Hey southerngrits! Got a Question for ya!

[wkmac]

Been some posts about the 401k plan at Overnight, now UPS Freight concerning the company match. Did/Does Overnight/UPS Freight match any of your contributions to a 401k and if so what is the percentage? Not trying to play any games here, just interested in you take on what you guys get.

BTW: Welcome to the family and make yourself at home. Also I envy you guys getting to have Jack Holmes become your senior VP and IMO the first UPSer who will become Presdient of UPS Freight and he also headed up the transition team. Jack is awesome. I got to work with Jack when he was the Div. Manager in my building and then left and came back as our Dist. manager only to be moved over to head the Overnight deal. They don't come any better IMO.

 

[southerngrits]

Been some posts about the 401k plan at Overnight, now UPS Freight concerning the company match. Did/Does Overnight/UPS Freight match any of your contributions to a 401k and if so what is the percentage? Not trying to play any games here, just interested in you take on what you guys get.

BTW: Welcome to the family and make yourself at home. Also I envy you guys getting to have Jack Holmes become your senior VP and IMO the first UPSer who will become Presdient of UPS Freight and he also headed up the transition team. Jack is awesome. I got to work with Jack when he was the Div. Manager in my building and then left and came back as our Dist. manager only to be moved over to head the Overnight deal. They don't come any better IMO.

I think it is matched 50% up to a certain amount.... I am not quite sure the numbers but I will find them out for ****s and giggles....I am very much looking forward to working under Jack and his dedication to UPS. We still have alot of Overnite Management and the thinking is just not the same as UPS. Thank you for welcoming me also... I also want to thank Cheryl, man she's on the ball..............

 

[Old School]

Our match is 50% of the first 7% contributed. It is matched in UPS stock only.

 

[Buckethead]

Our match is 50% of the first 7% contributed. It is matched in UPS stock only.

What does matched in UPS stock only mean? I'm a UPSF employee also, first that I'm hearing of this.

 

[Equalizer]

Buckethead you asked,

What does matched in UPS stock only mean?

Our 401k is matched 50% up to 7% of your weekly gross earned income. Overnite used to match this with cash that you could invest with through the offered portfolios. It is now matched with class A common stock instead of cash.

Hope this helps

Equalizer