FDX Bonus Thread

[Diesel]

Anybody have any info on the Bonus? Can it be rolled right into the 401k? Why are they taking capital gains out of it? Anyway to defer it over a couple of quarters or do you have to take it at 2 installments.

I'm just trying to do some financial planning. I'd like to dump it all into a 401k so there are no taxes. Has anybody done this? And will the company match their required amount?

 

[80for80]

You'll be taxed, then you can put it in your 401K if you like. How come you guys didn't get any retro?

 

[52560]

Delete

 

[Stan]

You'll be taxed, then you can put it in your 401K if you like. How come you guys didn't get any retro?

Seriously, Go back to school and get a degree. Preferably in Business.

 

[FDXer]

Bonus check is visible on the green screen already. My $14Gs turned into less than 10 with taxes...

 

[VaB]

I'm sending it straight to my PayPal account and then going right to Ebay and blowing it all in one drunken stupor of "BUY NOW" button pushing.

"why didn't we get retro?" what a doosh.

 

[Huck]

Govmint do take a bite, don't she....

 

[Falconjet]

Somebody has to prime that teat.

FJ

 

[Diesel]

Why can't you take the bonus and roll it directly into the 401k and have the company also match at their measley percent but at least you avoid taxes.

Is anybody doing this?

 

[Fox-Tree]

Why can't you take the bonus and roll it directly into the 401k and have the company also match at their measley percent but at least you avoid taxes.

Is anybody doing this?

You probably could have designated those funds to go into your 401K (not 100% sure about that but it seems reasonable). But, that's not something you could make happen now, this late. Even if you wanted X% of you pre-tax pay to start going into your 401K, it takes a couple of pay periods for the deductions to kick in. Once you are paid the money, you can't "untax" it and put it back in the system to then get put in your 401K. The best you can do with $ in your hand (whether it's from a previous paycheck or the bonus that almost here) is put in your 401K in an after tax status. If you want your bonus to go in your 401K, call Vanguard and they'll tell you where to send the check once you get it. Maybe you could at least check with them concerning the 2nd installment next year. You might be able to avoid the taxes on that part of the bonus by sending it directly to your 401K. Tell us what they say.

As far as the matching goes: If you've been contributing to the 401K already this year, chances are the matching limit is already been met. They only match .50 per dollar for the first $1000 you put in ($500 total each year - max). If you haven't been contributing, you probably have missed out on the 2006 money just due to the delay in processing. If you got on the phone today (or maybe Monday depending on their business hours), you might be able to allocate at least $1000 from your mid-Dec paycheck. They said it takes 1 to 2 pay periods for the deduction to start.

As far as other retirement issues goes: The bonus is pensionable re: the A-fund and the company will make B-fund contributions at the new 7% for whatever amount you get.