Now thats funny!!!
401k Match...when is it coming back?
- Thread starter pbateman
- Start date
Now thats funny!!!
I am on 3-13s work 12 days a month. Oh but the OT sometimes has me up to 15 days a month.
Mine neither.
brownmonster
Man of Great Wisdom
That might be true but for the majority of the people it's the easiest way. I know I don't have the ambition to save for retirement on my own. You can buy your Puts and Calls and Shorts and all that stuff but for me the money coming off of the check makes for easy savings.
You're engaging in hyperbole. Just because it doesn't have all the specialized features that you personally want doesn't mean that it's useless. It's a tax shelter that's readily available to most working folks, and my little pig happens to be doing pretty well
beentheredonethat
Well-Known Member
AirBusfxr... UPS has multiple plans with the teamsters, IAM etc. In the case with union mgmt, for the vast majority (I believe it's 100%, but there could always be an exception). UPS contributes money on behalf of the employee into a pension fund for the person (similarly, they do the same for H&W). Some funds are doing pretty well as far as what it offers their retirees, and what their funding status, in others the payout is lower and funding status often is poor also. For most nonunion (mgmt, Admins etc) we had a pension and we had 401K matches. 401K matches were stopped a while back for mgmt\admins). For the younger folks, they changed their pension to some kind of portable pension so it was akin to extra money going to a 401K type fund. I'm not 100% on what it is, but that's the idea of it. Sounds like you have a great deal, yet ironically you are the one that bitches the most about the company making money and therefore you should get more. Keep in mind, the profit a company makes doesn't just go and sit in a vault somewhere. UPS profits first end up giving us a large tax bill we pay. Then after that, we have our net profits. UPS does pay the stockowner a dividend. The rest of the money largely goes to buying new airplanes, building new buildings, buying pkg cars, buying tractors, buying new diads, expanding worldport etc. The cost of the above mentioned items isn't in the cost that get reported, since that gets paid from profits. If UPS didn't make profits we couldn't take teh profits and expand worldport, buy vehicles etc. Only when we depreciate the cost of the buildings do we get to offset that against the earnings, but for most items that takes 100 months to depreciate. You make profit sound like an evil thing. UPS profits are only about 10% (possibly less), that's right one dime for every dollar brought in. If you owned a company and had sales of $250,000 you would only make 25K in profit, that's not all that much. Many companies make profits closer to 40 or 50 cents on the dollar. I don't see UPS having that kind of profit. What's your problem with profit?
oh oh now you done it.
fxdwg
Long Time Member
Why do we even have you here? I'm sure UPS would stop operating without your genius. For that matter UPS can farm out everything and really save some money.
1989
Well-Known Member
Good points...All I'm saying is there are better vehicles out there with less stringent rules. All you have to do is set it up on your own. At the very least you can set up a direct deposit. You can buy on weakness and sell on strength, which you cannot do in your 401K, all buys and sells are done at EOD. (that is the part I think is 15 years outdated) If you want to get more sophisticated you can hedge your risk so your little piggy doesn't lose 7% in a week.
fxdwg
Long Time Member
QUOTE=fxdwg;729087]Guess what's coming! Bye bye!!
[/QUOTE]
Come on DOLdwg! If we went back to the carriers...you would have nothing to do!!
I don't know about the DOL part, but I have nothing to do with you now. Just watching and buying/selling. Maybe BC is driving the stock down???
So, the Pilots that got let go.........how will that affect my Dividends and Calls?
[/QUOTE]Come on DOLdwg! If we went back to the carriers...you would have nothing to do!!
I don't know about the DOL part, but I have nothing to do with you now. Just watching and buying/selling. Maybe BC is driving the stock down???
So, the Pilots that got let go.........how will that affect my Dividends and Calls?
