401K Changes for non-union employees

[UPS UPS UPS]

Did anyone get a notice regarding 401K changes? The notice says the formally restricted stock match portion of the 401K can be transfered into the UPS savings plan (non-restricted) plan. Once transfered it can not be reinvested in UPS stock for a period of one year.

It seems odd to allow this and then restrict the re-purchase of UPS stock.

Is there something more comming?

 

[beentheredonethat]

Did anyone get a notice regarding 401K changes? The notice says the formally restricted stock match portion of the 401K can be transfered into the UPS savings plan (non-restricted) plan. Once transfered it can not be reinvested in UPS stock for a period of one year.

It seems odd to allow this and then restrict the re-purchase of UPS stock.

Is there something more comming?

I read something about these changes. Not sure about the one year freeze on reinvesting in UPS Stock. However, it's really an irrelevant point, since if you do really want to invest you can move money to the self managed account and then invest in most anything you want. I think the main reason for the changes, is to prevent the possibility of law suits in the future. More and more of a person's retirement is going to be based on 401K, if a company matches with stock and doesn't let you transfer the match they provided. Would they face lawsuits down the road if the stock goes down in value. I think that is the reason for the changes.