Eric Zeemen
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UPS RAISE
OD RAISE
Where is XPOs raise ????
XPO | Where is our RAISE
- Thread starter Eric Zeemen
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UPS RAISE
OD RAISE
Where is XPOs raise ????
Really..wtf
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We make plenty of money. Waiting on a better 401k match.
You speak for yourself - you speak for "me" not "we"
As far as a better 401k contribution. It's based on your pay. So , if you make more , the contribution is more.
Really..wtf
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Well, I’m not speaking for anyone but myself. However every one would always take more money if given to them but how much harder are you willing to work for it? The wage in this industry is a good living if you are good with math and discipline. You would be incorrect on the 401 the max match is 4% no matter how much you put in. I would like to make more from the money they pay us currently.
Brad ?
Really..wtf
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You can call me educated.
Streaker69
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You're not allowed to have an opinion that is different than Mr.Sucker666 AKA OV-10. When you do, he resorts to name calling and wild accusations. For example, the Republicans have paid me to jump on truckingboards to push their narrative and he's too smart to fall for it.
Really..wtf
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I gave a simple fact that he cannot dispute. 4% is the max match no matter how much you contribute. We do make a prevailing wage and yes we do work hard long hours for it. Do we deserve more to stay competitive with competition? That’s for them to decide if they can retain employees. Those are facts they can call me whoever they want me to be.
It's not a match , it's a contribution. You don't have to put anything in to receive your 4%.
A match would require a contribution from you.
In general , as there's been a push for more money as living expenses rise , things like retirement have been overlooked and/or ignored.
There's a website that I posted awhile ago that grades company retirement plans. I can't imagine that XPO's is highly ranked. Among other LTL's , XPO is probably bringing up the rear too. I recall seeing FedEx Freight have a contribution to their 401k go as high as 8% in certain situations.
No F-bdy Bs
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Cripes! UPS is over $40hr?
That's a solid +$10hr over damn near everyone!
That's a solid +$10hr over damn near everyone!
Really..wtf
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Finally we agree, but the contribution is 3% with no contribution and 4% with us putting in at least 6%. I agree we are way behind on retirement contributions from all LTL companies. This is why I say they need to concentrate on retirement benefits.
I forgot to add there are at least two retirement plans for the drivers , a legacy plan for those here before 2011 and those hired after 2011. Each one has it's different set of rules and savings rates.
If your ok with it that’s all that counts. A bunch of us think there’s much room for improvement. We agree the 401 k is lacking at best. Xpo driver deserve much better.
They certainly do.
Fly-by-night
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I know there is/was a difference plan before I was hired (2014) but this is what most fall under (hired after 2011). I will say that Con-way plan when I got hired sucked. Con-way held you money for 3 month before giving to you. Now we get a match every week plus now have a choice of the ROTH inside our 401K. Unless you need the tax sayings I would put all of it into the ROTH side of the 401K.
This is right off the employee portal:
You are eligible for Company contributions after you have completed one year of service. Once you are eligible, you can receive additional money toward your retirement when you make before-tax or Roth contributions to the Plan. All employees will have an opportunity to receive a 4% company match. For every $1.00 you contribute up to 5% of your pay, XPO will add to your account $1.00 on the first 3% of pay you contribute and $0.50 on the next 2% of pay you contribute. If you’re not contributing 5% yourself, you’re missing out on additional money from XPO Logistics for your future.
Company contributions are invested in the same way that you invest your own contributions.
For additional information on the company-paid contribution, please refer to the Summary Plan Description.
This is right off the employee portal:
You are eligible for Company contributions after you have completed one year of service. Once you are eligible, you can receive additional money toward your retirement when you make before-tax or Roth contributions to the Plan. All employees will have an opportunity to receive a 4% company match. For every $1.00 you contribute up to 5% of your pay, XPO will add to your account $1.00 on the first 3% of pay you contribute and $0.50 on the next 2% of pay you contribute. If you’re not contributing 5% yourself, you’re missing out on additional money from XPO Logistics for your future.
Company contributions are invested in the same way that you invest your own contributions.
For additional information on the company-paid contribution, please refer to the Summary Plan Description.
Fly-by-night
Only when you care to send the very best
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unless you were hired before 2011 you are wrong. Go up and read post #17. You MUST put in atleast %5 to get the 4%.
Fly-by-night
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Most forget to add which plan they fall under. To get this discussion straight post if you were hired before or after 2011
Commercial Drivers in general are behind on their pay.
Full stop.
For the amount of time and effort it takes to do your job along with the risks you assume when doing your job , the compensation is totally out of line. ( For most truck driving jobs , not all truck driving jobs )