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The Old Thrift Plan
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<blockquote data-quote="JustTired" data-source="post: 350515" data-attributes="member: 10234"><p>I always wished that they hadn't done away with the thrift plan. While it was before my time, I was told that the $6/week equated to about 2-3 hrs pay back in the 60s. Never understood why that amount didn't rise with wage increases. Can you imagine being able to invest 2-3 hrs wages/week and receive a 20+% return on your money?</p><p> </p><p>I always heard that the SEC regulated the amount you could contribute. Never bought it. Finally, I had someone fairly high up tell me what I considered to be the real reason. He said that UPS used the TP money for investment in equipment, etc. They were paying the 20% return for the use of that money. It got to the point where they could save a lot of money by borrowing from a bank as opposed to the TP. So it was capped at $6.</p><p> </p><p>Hated to see the TP end. But the stock I received split and a few years back I cashed in and paid my house off. This allowed me to jump up my retirement date. Now going in to my second week of retirement. And I guess I can thank the TP in part for that.</p></blockquote><p></p>
[QUOTE="JustTired, post: 350515, member: 10234"] I always wished that they hadn't done away with the thrift plan. While it was before my time, I was told that the $6/week equated to about 2-3 hrs pay back in the 60s. Never understood why that amount didn't rise with wage increases. Can you imagine being able to invest 2-3 hrs wages/week and receive a 20+% return on your money? I always heard that the SEC regulated the amount you could contribute. Never bought it. Finally, I had someone fairly high up tell me what I considered to be the real reason. He said that UPS used the TP money for investment in equipment, etc. They were paying the 20% return for the use of that money. It got to the point where they could save a lot of money by borrowing from a bank as opposed to the TP. So it was capped at $6. Hated to see the TP end. But the stock I received split and a few years back I cashed in and paid my house off. This allowed me to jump up my retirement date. Now going in to my second week of retirement. And I guess I can thank the TP in part for that. [/QUOTE]
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