Sammyskipjack
New Member
Can someone please tell me who handled the 401k before Prudential took it in 2009? I'm having trouble finding records pre-2009. Any help would be greatly appreciated.
Teamsters/UPS 401k
- Thread starter Sammyskipjack
- Start date
BakerMayfield2018
Fight the power.
I remember having something called Bright horizon if that helps at all.
State Street
UpstateNYUPSer(Ret)
Well-Known Member
State Street out of Boston.
UpstateNYUPSer(Ret)
Well-Known Member
State Street out of Boston.
Indecisi0n
Well-Known Member
Yes
Indecisi0n
Well-Known Member
No
Gumby got it. It was State Street Bank and Trust.
Sammyskipjack
New Member
That does sound familiar. I'll research that, and thank you.
Off topic a little, but I will ask anyway. I turned 59 a couple of weeks ago and do I have to do anything with my Prudential account in six months? I need to talk to my investment guy. I am wondering if I can keep my balance where it is or do I need to figure out something better to do with it. I increased my withholding to 20% to pad it just a little more while I still can.
Catatonic
Nine Lives
59 1/2 is when one can start withdrawing without penalty.
70 1/2 is when you have to start withdrawing.
Personally I would leave it where it is, but if you happen to stumble across an investment vehicle with lower fees and better returns be sure and shoot me a pm...
If you plan on withdrawing money from it when you retire, you may want to out some of that money in the a safe investment.
I knew there is something about 59 1/2 that changes. I thought I had to close the account and pay taxes since its a traditional 401K and invest in something else. I get all kinds of different opinions when I ask co-workers. I don't know if I can continue to add to it after that or not. I really need to sit done with my planner since I haven't done it in a while. He helped me pick my investments in my 401K even though his company has nothing to do with it. I have a traditional IRA that handles my UPS stock and some mutual funds along with a money market account through him. Most of my investments are in my 401 though.
Keep saving away. You don't have to worry about anything else.
You really need to talk to a financial advisor. It would be money well spent if you are considering retiring.
For example he might say to withdraw some of that money before you collect Social security because it could make some of your social security taxable if you take out too much from your 401k.
They also recommend that you keep two years worth of cash on hand. That way you aren't making a withdrawal in a down market.
That's the problem unless you know a little something most people have no clue what to do.
You need to do a little leg work and educate yourself.
The Proper Asset Allocation Of Stocks And Bonds By Age | Financial Samurai
