Thrift plan

[oldngray]

The way I remember it was that was the only way for hourlies to buy stock before the IPO.

 

[Wally]

Just give the hag all the money now, saves so much time!

 

[Wally]

The thrift plan done away with when we were first allowed to but stock. 95? 96? Because I rolled
all mine over into UPS stock just before the IPO. I had never touched mine since I started in 1975.
I must admit that has all paid off quite well.

What is it worth now?

 

[IVE GOTTA PACKAGE 4U]

Same, because I would have done that.
Don't recall being able to convert it to stock, either.

I bought stock with the earnings from the plan

 

[over9five]

Maybe it was different in other areas or regions I don’t know.

I bought stock with the earnings from the plan

Yeah, I'm really foggy on that, @Gumby . If I had to guess, I think I cashed out and paid big taxes on it.
Also wondering if @john chesney has a point that different areas had different choices.

 

[IVE GOTTA PACKAGE 4U]

Yeah, I'm really foggy on that, @Gumby . If I had to guess, I think I cashed out and paid big taxes on it.
Also wondering if @john chesney has a point that different areas had different choices.

I got a check for what I contributed the earnings I bought stick with but I had to pay the 10% penalty plus income tax on it.

Maybe around 20 years ago?

 

[Johney]

I don’t recall rolling it over to your 401k being one of the options.

Same, because I would have done that.
Don't recall being able to convert it to stock, either.

All I remember was take a payout or roll it into stock.

 

[oldupsman]

What is it worth now?

Well yes, in the long run. I've since sold alot of my UPS stock when it hit $100 a share.
I held onto it a long time. My financial adviser wanted me to sell some earlier than I did
because I had too much.

All I remember was take a payout or roll it into stock.

That's what I recall also. I don't remember paying income tax on it because I think it was
deducted after taxes like Monkey said so it wasn't taxable.

 

[clean hairy]

I am in the Southern.
With mine, I got a check for part, and some stock for the rest.
That was automatic if you did not select what you wanted done with the $ in your thrift plan account.

 

[john chesney]

Well I don’t know how old socks is still in the thrift plan and I’m not sure his wife was just sleeping either. I’m sorry I mean his friend

 

[rod]

Well I don’t know how old socks is still in the thrift plan and I’m not sure his wife was just sleeping either. I’m sorry I mean his friend

I thought the Thrift Plan died years ago too. If he is that far behind the times his ex is going to take him to the cleaners.

 

[IVE GOTTA PACKAGE 4U]

I thought the Thrift Plan died years ago too. If he is that far behind the times his ex is going to take him to the cleaners.

I think 95 was the last year

 

[Catatonic]

I don’t recall rolling it over to your 401k being one of the options.

Yes it was and that's what I did.
You had to take a cash payout of all your contributions but the gains could be paid out or rolled into an IRA at Wachovia (bought out by Wells Fargo in 2008-2009.

 

[Catatonic]

Same, because I would have done that.
Don't recall being able to convert it to stock, either.

The IRA option was in UPS stock.

 

[john chesney]

I think 95 was the last year

I think it’s safe to say with all the comments that we don’t know what the hell are options were or we don’t remember lol. I just have a feeling I got screwed some how lolol

 

[IVE GOTTA PACKAGE 4U]

I think it’s safe to say with all the comments that we don’t know what the hell are options were or we don’t remember lol. I just have a feeling I got screwed some how lolol

They didn't give us the option to put it in the 401k or I would have to avoid the penalty and taxes

I still made out okay on the deal.

 

[UpstateNYUPSer(Ret)]

Same, because I would have done that.
Don't recall being able to convert it to stock, either.

I do recall the stock option----it was right before the IPO.

 

[UpstateNYUPSer(Ret)]

Yes it was and that's what I did.
You had to take a cash payout of all your contributions but the gains could be paid out or rolled into an IRA at Wachovia (bought out by Wells Fargo in 2008-2009.

Merci.

 

[moreluck]

Ahhhhh, the IPO !!!! That's when we had to invest in 12 wheelbarrows.

 

[Catatonic]

Ahhhhh, the IPO !!!! That's when we had to invest in 12 wheelbarrows.

I guess you have lost a lot of weight since then?