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Brown Cafe UPS Forum
UPS Union Issues
Teamster Buyout?
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<blockquote data-quote="Red Headed Stranger" data-source="post: 6162228" data-attributes="member: 90351"><p>I think the real issue will be for those that take the offer, unless they have way under-funded or opted NOT to do a 401k previously and have the ability to shift a lot of what they'll receive from the buyout into the tax deferred 401k ($23,500 maximum for 2025 + $7,500 for ages 50 - 59 or the higher $11,250 for those ages 60 to 63) prior to their leaving, they will lose such a large portion of what they are receiving in the buyout to Federal and State taxes. When you add the lump-sum payout to what you'll have already made this year, in most cases, it will significantly increase your tax bill.</p></blockquote><p></p>
[QUOTE="Red Headed Stranger, post: 6162228, member: 90351"] I think the real issue will be for those that take the offer, unless they have way under-funded or opted NOT to do a 401k previously and have the ability to shift a lot of what they'll receive from the buyout into the tax deferred 401k ($23,500 maximum for 2025 + $7,500 for ages 50 - 59 or the higher $11,250 for those ages 60 to 63) prior to their leaving, they will lose such a large portion of what they are receiving in the buyout to Federal and State taxes. When you add the lump-sum payout to what you'll have already made this year, in most cases, it will significantly increase your tax bill. [/QUOTE]
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