Teamsters/UPS 401k

[Nothing by 1030 anymore]

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 amy 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.

Keep it there.. Very low cost, although you are unable to add to it ... I would suggest putting in a low risk plan they have for soon to be or retired people.

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.

citi street

 

[Catatonic]

Incorrect...no penalty if ur 55 and up when you retire if its a company plan. Google the 55 rule

Not incorrect ... 59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a regular payout that he was locked into.

 

[IVE GOTTA PACKAGE 4U]

59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a monthly payout that he was locked into.

72t but once you make that election, you cannot change. Another thing to take into consideration. My state does not tax 401k withdrawals but if you take it before 59 1/2 it is taxable

 

[Catatonic]

Not incorrect ... 59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a regular payout that he was locked into.

I would like to add, that unless one has a terminal disease, there are few scenarios where one should begin withdrawing before 59 1/2. If one does, they probably don't have a 'smart' retirement plan.

 

[rod]

Used to collect $500,$1000 bills, draped bust, and seated dollars. Specialized in pennies. It was a niche that few were doing at the time. I still have a bunch of toned Morgan, peace dollars. Most valuable one I think is a shield nickel ms 65. Might be a canidate for an upgrade after 25 years.

Do you have any of the 500's or thousands left? I was at a bar one time and the owner asked if anyone had change for the 500 dollar bill he was flashing around. I did but he back out on me---pissed me off. You have any S-VDB's lying around you want to get rid of?

 

[IVE GOTTA PACKAGE 4U]

Do you have any of the 500's or thousands left? I was at a bar one time and the owner asked if anyone had change for the 500 dollar bill he was flashing around. I did but he back out on me--- me off. You have any S-VDB's lying around you want to get rid of?

 

[rod]

Actually I wish the locals would have planners come talk to us once or twice a year. But they want us depending on their pensions.

Most reputable companies have a retirement planning class for those about ready to leave. My wife worked for the State and had all kinds of chances to attend these presentations. Heaven forbid UPS or the Teamsters do something educational for their minions. When I retired I swore I was the first person in history to retire from UPS. I couldn't get a straight answer from anyone.

 

[rod]

View attachment 137305

Years ago I collected a dozen hundred dollar bills for a cash only COD. The guy paid me in 1932 hundred dollar bills. I still have 5 of them. The last I checked they were worth $106.. Not one of my better investments

 

[rod]

duplicate

 

[IVE GOTTA PACKAGE 4U]

duplicate

Actually nthe ones from the 60's with the red seals are worth more. It's not how old but how many were made

On the bright side you got yours at face value.

 

[1989]

Do you have any of the 500's or thousands left? I was at a bar one time and the owner asked if anyone had change for the 500 dollar bill he was flashing around. I did but he back out on me--- me off. You have any S-VDB's lying around you want to get rid of?

No, they're all gone. Why, was 1909 your birth year?

 

[IVE GOTTA PACKAGE 4U]

No, they're all gone. Why, was 1909 your birth year?

The 1909 S VDB is worth some serious coin.

 

[1989]

The 1909 S VDB is worth some serious coin.

It's all about the condition. The 1893 S Morgan can hold its own.

 

[IVE GOTTA PACKAGE 4U]

It's all about the condition. The 1893 S Morgan can hold its own.

Another key date coin

 

[UpstateNYUPSer(Ret)]

Not incorrect ... 59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a regular payout that he was locked into.

Rule of 72(t).

 

[Nothing by 1030 anymore]

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 amy 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.

Keep it there.. Very low cost, although you are unable to add to it ... I would suggest putting in a low risk plan they have for soon to be or retired people.

Not incorrect ... 59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a regular payout that he was locked into.

incorrect, 55 rule, I know from experience,you are guessing like most people here and of course from what a friend said. Smh.

 

[Nothing by 1030 anymore]

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 amy 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.

Keep it there.. Very low cost, although you are unable to add to it ... I would suggest putting in a low risk plan they have for soon to be or retired people.

Not incorrect ... 59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a regular payout that he was locked into.

incorrect, 55 rule, I know from experience,you are guessing like most people here and of course from what a friend said. Smh. There are not many ways. Lmao. 591/2 is the only rule except the 55 exception

 

[Nothing by 1030 anymore]

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 amy 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.

Keep it there.. Very low cost, although you are unable to add to it ... I would suggest putting in a low risk plan they have for soon to be or retired people.

Not incorrect ... 59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a regular payout that he was locked into.

incorrect, 55 rule, I know from experience,you are guessing like most people here and of course from what a friend said. Smh. There are not many ways. Lmao. 591/2 is the only rule except the 55 exception

 

[Nothing by 1030 anymore]

Not incorrect ... 59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a regular payout that he was locked into.

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 amy 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.

Keep it there.. Very low cost, although you are unable to add to it ... I would suggest putting in a low risk plan they have for soon to be or retired people.

Not incorrect ... 59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a regular payout that he was locked into.

incorrect, 55 rule, I know from experience,you are guessing like most people here and of course from what a friend said. Smh. There are not many ways. Lmao. 591/2 is the only rule except the 55 exception

 

[Nothing by 1030 anymore]

Not incorrect ... 59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a regular payout that he was locked into.

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 amy 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.

Keep it there.. Very low cost, although you are unable to add to it ... I would suggest putting in a low risk plan they have for soon to be or retired people.

Not incorrect ... 59 1/2 is the generic rule.
There are many ways to withdraw funds before 59 1/2 without penalty.
I had a friend who had a large 401 k and retired when he was 49. He started withdrawing without penalty because he set up a regular payout that he was locked into.

incorrect, 55 rule, I know from experience,you are guessing like most people here and of course from what a friend said. Smh. There are not many ways. Lmao. 591/2 is the only rule except the 55 exception