,000 in the Thrift Plan when they ended it. There were a few years it paid 20%-22% but toward the end the friend'in Company put a cap on what it could pay. Meanwhile all management was raking in UPS stock like it was Monopoly money. The bastards.
 
I had $126,000 in the Thrift Plan when they ended it. There were a few years it paid 20%-22% but toward the end the friend'in Company put a cap on what it could pay. Meanwhile all management was raking in UPS stock like it was Monopoly money. The bastards.
It was a good thing for us hourlies
 
E

el blanco

Guest
I had $126,000 in the Thrift Plan when they ended it. There were a few years it paid 20%-22% but toward the end the friend'in Company put a cap on what it could pay. Meanwhile all management was raking in UPS stock like it was Monopoly money. The bastards.

surprised?

shocked?

offended?
 
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