A 401K is 100% yours. You don't understand how this works.
If you are talking about VESTED MATCHING FUNDS, that's different. Vesting only happens after a certain number of years (maybe 5?), and after that, the matching funds are also yours. Matching funds are usually no more than 20% up to a certain amount, then 0% above that amount. At best, matching funds rarely exceed $2k/year, and only if you put the max amount in required for you to qualify for the matching funds. If you put nothing in, you get zero matching funds.
Can drivers be forced to quit for being too old?
Discussion in 'Experienced Truckers' Advice' started by Zonno, Nov 12, 2023.
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RockinChair and Lennythedriver Thank this.
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In most 401k plans, you have to stay a certain amount of time to be fully vested in the plan, Usually around 5 years. For each of these 5 years you are vested 20% of the company matching funds. So if you leave after say 2 years, you get all the money you put in and 40% of the money that the company put in as matching funds. After you are fully vested, if you leave you keep it all.
There are tax implications though depending on if your investing funds were pre-tax or post-tax.RockinChair and Lennythedriver Thank this. -
get back to us when you are 65, have turned in your license voluntarily, and depend on everyone else for your transportation needs.dunchues, RockinChair, TripleSix and 3 others Thank this.
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Better than a physical from Dr. Gloveless.
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Wait a minute...he had BOTH hands on my shoulders!!Flat Earth Trucker Thanks this.
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If you didn’t spell “run,” it wasn’t consensual.Gearjammin' Penguin Thanks this.
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Yepbuddyd157 Thanks this.
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Dang, you guys are making me feel old, I hate that word. I turned the keys in last Friday. But listening to drivers talk about us, and we’re still running, good for them. We’re the last of the good ole days.
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There the best we have far as I can tell, always get the job done & never complain.roshea, Tug Toy and Gearjammin' Penguin Thank this.
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Never complain? Our older drivers complain. Sometimes they complain a lot. What they don't do is whine. No cry-babies here. No poor me. No pity party. No claims to entitlement.
But complaints? Yup. Except the complaints are more like constructive criticism, they usually come with a solution and whoever is on the receiving end would do well to listen.
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