Joined: 06 Jan 2008
Posts: 1137
Location: A Place Where No Thongs Are Not Allowed
| Posted: Mon Jul 28, 2008 8:09 pm Post subject: YOUR PROFIT SHARING PLAN IS CHANGING!?!?!?! | |
Does anyone have any information or advice about the new changes to the profit sharing? 
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Joined: 13 Mar 2008
Posts: 70
| Posted: Tue Jul 29, 2008 10:24 am Post subject: | |
| I just got my packett in the mail yesterday. I have not viewed the info on the cd yet but after reading the print material, it looks like the updated choices will be good... more investment directions will be available. | |
Joined: 06 Jan 2008
Posts: 1137
Location: A Place Where No Thongs Are Not Allowed
| Posted: Tue Jul 29, 2008 3:27 pm Post subject: | |
| Did you see the part that says that if you choose AFTER TAX contribution, you do not get the company match? | |
Joined: 06 Jan 2008
Posts: 1357
Location: It's NewDepotGuy - Using Acid to open Polli's special safe!
| Posted: Tue Jul 29, 2008 4:40 pm Post subject: | |
| You always want PRE Tax don't you? It makes your physical take home pay more. | |
Joined: 06 Jan 2008
Posts: 1137
Location: A Place Where No Thongs Are Not Allowed
| Posted: Tue Jul 29, 2008 5:37 pm Post subject: | |
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Yes, PRE tax is the way to go, but some people do choose AFTER tax, and they too should be eligible for the company match. Why else put your money in there?
A friend of mine knew that she would be building a house within the next few years, so she did AFTER tax, so she could use some of the money for things she wanted for her house. Of course, they do charge a penalty, but the money is easily accessible, as opposed to PRE tax, which you can only get in the case of financial hardship. I did see with the new material that we can now borrow our money, and then pay it back. |
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Joined: 03 Jan 2008
Posts: 809
Location: ole wrap stand
| Posted: Tue Jul 29, 2008 6:16 pm Post subject: | |
| Well I am looking at it..myself.. | |
Joined: 06 Jan 2008
Posts: 1357
Location: It's NewDepotGuy - Using Acid to open Polli's special safe!
| Posted: Wed Jul 30, 2008 1:39 am Post subject: | |
| MAYcylady I went to Macy's today and dusted off my Macy's card, can I borrow some money for when that pesky bill comes in? | |
Joined: 06 Jan 2008
Posts: 1137
Location: A Place Where No Thongs Are Not Allowed
| Posted: Wed Jul 30, 2008 1:45 am Post subject: | |
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Ummmm....NO! Here I am trying to get a package, and you go and spend your money at Macy's! What are you trying to do to me????
What did you buy? |
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Joined: 06 Jan 2008
Posts: 1357
Location: It's NewDepotGuy - Using Acid to open Polli's special safe!
| Posted: Wed Jul 30, 2008 2:11 am Post subject: | |
| Well thats not fair. I supported Macy's South not Macy's Florida. I boycott the Florida Stores to help you. As a matter of fact I have boycotted the entire state of Florida to make sure I don't help Macy's Florida. (Just ignore my brief trip through Pensacola) | |
Joined: 30 Jan 2008
Posts: 172
Location: Somewhere under all the new teacher paperwork......
| Posted: Wed Jul 30, 2008 4:28 pm Post subject: | |
| hehe I am boycotting the stores in FL too. I just got a coupon for the free pair of panties that you earn when you buy 6.... I am trying to figure out how to spend it at my macys incognito | |
Joined: 06 Jan 2008
Posts: 1357
Location: It's NewDepotGuy - Using Acid to open Polli's special safe!
| Posted: Wed Jul 30, 2008 9:53 pm Post subject: | |
| Wear a fake nose, mustache, and black rimmed glasses. Then style your hair different and dress masculine. If anyone asks you are a realtor from Miami looking to buy panties. | |
Joined: 03 Jan 2008
Posts: 809
Location: ole wrap stand
| Posted: Wed Jul 30, 2008 10:47 pm Post subject: | |||
I always taken it after tax..its not that much of difference..I figure it out..and Why would I want MACYS TO CONTROLL my money.. 
