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How long for retirement?

Discussion in 'Questions From New Drivers' started by Montgomery, Nov 30, 2014.

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  1. Nov 30, 2014 #1
    Montgomery

    Montgomery Light Load Member

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    This might be a silly question, but typically, how long do you need to be with a company for them to offer you retirement?
     
    Montgomery, Nov 30, 2014
    Montgomery, Nov 30, 2014
    #1
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  3. Nov 30, 2014 #2
    MACK E-6

    MACK E-6 Moderator Staff Member

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    A 401k plan is offered by most larger companies.

    But if you're referring to something like an actual pension plan or something like that, those are basically all long gone, unless you work for a union company.
     
    MACK E-6, Nov 30, 2014
    MACK E-6, Nov 30, 2014
    #2
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  4. Nov 30, 2014 #3
    Jumbo

    Jumbo Road Train Member

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    Usually the enrollment to start your retirement plan is on your one year anniversary. I am not sure if all companies are that way.
     
    Jumbo, Nov 30, 2014
    Jumbo, Nov 30, 2014
    #3
    Montgomery Thanks this.
  5. Nov 30, 2014 #4
    Jumbo

    Jumbo Road Train Member

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    And it isn't a silly question, we have had a lot dumber questions asked.
     
    Jumbo, Nov 30, 2014
    Jumbo, Nov 30, 2014
    #4
    Big Don, blairandgretchen and Montgomery Thank this.
  7. Nov 30, 2014 #5
    Nukem

    Nukem Road Train Member

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    A lot of the bigger companies will enroll you automatically now after 90 days. 401K programs will also roll over if you change jobs, but you have to move it over yourself once you meet the new company requirements.

    The IRS version:
    http://www.irs.gov/Retirement-Plans/401(k)-Plans

    The easy read version:
    http://www.practicalmoneyskills.com/personalfinance/lifeevents/benefits/401k.php
     
    Nukem, Nov 30, 2014
    Nukem, Nov 30, 2014
    #5
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  8. Nov 30, 2014 #6
    Allow Me.

    Allow Me. Trucker Forum STAFF Staff Member

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    What exactly do you mean by "retirement" ? There's lots of 401K plans now-a-days. A "retirement" pension ? That would be a union job with 20 yrs min working there.
     
    Allow Me., Nov 30, 2014
    Allow Me., Nov 30, 2014
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  9. Nov 30, 2014 #7
    thelushlarry

    thelushlarry Road Train Member

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    99 years!:biggrin_25523:
     
    thelushlarry, Nov 30, 2014
    thelushlarry, Nov 30, 2014
    #7
  10. Nov 30, 2014 #8
    XFM2013

    XFM2013 Light Load Member

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    I ask this question of the "senior" drivers in my barn everyday.....begging for a timely response :biggrin_25523:
     
    XFM2013, Nov 30, 2014
    XFM2013, Nov 30, 2014
    #8
  11. Nov 30, 2014 #9
    Montgomery

    Montgomery Light Load Member

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    Well I guess I was hoping there was a pension, but good to know the unionized companies offer it.
     
    Montgomery, Nov 30, 2014
    Montgomery, Nov 30, 2014
    #9
  12. Nov 30, 2014 #10
    Dogals right foot

    Dogals right foot Road Train Member

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    Retirement is as close as YOU can make it.
    Pensions are a thing of the past.
    Start planning now..401K,IRA put money away and leave it.

    FYI I'm on track to retire at 55..5 years away.
    More than likely I'll keep at it as long as I'm healthy.
     
    Last edited: Nov 30, 2014
    Dogals right foot, Nov 30, 2014
    Dogals right foot, Nov 30, 2014
    #10
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