UPS Special Pension Buyout Offer - December 2016

[Shecoope]

Anybody check their accounts yet

 

[burrheadd]

Anybody check their accounts yet

Are you going to ask everyday until you get your money?

 

[IVE GOTTA PACKAGE 4U]

Anybody check their accounts yet

Got mine yesterday


Merry Christmas!!!


Wooo

 

[UpstateNYUPSer(Ret)]

Anybody check their accounts yet

Which one? Checking? Savings? Traditional or Roth IRA? Rainy Day?

 

[Shecoope]

Got mine yesterday


Merry Christmas!!!


Wooo

Seriously???

 

[Shecoope]

Which one? Checking? Savings? Traditional or Roth IRA? Rainy Day?

Checking???

 

[Shecoope]

Are you going to ask everyday until you get your money?

I’ll ask again next week

 

[IVE GOTTA PACKAGE 4U]

Seriously???

I was surprised myself

 

[UpstateNYUPSer(Ret)]

Annoying----see also @Shecoope.

 

[Shecoope]

Plus another 10% penalty for early withdrawal and you will still owe your state taxes. Also, this will count as ordinary income so your income tax bracket has most likely changed. Better set some aside to pay to the IRS in April.

I live in Texas we don’t have state taxes

 

[Shecoope]

Now I see what the company is doing.

They are direct(ly) depositing only the cash out portion of the lump sum payout, less the 10% penalty and 20% taxes, and they are mailing a check for the balance. If you deposit the check in to an approved retirement account (IRA, 401k) within 60 days you will not be charged the 10% or 20%. If you decide to keep the money it will be treated as a distribution and you will be charged both the 10% and the 20%.

Question so the 20% will be taken out before they direct deposit it or will I have to wait till tax season to pay the 20%

 

[Shecoope]

I was surprised myself

Did you get rollover check or paper check or direct deposit

 

[burrheadd]

Question so the 20% will be taken out before they direct deposit it or will I have to wait till tax season to pay the 20%

Wow! are you this annoying in real life?

 

[Shecoope]

Wow! are you this annoying in real life?

I was just asking a simple question no need to be rude

 

[IVE GOTTA PACKAGE 4U]

Did you get rollover check or paper check or direct deposit

Had it sent directly to my IRA

 

[IVE GOTTA PACKAGE 4U]

Wow! are you this annoying in real life?

Turning you on?

 

[Shecoope]

Had it sent directly to my IRA

Hmm kinda too early still haven’t seen direct deposit yet

 

[IVE GOTTA PACKAGE 4U]

Hmm kinda too early still haven’t seen direct deposit yet

I'm sure it will be soon

 

[Shecoope]

I'm sure it will be soon

You right I completed my paper work October 13 so i should be in first batch

 

[burrheadd]

I was just asking a simple question no need to be rude

But, you didn’t answer my question