Home
Forums
New posts
Search forums
What's new
New posts
Latest activity
Members
Current visitors
Log in
Register
What's new
Search
Search
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
Teamster 401K Packet
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="pickup" data-source="post: 2560095"><p>By the time you are notified and made aware of opting out, you're already opted in and your paycheck this week will probably have 2 percent (or 3 percent if we go by upstate's post). You then will try to opt out and will be informed by the rep over the phone or your computer that the change will take up to 10 business days to process. So you will probably end up with 2 or 3 paychecks having that bite in them.</p><p></p><p> And then when you leave the company , you will then receive a letter from the 401 fund that you need to rollover the little money you have in the fund to another 401k fund or take a check .If you take the check(which is the default option if you don't take action by a certain time), you will then have to pay a 10 percent penalty in addition to the taxes on the money in the check. </p><p></p><p>Yep, that's the way it usually goes, from what I heard.</p></blockquote><p></p>
[QUOTE="pickup, post: 2560095"] By the time you are notified and made aware of opting out, you're already opted in and your paycheck this week will probably have 2 percent (or 3 percent if we go by upstate's post). You then will try to opt out and will be informed by the rep over the phone or your computer that the change will take up to 10 business days to process. So you will probably end up with 2 or 3 paychecks having that bite in them. And then when you leave the company , you will then receive a letter from the 401 fund that you need to rollover the little money you have in the fund to another 401k fund or take a check .If you take the check(which is the default option if you don't take action by a certain time), you will then have to pay a 10 percent penalty in addition to the taxes on the money in the check. Yep, that's the way it usually goes, from what I heard. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Brown Cafe UPS Forum
UPS Discussions
Teamster 401K Packet
Top