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<blockquote data-quote="bacha29" data-source="post: 5445320" data-attributes="member: 58386">Now when a Ground contractor talks about offering benefits they are always very vague about how expansive are those benefits about those benefits actually are.&nbsp; Medical benefits:&nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; Who is covered? Does it cover spouses and dependents? How large are the deductibles and co payments? What is the maximum out of pocket? Is it on the basis of annual benefit year or per claim? Anything for dental or optical? Healthcare benefits in retirement? Sick pay benefits? Prescription benefits? HMO,PPO or something else? &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; And the big one.....Who pays the premiums? Pension &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp; &nbsp;&nbsp; UPS union drivers have a defined benefit plan based on years worked and hours worked per year. A 401K is littlemore than a defined contribution IRA. It&#039;s only as good as the dollars that are in it at the end. Sure, the employer might decide to make a very small low percentage contribution to the plan but can pull out of it anytime he wants using any number of excuses. Now can you imagine the size of the principal required to get even close to the monthly benefit a UPS driver gets? That little contractor 401K won&#039;t get within periscope range of that plan. So when a contractor starts telling you that he offers benefits.....make him show you good they actually are. If made to do so chances are the conversion will end right then and there.</blockquote>

[QUOTE="bacha29, post: 5445320, member: 58386"] Now when a Ground contractor talks about offering benefits they are always very vague about how expansive are those benefits about those benefits actually are. Medical benefits: Who is covered? Does it cover spouses and dependents? How large are the deductibles and co payments? What is the maximum out of pocket? Is it on the basis of annual benefit year or per claim? Anything for dental or optical? Healthcare benefits in retirement? Sick pay benefits? Prescription benefits? HMO,PPO or something else? And the big one.....Who pays the premiums? Pension UPS union drivers have a defined benefit plan based on years worked and hours worked per year. A 401K is little more than a defined contribution IRA. It's only as good as the dollars that are in it at the end. Sure, the employer might decide to make a very small low percentage contribution to the plan but can pull out of it anytime he wants using any number of excuses. Now can you imagine the size of the principal required to get even close to the monthly benefit a UPS driver gets? That little contractor 401K won't get within periscope range of that plan. So when a contractor starts telling you that he offers benefits.....make him show you good they actually are. If made to do so chances are the conversion will end right then and there. [/QUOTE]

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