Roth 401k

Discussion in 'UPS Discussions' started by Anon1, Jul 27, 2007.

  1. Anon1

    Anon1 Guest

    Went out to the 401k site and couldn't believe it. A Roth 401k is an option starting July 30th. It will also count towards your match. If you change/add to your election, remember you have to choose the funds separately from your regular 401k. I suppose you could choose the same funds, but it is clearly set up that you have to choose for both the regular 401k and the Roth 401k. Way to go UPS!
  2. MR_Vengeance

    MR_Vengeance United Parcel Survivor

    where did you see that?
    Last edited: Jul 28, 2007
  3. What'dyabringmetoday???

    What'dyabringmetoday??? Well-Known Member

    What do you mean by match?? I have never known UPS to match your 401K. Maybe I am missing something, but they don't match up this way.
  4. raceanoncr

    raceanoncr Well-Known Member

    You sure you ain't talkin bout UPSFreight? Cuz I know they offer a match. Package does not, at least not yet, unless I missed something too.
  5. scratch

    scratch Least Best Moderator Staff Member

    Management gets a match, hourly employees don't in Package.
  6. Fnix

    Fnix Active Member

    If I put $20 per paycheck into my 401k as an hourly I am getting $40 back right? If not how much?
  7. MR_Vengeance

    MR_Vengeance United Parcel Survivor

    you put in $20 and that's $20, the company doesn't offer anything.
  8. raceanoncr

    raceanoncr Well-Known Member

    You put $20 in 401k as an hourly and you get whatever interest or growth your particular fund of choice returns. You don't get no match from UPS.
  9. Fnix

    Fnix Active Member

    I thought I was matched dollar for dollar. I have deducted $620 into my 401k. I was hoping it was $1200. I guess I should just cancel it then?
  10. Raw

    Raw Raw Member

    Really now......!! :lol:
  11. paco

    paco New Member

    My understanding was that they matched 100% upto 3% of your contribution.
  12. Jones

    Jones fILE A GRIEVE! Staff Member

    Not in the Atlantic Area...
  13. that is for management employees only. The teamster 401k offers no match. I believe UPS freight gets a match for their 401k but I don't know the specifics.
  14. Fnix

    Fnix Active Member

    so out of curiosity using a conservative path $20 per paycheck how much am I getting back on that if any? Using S&P 500

    I know its hard to tell but is it in the dollars or cents range?
  15. satellitedriver

    satellitedriver Moderator

    The long term average on the S&P (20 years) is about 11% per annum. Some years 4%, some years 20%.
    401k money is for long term investing not short term gains.
    $20.00 a week at an average annual return of 11% in 20 years would equal $75,000.
    So, the actual money you put in would be $21,000. The gain from compounding interest would be $54,000.
    Do it for 30 years and you would have $243,000.00.
    A quarter of a million dollars ain't bad, when it only costs you $20.00 a week.
  16. upsis

    upsis Gold Member

    non-union hourly get the first 3 % matched with ups stock each quarter..
  17. Fnix

    Fnix Active Member

    non union hourly? :confused:1

    & thanks satellitedriver
  18. upsis

    upsis Gold Member

    a/t (administrative/technical) in rrdd 2029 = non/union hourly