UPSers (United Parcel Service) is the world’s advanced parcel delivery service, delivering more than 14-15 million packages to more than 7 million consumers worldwide. The UPSers.com 401 (k) Savings Plan is an optional defined supplement plan designed for employees of United Parcel Service of America, Inc. UPS who are not segments of an official agreement.
The plan is directed to the terms of the Employee Retirement Income Security Act (ERISA) of 1974, as amended. Participants should discuss the planning report for further complete data. On January 1, 2013, the 401k plan name was modified to UPS Savings Plan 401 (k) from the UPSer Savings Plan.
The 401k plan came into force on July 1, 1988, and has been frequently modified. The plan enables participants to concede a part of their coverage subject to the year 2013 Internal Revenue Service (IRS) annual limit of $ 17,500 on a pre-can and/or Roth source under Section 401k plan of the Internal Revenue Code (IRC).
The 401k plan also gives after-tax contributions. The company has developed a UPSers 401k plan for employees who work for the company. Hereby, several merits are available to avail of for the currently working employees.
Brief about the UPSers 401K plan
The UPSers 401k plan starts with a setback for the UPSers organization for its own good. The 401k plan is a particularly saving investment plan designed by the employer for the UPSer employees that allow employees to save and invest money in their wages before the tax bill amount is subtracted from their monthly salary.
UPSer 401K Employee Benefit Plan
Taxes are not subtracted until the money has been revoked from the bank. The 401k plan also acts as employer support for insurance for employees who leave the company untimely. Here you will locate the fundamental aspects of the UPSers 401k plan and tips to think before taking the plan benefits. Employees are only eligible for this specific 401k plan.