When are portable pension contributions credited?

[clutternutter]

Hello all! Been lurking a while, now I have a question. When are the company contributions to our portable pensions supposed to be credited to our accounts? Each of the last two years both the final quarter's interest and the PPA contributions were credited on May 31, the last day of the fiscal year. This year, to date only the final quarter's interest has been credited, not the lump sum. Each day it is delayed reduces the interest the account earns. Does anybody have any more information than I could find?

 

[vantexan]

Are you sure about May 31st? That would still be in the last fiscal year. You'd definitely get your 1% on May 31st on your current balance, and as long as they put the contribution in by the end of August you'll get your 1% on it too. That's 4 1% interest payments before next contribution is credited.

 

[clutternutter]

I looked at my retirement benefits page (Hewitt). Entered May 30th as starting date and May 31st as ending date each of the last two years. It showed a lower amount as the beginning balance, then compensation credit, transition credit, and interest as of May 31st with about $6300 dollars credited on that date. Each of the last two years. That amount shows up on the statement we receive in August, but the statements lag by more than 2 months. The dollars were actually deposited in May.

 

[vantexan]

I looked at my retirement benefits page (Hewitt). Entered May 30th as starting date and May 31st as ending date each of the last two years. It showed a lower amount as the beginning balance, then compensation credit, transition credit, and interest as of May 31st with about $6300 dollars credited on that date. Each of the last two years. That amount shows up on the statement we receive in August, but the statements lag by more than 2 months. The dollars were actually deposited in May.

Best bet is to call the Retirement Service Center. But since it's 1% a quarter in interest you probably aren't losing much, if anything. They can't short everyone on interest without being at risk of committing a criminal act.

 

[UpstateNYUPSer(Ret)]

I looked at my retirement benefits page (Hewitt). Entered May 30th as starting date and May 31st as ending date each of the last two years. It showed a lower amount as the beginning balance, then compensation credit, transition credit, and interest as of May 31st with about $6300 dollars credited on that date. Each of the last two years. That amount shows up on the statement we receive in August, but the statements lag by more than 2 months. The dollars were actually deposited in May.

When you use the "$" there is no need to add the word "dollars". $6300 dollars is redundant.

 

[Cactus]

When you use the "$" there is no need to add the word "dollars". $6300 dollars is redundant.

 

[UpstateNYUPSer(Ret)]

Did I miss the memo that today is "Post A Selfie Day"?

One of my pet peeves is people using the word dollars and the dollar sign as well as people who insist upon posting $.99 as .99 cents, which is wrong.

 

[dezguy]

 

[STFXG]

Did I miss the memo that today is "Post A Selfie Day"?

One of my pet peeves is people using the word dollars and the dollar sign as well as people who insist upon posting $.99 as .99 cents, which is wrong.

$0.99.

 

[OrioN]

nah, it's

$0.99¢

 

[Goldilocks]

Clutternutter, was just asking a very good question, no need to be rude upstate

When you use the "$" there is no need to add the word "dollars". $6300 dollars is redundant.

Time for you to go run your route instead of making fun of Clutternutter for asking a very good question.

 

[clutternutter]

I just got off live chat with the retirement people. The contribution was made on June 1, but will not be reflected on the website until June 8. And my most humble apologies to Upstate for the grievous error, I hope I didn't upset you too badly.

 

[cosmo1]

Did I miss the memo that today is "Post A Selfie Day"?

One of my pet peeves is people using the word dollars and the dollar sign as well as people who insist upon posting $.99 as .99 cents, which is wrong.

Wanna know one of my pet peeves?

 

[Operational needs]

Wanna know one of my pet peeves?

Do tell, Cosmo.

 

[burrheadd]

Wanna know one of my pet peeves?

I do!

 

[cosmo1]

Do tell, Cosmo.

I do!

^^This guy knows.

 

[IVE GOTTA PACKAGE 4U]

^^This guy knows.

Good beer?

 

[Turdferguson]

Wanna know one of my pet peeves?

Apples?

 

[Mr. 7]

I gotta say, Dave is really turning into a large penis head.
Stay outta FedEx topics, bro!

 

[big idea]

Did I miss the memo that today is "Post A Selfie Day"?

One of my pet peeves is people using the word dollars and the dollar sign as well as people who insist upon posting $.99 as .99 cents, which is wrong.

One of my pet peeves is a person getting hit by a car while doing a route.You can buy a good safety vest for $19 dollars and .99 cents.I hope my spelling and grammar is in errorr.