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TForce | What happens with 401k?

Overnite

Overnite

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If the union gets voted in, does there pension plan replace our 401k?

Or does the teamsters administer our 401k?
 
Just to add to what stldude said. The Teamsters do have their own 401K through Massmutual. There is no match but it is available
 
401 K

stldude44 said:
The Teamsters will not touch your 401K. It will more than likely freeze once the Contract is negotiated.
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Let's try this again .If you vote in the Teamster's Union .The UNION will NOT touch your 401 K .UPS might send out info as to give you ideas for your 401 K.
That MONEY IS YOURS .No one can touch it!!
 
That one ,I cann't answer . I don't work for UPS. Just passing thru ,thought I'd try and help alittle .I'm sure that someone that does work for Big Brown will jump in shortly!
 
greezy trucker said:
Doesn't UPS employees have one, its just that UPS doesn't contribute or match?
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You are correct, GT. There is a UPS/Teamsters 401(k), but the company does not match anything. Yet that is... that is a possibility in the next contract.
 
The teamster pension plan will not replace your 401k?

All of my years in the UPS Teamster 401K is listed with Citi Bank and the Vanguard roll over are listed as UPS savings plan. All of my current contributions are being deposited into my UPS savings plan. My teamster one is listed right above UPS savings plan. I show three accounts Teamster UPS 401K, UPS savings plan and my stock balance. All of my current contributions are going into my UPS savings plan and my stock plan. Your 401K will stay with Citi Bank. If we go union your future contributions to your 401K would more than likely be listed into the Teamster UPS 401K depending on the contract language.
 
Mike01 said:
You are correct, GT. There is a UPS/Teamsters 401(k), but the company does not match anything. Yet that is... that is a possibility in the next contract.
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Mike, there is also a Teamster 401K for non UPS members. It's administered through Mass Mutual
 
Johnnybegood said:
Our non Teamster 401k is through City street.And we are matched 50% in UPS stock.....:wacko:
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But, UPS Feeder Drivers have no match. If we get the same kind of contract, I would think that we would loose our match. My new friend, UPS Feeder drivers says that their 401k is through the Teamsters and non - union UPS employees and management get 100% match on the first 3%.
 
Johnnybegood said:
Our non Teamster 401k is through City street.And we are matched 50% in UPS stock.....:wacko:
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$.50 on the dollar up to the first 7% is what UPS matches for UPSF.
 
pgh1994 said:
This is something Indy should have thought of before they made their choice.
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I wonder how long it will take for some of the Indy folks to realize they might have shot themselves in the foot. Lets see what the health insurance for the Indy folks will cost.
 
bamaboy said:
But, UPS Feeder Drivers have no match. If we get the same kind of contract, I would think that we would loose our match. My new friend, UPS Feeder drivers says that their 401k is through the Teamsters and non - union UPS employees and management get 100% match on the first 3%.
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If you do the math 100% match on the first 3% verses $.50 on the dollar up to the first 7% is about the same.
 
gater said:
If you do the math 100% match on the first 3% verses $.50 on the dollar up to the first 7% is about the same.
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UPSF workers get more of a match than non-union package workers.
 
Just so you have it straight,

UPS/Teamsters 401k is different from Freight/Teamsters 401k.

I have both.
My Freight can't be rolled over into my UPS. They are administered by two different groups.

Both, however are offered to you being a Freight Teamster or a UPS Teamster.

You may or may not be qualifed to enter either one becuase you will not be covered by either contract.

But as stated, your 401 you have know is yours, it's your money and will not be touched by the Teamster or anyone else, so relax.

Also no match on either plan, it was just something to offer those that wanted a way to save money for the future but use the 401K system to make more of their saving then a passbook type plan.

Works for me, both of mine are doing great, growing like me kids did. Only my 401k doesn't need car insurance or new clothes for college.

Later T251
 
there seems to be alot of people trying to read into my question, all I wanted to knowwas if the union is voted in will ups still keep our 401k goining, or does the teamster pension plan replace it?

So basically it would be up to the teamsters to negoitiate that with ups, we may still keep the 401k with ups goining?
 
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