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TForce | 401K, Pensions

Overnite said:
Last year the price that we bought the company match stock at was set at $59, today it is worth $74.48 How did we lose by getting the match in stock? The way I see it we gained.
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Unless you made poor choices your cash match enabled you to buy more diversified shares in your 401k. Even a moderate selection outperformed UPS stock.
Cash match is allways better.
Stock match may have ended anyway as Countrywide employees are sueing Countrywide for that very reason. Countrywide was the #1 home lender in the US a couple years ago, now its worthless.
 
Overnite said:
Last year the price that we bought the company match stock at was set at $59, today it is worth $74.48 How did we lose by getting the match in stock? The way I see it we gained.
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I don't understand? Are you talking about buying stock separate from what the company used to match our contribution?
 
liebstandarte said:
Can we roll the UPS Savings plan money into the UPS/teamsters 401k ?
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This is what I am waiting to see. I thought it would automatically transfer over after enrollment in to the Teamster/UPS National plan. I would like to keep building off of what I already have. I have received the new 401k plan booklet in the mail, but it did not say whats going to happen or what we are supposed to do with this money from the old company 401k plan. I have not watched the CD yet.
 
jakebrake12 said:
You are correct that you do not need a match to plan for retirement. They do help though. on page 7 of this thread I posted some projections based on having the match and not having it. Over time that can make a huge difference. Do I understand that instead of the match to the 401k, they give you stock instead? What determines how much you get? Is this separate from the 401k all together?
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The stock match was part of the 401k plan. It showed your stock dollar amount and then your total amount on your plan statement.
 
BusterNite said:
I don't understand? Are you talking about buying stock separate from what the company used to match our contribution?
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The company matched you cash, which was then used to buy more shares in your 401k. Your rate of return averaged between 6-21% depending on your selections and how long you left it in those selections.
The stock match stayed outside the 401k and only gained at the success of the individual company. 401k shares are diversified.
 
BusterNite said:
This is what I am waiting to see. I thought it would automatically transfer over after enrollment in to the Teamster/UPS National plan. I would like to keep building off of what I already have. I have received the new 401k plan booklet in the mail, but it did not say whats going to happen or what we are supposed to do with this money from the old company 401k plan. I have not watched the CD yet.
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It's already moved over to the Teamster/UPS 401k. All you have to do is make your selections again.
 
Any Ideas as what to do with this stock we have now? I was thinking of just sitting on it rather than rolling it into the 401k as cash.
 
Pension Payment Update ....

..... I received my Direct Deposit Summary for my pension payment yesterday - and it is no longer being paid by SunTrust Bank out of Atlanta.

Starting May 1, 2008 it is being paid out of "UPS Retirement Plan", Pittsburgh, PA.

I did not post this to cause an uproar, I posted it to update everyone on a change many of us never thought we would ever see.

Darkstar
 
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