401k Match

Discussion in 'XPO Logistics' started by sucker666, Jul 27, 2017.

  1. sucker666

    sucker666 Well-Known Member

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    Does anyone know off hand what the 401k match is for new employees?
     
  2. vppforme

    vppforme Member

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    The last I saw was new employees receive a 2% contribution from the company. I forget when the change happened but older employees are in the retirement savings plan (RSP) and the newly hired employees are placed in the personal savings plan (PSP)
     
  3. sucker666

    sucker666 Well-Known Member

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    Really? That's well below the national average. Is that all they ever get? That's pitiful if so.
     
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  4. sportsman800

    sportsman800 Active Member

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    Thats why no one with a cdl already doesnt hire on here we have to train part time dockworkers to get a cdl then fill there heads full of lies then they leave
     
  5. guitarman1

    guitarman1 Active Member

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    I'm sure they will up it now that we are making record profits...
     
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  6. sucker666

    sucker666 Well-Known Member

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    Then they wonder why you need a union . You can see by this how far they will go.
    I had no idea that they were under 3% . Why would anyone decent come here now ?
     
    Last edited: Jul 27, 2017
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  7. sucker666

    sucker666 Well-Known Member

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    Sad these Wall Street guys believe their the only ones who deserve reward for their work. What's even worse is we have guys on here that will defend this and say to hell with the new guys.
     
  8. vppforme

    vppforme Member

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    I think the 2% is fixed if you're in the PSP. If you're in the RSP it's a little better deal, dependant on your age and years of service.
     
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  9. boomer55

    boomer55 Member

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    There is no match that I know of, just a basic and transition contribution and based on years of service and age, don't know about new hires
     
  10. peachykeen

    peachykeen Member

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    I've been here for 8 years and 2% is all i ever got in my 401k
     
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  11. Songremainsthesame

    Songremainsthesame Well-Known Member

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    First 2 years I was there I didn't get anything, then they started the pittance 2% contribution.
     
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  12. sucker666

    sucker666 Well-Known Member

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    You better be putting every cent you can in or you'll never have anything at retirement..
     
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  13. upnorth

    upnorth Super Moderator Staff Member

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    You shouldn't rely on any company for your future. The pension is a non issue for most.
     
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  14. highspeeds

    highspeeds ENTERTAINMENT USE ONLY

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    Putting all of your money into any one investment let alone one you don't have control of is terrible advice.
     
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  15. Songremainsthesame

    Songremainsthesame Well-Known Member

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    Hell OD's retirement plan isn't much better though... they match 40% of the first 6%. The only redeeming quality is the year end discretionary deposit they put in as our profit sharing bonus. It's better than the Con-way bonus because the deposit into the 401 saves on taxes.
     
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  16. hotrodd

    hotrodd Active Member

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    OD puts in a fair amount every year dont they which probably makes yall's better than most. At the almighty BIG E we only get 50 cent up to 6%.
     
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  17. hotrodd

    hotrodd Active Member

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    Is that 2% of your yearly gross amount?
     
  18. peachykeen

    peachykeen Member

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    Yea 2% yearly gross paid quarterly
     
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  19. Songremainsthesame

    Songremainsthesame Well-Known Member

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    It ends up being a decent amount yes. Like I said, it's the saving grace of the plan.
     
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  20. Stand4afuture

    Stand4afuture Well-Known Member

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