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Joined: 06 Jan 2008
Posts: 1137
Location: A Place Where No Thongs Are Not Allowed
| Posted: Wed Jul 30, 2008 11:08 pm Post subject: | |
| But did you see that you will no longer receive the company match of....(drumroll).....33 & 1/3 cents????? | |
Joined: 06 Jan 2008
Posts: 1137
Location: A Place Where No Thongs Are Not Allowed
| Posted: Wed Jul 30, 2008 11:09 pm Post subject: | |
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I actually WISH I had done AFTER tax, so I could get the money when I want it. I saw a VERY cute Audi convertible with my name on it....
Polli, they are still controlling your money, b/c you have to pay a penalty every time you take some out. |
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Joined: 14 Jan 2008
Posts: 271
| Posted: Thu Jul 31, 2008 5:15 am Post subject: | |
| the new plan is gonna suck. only briefly read the paper work. they are changing some of the investment choices. they are dumping the Russell 2000...which i like myself. oh well. what are you gonna do? my brother in law which works for the company that runs the SAT's dumped profit sharing altogether. ya never know. | |
Joined: 06 Jan 2008
Posts: 1137
Location: A Place Where No Thongs Are Not Allowed
| Posted: Thu Jul 31, 2008 11:07 pm Post subject: | |
| Russell 2000 has been loosing for a while now. | |
Joined: 03 Jan 2008
Posts: 809
Location: ole wrap stand
| Posted: Fri Aug 01, 2008 1:51 am Post subject: | |
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I was looking at the ROTHS investment..but the CD dont work in my lap top..
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Joined: 06 Jan 2008
Posts: 1357
Location: It's NewDepotGuy - Using Acid to open Polli's special safe!
| Posted: Sun Aug 10, 2008 11:05 pm Post subject: | |
I did my benefits packages before tax since I wouldn't see the money anyways.. Though I don't get profit sharing  Just a fantastic retirement plan........
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Joined: 12 Dec 2007
Posts: 318
| Posted: Mon Aug 11, 2008 12:56 am Post subject: | |||
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Joined: 06 Jan 2008
Posts: 1357
Location: It's NewDepotGuy - Using Acid to open Polli's special safe!
| Posted: Mon Aug 11, 2008 12:59 am Post subject: | |
| It seems to me that if there is no dollar for dollar match by Macy's then the plan is worthless and you would be better off... | |
Joined: 07 Sep 2008
Posts: 2
| Posted: Wed Sep 17, 2008 1:11 am Post subject: Merrill Lynch | |
Now our pension and 401K plans are with Merrill Lynch, which was just acquired by Bank of America. Time to worry?  Here's an article:
http://www.usnews.com/blogs/planning-to-retire/2008/09/15/how-the-merrill-lynch-acquisition-will-affect-your-401k.html |
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Joined: 19 Feb 2008
Posts: 163
| Posted: Wed Sep 17, 2008 2:33 am Post subject: | |
| We are in hard times right now. Many of the Big companys are going under. I just hope macys don't go out of business. We need to ask for a pay cut. Maycylady we NEED your help when you come in next time, please ask for a pay cut. Thank you! LOL | |
Joined: 13 Mar 2008
Posts: 70
| Posted: Wed Sep 17, 2008 12:57 pm Post subject: | |
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Money, you really are quite a comedian... paycut my butt.
I was not very pleased to hear about Merrill Lynch especially since we can't roll over any of it until we retire or leave the company. It seems the BOA takeover will be the best possible solution as long as they don't collapse after taking on Countrywide and now Merrill. |
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Joined: 19 Feb 2008
Posts: 163
| Posted: Wed Sep 17, 2008 1:36 pm Post subject: | |||
I hope they don't get to big for they own good, and collapse. Look at Macys, overnight they doubled in stores and it was very hard for them to manage so many store. We thought macys was going to collapse. |
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Joined: 15 May 2008
Posts: 155
| Posted: Wed Sep 17, 2008 8:01 pm Post subject: | |
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Well, with the way that they treat their workers, I wouldn't be surprised if something like that has happened. Hate to sound like a prophet and doom and gloom; however, there has come times when stuff like that has happened. To see what I mean, go to the incompetent manager thread for a sampling.
And to a degree, Macy's did not double in size overnight. They bought May Co, and semi-slowly changed the stores, and redid them all overnight. The changes were mentioned. It wasn't as though May was bought in an hour, every store shut down, and rebranded. |
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