UpstateNYUPSer(Ret)
Well-Known Member
There are fees---the company pays the bulk of those fees.
Are there 401k's out there that allow you to buy commodities?
UPS Special Pension Buyout Offer - December 2016
- Thread starter JMR07168
- Start date
There are fees---the company pays the bulk of those fees.
Are there 401k's out there that allow you to buy commodities?
PiedmontSteward
RTW-4-Less
US REIT INDEX we have access to in the fund is composed of property management companies that rent out properties, I believe:
I put about 20% in there and 20% in the balanced fund. I'm more aggressive with my other investments.
1989
Well-Known Member
The whole 401k sucks. Unnecessary fees, you can only buy paper, you really have no control. It's a big stock market scam.
UpstateNYUPSer(Ret)
Well-Known Member
Invest elsewhere.
PiedmontSteward
RTW-4-Less
I agree, its a stock market scam. But how do you think pensions are funded? They can afford to be a little more conservative than 401k plans as long as there are more active participants (people who the company is paying in on behalf of) than retirees but that money still has to grow somehow.
The fees in the UPS/IBT 401k plan are quite a bit cheaper than other plans and the plan revolves around index funds. Index funds consistently perform equal to (or even better) than actively-managed plans. I'd recommend watching John Oliver's expose on 401k's:
1989
Well-Known Member
I have since 2009. As of 2014 I no longer touch anything that is regulated by the SEC. But, unfortunately my 401k money is held hostage until separation.
1989
Well-Known Member
So if your pension is heavily invested in the market and your 401k is a well. Just maybe you have too much exposure to stocks.
UpstateNYUPSer(Ret)
Well-Known Member
We have no say in how our pension fund trustees choose to invest.
1989
Well-Known Member
Weather you have control or not, you are still affected by the results. You should be diligent upon the results.
UpstateNYUPSer(Ret)
Well-Known Member
To what end?
You should check out the REIT fund in our 401 good way to keep it balanced out. Up about 25% over the last year and averaged close to 15% since I moved about 20% of my ups 401 there in 2009 or 2010
UPSandy36109
Active Member
Since this is basically anonymous, I have no problem posting my anticipated numbers here.
I was disabled after 5 years and am due for $225/month plus or minus in 17 years. I was a PT unloader. I went on the pension plan website here someone provided and must have gotten the tables wrong, because from my calculations, my payout would be north of 30K.
If that's right, I'd be ecstatic. But if anyone can help me reasonably figure this out, I'd appreciate it.
I was disabled after 5 years and am due for $225/month plus or minus in 17 years. I was a PT unloader. I went on the pension plan website here someone provided and must have gotten the tables wrong, because from my calculations, my payout would be north of 30K.
If that's right, I'd be ecstatic. But if anyone can help me reasonably figure this out, I'd appreciate it.
I had 25 years in the company when I became disabled. 20 full time years driving a package car from which I am collecting a disability pension. Not a great pension but I'm not complaining. I did 5 years in p/t management way back in the beginning. I got a statement a few years back that I'll get aprx $435 p month starting at age 65. Is this subject to a buyout offer? Also I was just approved and collect ssdi does that have any bearing on if I can collect a percentage of the p/t pension earlier? Never really gave the p/t pension much thought. I'll have to dig the statement out of the file cabinet. Appreciate any input.
Dogsqueezins
New Member
Your thoughts anyone?
One year ago, CS said that in my retirement year of 2027 (I'm 54 now), my monthly benefit would be 758, but with the proposed reduction of their then proposed rescue plan, would be reduced to about 222 however, the letter also went on to say that if the proposed rescue plan was not accepted, UPS would make up the difference. I was in the transfer group and also just received the card/offer.
One year ago, CS said that in my retirement year of 2027 (I'm 54 now), my monthly benefit would be 758, but with the proposed reduction of their then proposed rescue plan, would be reduced to about 222 however, the letter also went on to say that if the proposed rescue plan was not accepted, UPS would make up the difference. I was in the transfer group and also just received the card/offer.
PiedmontSteward
RTW-4-Less
You'll be eligible for either the buyout for your PT years or 70÷ of your PT pension since you're now on SSID. You need to contact the UPS PT pension plan administrator.
Every little bit helps. Thanks for the reply.
PiedmontSteward
RTW-4-Less
If you're trying to get the pension under SSID, I'd recommend you contact the plan ASAP as they require a "timely" contact. My estimate would be that's within a period of months after approval of SSID.
I sent them an email. I didn't see a phone number on the statement. I just received the first ssdi check this month but was approved retroactively back to a date while I was still actively employed. SSDI approval process took 29 months from the day I applied.
scooby0048
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That's ridiculous, you could have been dead by the time they finally got around to finalizing it. There needs to be a better process for folks in your situation.
SSA backlog is crazy. Pretty much everyone under 50 years old gets denied right away unless you are terminal. Any ortopedic conditions (like 95% of UPS disability cases will be) have to go to a hearing with extensive medical evidence. On top of all that they closed one of their offices around here and are understaffed. They try to wait you out of the system. I guess it's in their best interest to make it as hard as they can.
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