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ODFL | 401k Question

This doesn't help much but from the OD website:

Financial and Personal Development Benefits​

We are invested in the success of our employees
  • 401K match*
    • *There is a guaranteed match on weekly contributions as well as an annual discretionary match based upon the company’s net profit after taxes.

So the match will change based on company profit.
 
They offer the almost standard 6% match on 401k
The Discretionary Match is the match based on profits, and is almost always larger than the basic 401k match.
Good luck in your job search, as much complaining as you'll see here sometimes OD is still one of the premier driving jobs in the industry.
 
DayliteDean said:
They offer the almost standard 6% match on 401k
The Discretionary Match is the match based on profits, and is almost always larger than the basic 401k match.
Good luck in your job search, as much complaining as you'll see here sometimes OD is still one of the premier driving jobs in the industry.
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Unfortunately it seems that as ex Holland driver they are reluctant to hire. the Yellow curse is the gift that keeps on giving.
 
dokman said:
Unfortunately it seems that as ex Holland driver they are reluctant to hire. the Yellow curse is the gift that keeps on giving.
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I had several union jobs in my history, although OD acquired me in a buy-out, there's a couple other former union employees at my barn as well. I think age will probably determine a hire more than where they came from. I'm 64 I seriously doubt I could hire on now at any of our LTL competitors.
 
DayliteDean said:
I had several union jobs in my history, although OD acquired me in a buy-out, there's a couple other former union employees at my barn as well. I think age will probably determine a hire more than where they came from. I'm 64 I seriously doubt I could hire on now at any of our LTL competitors.
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So you’re saying since I am 60 years old 5’11” 300 pounds and walk with a limp and have tattoos on my neck my chances aren’t good?
 
dokman said:
So you’re saying since I am 60 years old 5’11” 300 pounds and walk with a limp and have tattoos on my neck my chances aren’t good?
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I feel like you might benefit by just calling and asking if you could stop by and speak with the TM at the terminal that you are applying for after the inbound rush and before the outbound push.

All of our terminals are secured with electronic gates and you have to be buzzed in. Then you have to sign in at the office. Some terminals won’t just let you in if you stop by, so definitely check with the TM first.

A bunch of the guys at my barn used to be Teamsters.
 
DayliteDean said:
I had several union jobs in my history, although OD acquired me in a buy-out, there's a couple other former union employees at my barn as well. I think age will probably determine a hire more than where they came from. I'm 64 I seriously doubt I could hire on now at any of our LTL competitors.
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Nonsense, they would hire you just because of your avatar. :6788:
 
So is that a 50% match on 6% that is standard?
DayliteDean said:
They offer the almost standard 6% match on 401k
The Discretionary Match is the match based on profits, and is almost always larger than the basic 401k match.
Good luck in your job search, as much complaining as you'll see here sometimes OD is still one of the premier driving jobs in the industry.
Click to expand...
DayliteDean said:
They offer the almost standard 6% match on 401k
The Discretionary Match is the match based on profits, and is almost always larger than the basic 401k match.
Good luck in your job search, as much complaining as you'll see here sometimes OD is still one of the premier driving jobs in the industry.
Click to expand...
 
Ok, if I'm mistaken, tgen maybe someone can correct me.Daylite Dean is right. They match .50 cent on the dollar, up to the first 6%. In the spring, if OD hits their profit mark, then they take a portion of the profit made over that mark, and add an additional discretionary match to your 401k. The discretionary, the way I understand it, is in proportion to your investment. The higher the % you put in your fund, the higher your discretionary match.
 
Hoot 6474 said:
Ok, if I'm mistaken, tgen maybe someone can correct me.Daylite Dean is right. They match .50 cent on the dollar, up to the first 6%. In the spring, if OD hits their profit mark, then they take a portion of the profit made over that mark, and add an additional discretionary match to your 401k. The discretionary, the way I understand it, is in proportion to your investment. The higher the % you put in your fund, the higher your discretionary match.
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Exactly right. There wasn’t a year in 17 years that I never got the Discretionary match. The last 6 years it was big because I had a maxed out percentage going into the 401k.
 
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