UPS Teamsters 401(k)

Unified Parcel Services (UPS) is among the largest freight-handling companies in the world. While they are best known for their freight and courier services, they also have subsidiary arms, like the UPS Store. UPS works with several unions, with the largest union being Teamsters. The UPS Teamsters 401(k) plan is offered to these workers as part of their compensation plan.

UPS Teamsters members are immediately eligible to participate in the company’s 401(k) plan. They do not, however, offer any employer match, as the company also has a company pension and other perks that are negotiated with the union. You can contribute any amount of pay you wish, although you will be automatically enrolled at 3% in your first year, rising by 1% annually until it reaches 10%. You can increase that limit, or opt out of the plan, on the www.teamsterups401kplan.com website.

UPS Teamsters 401(k) provider

The UPS Teamsters 401(k) plan is now provided by Empower Retirement. If you instead recognize Prudential Retirement, don’t worry; Empower acquired Prudential in 2021, and you can access your 401(k) account on the Empower website.

Eligible plan participants can manage their 401(k) benefits directly through Empower’s Portal. You will be required to create your User ID and password on your first login. You will also find a link to the portal on www.teamsterups401kplan.com.

UPS Teamsters 401(k) login

If you need to access your UPS Teamsters 401(k) plan, you can do so through Empower’s online portal or find the link on www.teamsterups401kplan.com. If you have forgotten your account username or password, simply use the User ID/password recovery options on the login page. You must set up the login credentials on your first login.

UPS Teamsters 401(k) match

There is no company match from the UPS Teamsters 401(k) plan as they also offer eligible members a standard pension. Some direct non-union UPS employers, such as UPSFreight, do receive a limited company match, while other unions have negotiated other perks. If you are a UPS division member or union member not with Teamsters, speak to your rep about the specifics of what you are eligible for.

UPS Teamsters 401(k) customer service

You can get in touch with the UPS Teamsters 401(k) plan customer service at 800-537-0189. Representatives are available between 8 am and 9 pm ET. There is also an automated help system that runs 24/7.

UPS Teamsters 401(k) loan

The UPS Teamsters 401(k) plan will only allow you to take hardship loans, not general loans. You can borrow up to $50,000 or 50% of your plan, whichever is less. The minimum you can take is $1,000.

To qualify for a hardship loan, you must be facing unplanned and unprecedented costs like unexpected burial expenses, medical expenses, non-insured damage to a primary home, certain types of educational fees, or foreclosure or eviction. You can also take a hardship loan to buy or build a primary residence.

UPS Teamsters 401(k) after termination

Once you leave employment, you must decide what to do with your UPS Teamsters 401(k) plan. If the plan balance is under $1,000 and they receive no instruction from you, it will be paid out in cash.

Balances above $1,000 but below $5,000 will be rolled over to an IRA picked by the plan. If your balance is above $5,000, you can choose to leave the sum invested with the UPS Teamsters 401(k) plan, but you will not be able to make new contributions.

You could also choose to roll it over to a qualified IRA or new employer’s 401(k) plan. If you have a financial emergency, you can withdraw your, but be aware that you will owe income taxes and a potential penalty if you are younger than 59 ½. 

UPS Teamsters 401(k) withdrawal

If you are over 59 ½ years of age and still working, you may withdraw all or part of your plan (i.e. installments) as you choose. In-service withdrawals can be requested through the Plan's website, www.teamsterups401kplan.com, Empower’s Portal, or by calling 800-537-0189. If you are younger than 59 ½, you can only make a hardship withdrawal if you qualify, or take a hardship loan to preserve your balance.

UPS Teamsters 401(k) early withdrawal

You can only withdraw from your UPS Teamsters 401(k) below the age of 59 ½ if you qualify for a hardship withdrawal. A hardship withdrawal covers unexpected medical expenses, burial expenses, home repair expenses, the purchases of a primary home, some educational fees, and eviction/foreclosure. You will need to exhaust your after-tax contributions, rollover contributions, and old employer matches first, before you can be eligible for a hardship withdrawal.

UPS Teamsters 401(k) rollover form

You can request the forms for a rollover through your account on Empower’s online portal, call the plan helpline at 800-537-0189, or find the forms in the forms category on the www.teamsterups401kplan.com website.

UPS Teamsters 401(k) account number

If you need to find your UPS Teamsters 401(k) account number, the easiest path is to log onto Empower’s online portal, where it will be indicated under your profile. Alternatively, you can contact the plan customer representatives at 800-537-0189 to request it, but you will have to answer some verification questions to do so.

UPS Teamsters 401(k) phone number

The UPS Teamsters 401(k) plan has a dedicated helpline you can use at 800-537-0189. There is an automated help system running 24/7, and customer service representatives are available between 8 am and 9 pm ET on weekdays. 

UPS Teamsters 401(k) administrator

The UPS Teamsters 401(k) plan is administered by Empower Retirement and the Board of Trustees, five members of which are appointed by UPS and five are appointed by the International Brotherhood of Teamsters. You can contact them through Empower customer support at 800-537-0189. You can also write to them using this address: Teamster-UPS National 401(k) Tax Deferred Savings Plan Prudential Retirement P.O. Box 5640 Scranton, PA 18505

UPS Teamsters 401(k) eligibility

Eligible employees can enroll in the UPS Teamsters 401(k) plan as soon as they are employed full-time by UPS. You will be enrolled at a 3% pre-tax rate, which will increase annually by 1% until it reaches 10%. You can opt-in to higher increases.

If you wish to opt out of the plan or change contributions percentages, you need to do so through the www.teamsterups401kplan.com website. Former employees who return to the company will also be eligible immediately as long as they have been gone for 5 years or less.

UPS Teamsters 401(k) vesting

You are fully vested in your UPS Teamsters 401(k) plan at all times. You will always have access to your contributions no matter how long you have been with the plan. Since there is no match, there is no waiting period for that, either.

UPS Teamsters 401(k) app

If you want to manage your UPS Teamsters 401(k) plan on your phone, you should do so through Empower Retirement’s app. This can be found on the Apple App Store and Google Play.

UPS Teamsters 401(k) summary plan description

Every participant in the UPS Teamsters 401(k) account should receive a summary plan description when they get enrolled in the plan. It is freely available for download on the www.teamsterups401kplan.com website.

You can also request a copy by calling the helpline at 800-537-0189. If you want to receive a paper copy, you can make a formal request in writing via the following address: Teamster-UPS National 401(k) Tax Deferred Savings Plan Prudential Retirement P.O. Box 5640 Scranton, PA 18505.