United Parcel Service or UPS is the organisation that allows the employees and associates to access their data and personal information from anywhere via its online website. The employees and associates are assigned a unique username and password to login to their account to check information. UPS offers the employees or UPSers a 401K plan via UPS Teamster 401K Saving Plan as part of the retirement plan.
What is UPSer’s 401K Plan?
The UPSers 401 K Plan is the most convenient and efficient way for UPSers to save money for their retirement years. It enables the employees to invest and save money during their employment years for secure and safe living after retirement. As per UPSers 401K Plan, a specific percentage from your monthly income is set aside by the UPS, and as you retire, you can claim the saved amount for a secure and safe life after retirement.
Employees can check the complete details of UPSers 401 K Plan by logging into the UPS Enterprise Portal. Every employee is assigned a user ID and password that gives them access to the required information online. The username and password can be recovered from the “Forget Password” option. After logging into the portal, you can access all details regarding the UPSers 401K Plan via your account.
UPSers can also check the updates and latest news about the UPSers 401K Plan using the option “Plan News and Updates.” Employees can also check the “Contribution Limits” from the dashboard.
The Contribution Limits in The UPSers 401 K Plan
The option “Contribution Limit” is available on the dashboard of the enterprise portal of UPS. The option allows the employees to view the details regarding the employees’ construction in the UPSers 401K Plan. As per the rules of the 401K Plan, UPSers can contribute from 1% to 35% of their pre-tax compensation into the plan.
The Pre-Tax Contributions or Roth 401K Contribution is subject to an annual maximum dollar limit as per the applicable law. Employees are required to know their contribution limit for 2020, and this information is accessible from the dashboard of your account. The International Revenue Service or IRS sets the highest limit for contribution. Remember, the combination of the annual pre-tax and Roth 401K contribution must not exceed your annual maximum amount set by IRS. Many factors are taken into account to decide the set annual maximum dollar of an employee.
Access to Investment Support:
All employees are eligible for accessing the investment support offered by Voya Retirement in the UPSers 401K Plan. Employees are also allowed to contact their specific professional advisors online or by phone call. They need to log in to the account and call the available advisors to access the investment support in the UPSers 401 K Plan.
These are some of the details that you must know about the UPSers 401 K Plan. You must always keep checking your account for the latest news and updates on the UPSers 401K Plan. Contact the Voya Retirement Advisors when you need their assistance.