Go here.
http://www3.prudential.com/email/retirement/IMFPWeb/hosted_websites/cs/teamsters/index.html
Click on access your account. Sign up. It's a good thing. I used it and I'm glad I did, I'm retired now.
That’s what I did. It says it can’t find my account based on the information I put in.
YesYou clicked on "Register Now" under "New User"?
I had the same problem after numerous phone calls to prudential it turned out that when they issued those stock shares YRC crossed the last two digits of my social when they gave prudential my info and that’s why it wasn’t coming up. Go to contact us link and should be a phone number for you to contact them and they can check all your info with you to see if it’s correct. Hope this helps.That’s what I did. It says it can’t find my account based on the information I put in.
I had the same problem after numerous phone calls to prudential it turned out that when they issued those stock shares YRC crossed the last two digits of my social when they gave prudential my info and that’s why it wasn’t coming up. Go to contact us link and should be a phone number for you to contact them and they can check all your info with you to see if it’s correct. Hope this helps.
I had the same problem. Your current company has to have HR send you a registration form. I had the same problem. Went from YRC to ABF and they need the consent form to directly take a 401k withdrawal from your pay without taking taxes out first.Go here.
http://www3.prudential.com/email/retirement/IMFPWeb/hosted_websites/cs/teamsters/index.html
Click on access your account. Sign up. It's a good thing. I used it and I'm glad I did, I'm retired now.
I am actually getting more back from my contributions than I will from the pension. I encourage guys to sign up and manage their accounts.Go here.
http://www3.prudential.com/email/retirement/IMFPWeb/hosted_websites/cs/teamsters/index.html
Click on access your account. Sign up. It's a good thing. I used it and I'm glad I did, I'm retired now.
Because this you can do pre tax. You could do a regular IRA as well, but a Roth is post tax .Forget the high cost teamster 401k and just get you a Roth ira at Schwab or fidelity. They don't have a match anyway so what's the point.
Because this you can do pre tax. You could do a regular IRA as well, but a Roth is post tax .
Even without a match you still gain compound interest and the return rate is actually higher than our pension plans. You do have to manage your account though if you are wise.
Personally I divide it evenly 4 ways only. 25% high risk or return- 25% medium- 25% low risk- 25% foreign holdings.
Check the portfolio on line, it offers foreign mutual funds within the package as well as the low risk mutual funds. There are actually a few options with prudential in their portfolio so pick the one that suites you.25% low risk-- foreign holdings---cayman islands?
Forget the high cost teamster 401k and just get you a Roth ira at Schwab or fidelity. They don't have a match anyway so what's the point.
No matter where you go there will be fees. Anyone is wise to start 401k unless you are very near retirement, here are reasons why.
1. Roth Ira has a $5,500 limit for under 50 years old $6,500 for over 50 all money goes in after tax.
2. Ira has same limits as Roth, but will go in pre tax.
3. 401k has $18,000 limit under 50 and $24,000 limit over 50 and goes in pre tax.
It is wise to invest in both 401k and roth. 401k money will be tax at your tax rate at retirement.Roth grows tax free.
Nice thing with Roth is you can withdraw principal money not growth money if an emergency arises.
If you put $10,000 in a 401k you will not pay any tax on that money when put in, so the 15% that would go to Uncle Sam stays in account and grows instead of going in Uncle Sams pocket.
There are several web sites that you can find online to see how much 401k money will grow just Google
401k INVESTMENT CALCULATOR.
The young guys really need to get seriously thinking NOW about retirement for thee reasons.
1. Don't count on any pension.
2. Don't count on Social Security.
3. Don't wait the longer you wait the bigger the burden, find a web site calculator and start playing with the numbers, you will be shocked what $100 a week for 30 years will do.
One more thing is if your spouse has a 401k with match, consider maxing out theirs to get the match.
Also if you decide to do a Roth, you can do $5500 for yourself and do a separate account for your spouse and put in $5500 in hers per year as well.