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TForce | What happens with 401k?

Overnite said:
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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Right now, if I'm not mistaken, you have a Overnite/UPS pension and a 401K, right?

Well the Teamster pension will replace your Overnite/UPS pension.

If UPS still wants to give you the option of having a company 401k that will be their call not the Teamsters.

If UPS decides to not offer the 401k that will also be there call.

I don't beleive there are any 401k's negioted into any Teamster Contracts (to my knowledge).

Again if the union is voted in you willl have a contract negioted for you and waht is in the contract is up to you.
Leave your suggestions in the proper post and see where it goes. http://www.truckingboards.com/trucking/upload/showthread.php?t=3969

If the boys in Indy don't know what you would like in the contract then they don't know what to ask for.
 
401k

UPS union and Non Union employees are both offered a 401K program to enroll in. Actually both administered by the same company. UPS non union employees get a match of 50 % of the first 7% in UPS stock. If we loose our match and gain good delay pay and time on the clock pay instead of clicks for drops and hooks etc. I will take my gained money from that and invest it where I please and probably come out ahead.:14:
 
Teamster251 said:
Just so you have it straight,

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

I have both.
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You have two 401k accounts? I didn't think this was allowed under federal law.
 
Old School said:
UPS union and Non Union employees are both offered a 401K program to enroll in. Actually both administered by the same company. UPS non union employees get a match of 50 % of the first 7% in UPS stock. If we loose our match and gain good delay pay and time on the clock pay instead of clicks for drops and hooks etc. I will take my gained money from that and invest it where I please and probably come out ahead.:14:
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You need to look into that savings account right now. Are you sure you can reinvest? It doesn't matter if your union or not, stick with a good 401k it's proven that most americans can't save money.
 
pgh1994 said:
You have two 401k accounts? I didn't think this was allowed under federal law.
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Yes I do, but only one is contributed to.

I no longer work in freight so my freight 401k is just sitting there collecting money while my UPS 401k grows weekly with my contributions.

Like I mentioned I can not roll over my balance from one into the other. The groups won't except it.

If it is against the law then I'm a criminal....LOL
 
Teamster251 said:
Like I mentioned I can not roll over my balance from one into the other. The groups won't except it.
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Hey T251,

You should be able to roll your 401K from when you were in freight right into the UPS Teamster 401K.
 
gater said:
Hey T251,

You should be able to roll your 401K from when you were in freight right into the UPS Teamster 401K.
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Can't be done, already tried.
Becuase of the type of plan, the funds can not be transfered into a new or existing plan.

Believe me if I could I would it would only benifit me to do so.

Doesn't matter, the way I have it invested it has tripled over the last four years and not a dime has gone into it since May '04.:Banane01:

Thank anyways gater for the thought.
T251
 
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