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The Latest UPS Headlines
UPS to Offer Employees a Way to Save for Emergencies
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<blockquote data-quote="cheryl" data-source="post: 4654237" data-attributes="member: 1"><p><strong>UPS to Offer Employees a Way to Save for Emergencies - Wall Street Journal</strong></p><p><strong></strong></p><p><strong>Shipping giant joins other companies offering rainy day funds in 401(k) plans</strong></p><p></p><p>United Parcel Service Inc. is expected to announce Thursday a plan to offer nearly 100,000 of its workers a way to save for emergencies within its 401(k) plan, becoming one of the largest U.S. employers to join a trend that reflects concern over the impact of workers’ financial problems on their ability to retire.</p><p></p><p>The program gives UPS employees the option to divert a portion of their paychecks into rainy-day funds within their 401(k) plans.</p><p></p><p>In recent years, a growing number of employers have grown concerned that if employees are unable to cover unexpected expenses, they may resort to raiding their retirement savings early, said Timothy Flacke, executive director of Commonwealth, a nonprofit that builds tools to help low-income workers save.</p></blockquote><p></p>
[QUOTE="cheryl, post: 4654237, member: 1"] [B]UPS to Offer Employees a Way to Save for Emergencies - Wall Street Journal Shipping giant joins other companies offering rainy day funds in 401(k) plans[/B] United Parcel Service Inc. is expected to announce Thursday a plan to offer nearly 100,000 of its workers a way to save for emergencies within its 401(k) plan, becoming one of the largest U.S. employers to join a trend that reflects concern over the impact of workers’ financial problems on their ability to retire. The program gives UPS employees the option to divert a portion of their paychecks into rainy-day funds within their 401(k) plans. In recent years, a growing number of employers have grown concerned that if employees are unable to cover unexpected expenses, they may resort to raiding their retirement savings early, said Timothy Flacke, executive director of Commonwealth, a nonprofit that builds tools to help low-income workers save. [/QUOTE]
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