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UPS Discussions
UPS Health Benefits Shock for Retired Union Employees
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<blockquote data-quote="oldngray" data-source="post: 1074064" data-attributes="member: 45230"><p><strong>Re: Health Benefit Shock</strong></p><p></p><p>The 401k is something everyone should invest in but there is nothing great about the UPS plan. They add zero dollars to match employee contributions like many companies will do. You could have a 401k outside of UPS but while you are still working there is no real advantage to offset the convenience of payroll deductions. But after you retire, I suggest you leave the plan because you will be paying the administrative fees for nothing. I combined everything into a new IRA after I retired last year ( 401k makes no sense now that I stopped contributing ) which was better in my situation.</p></blockquote><p></p>
[QUOTE="oldngray, post: 1074064, member: 45230"] [b]Re: Health Benefit Shock[/b] The 401k is something everyone should invest in but there is nothing great about the UPS plan. They add zero dollars to match employee contributions like many companies will do. You could have a 401k outside of UPS but while you are still working there is no real advantage to offset the convenience of payroll deductions. But after you retire, I suggest you leave the plan because you will be paying the administrative fees for nothing. I combined everything into a new IRA after I retired last year ( 401k makes no sense now that I stopped contributing ) which was better in my situation. [/QUOTE]
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