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United Technologies Corporation Message Board

  • m08827565 m08827565 Jul 21, 2013 11:40 AM Flag

    interest rate

    Does anyone who tracks the savings fund for utx think that the rising interest rates will help us out by raising the saving fund rate???????????

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    • Keep this in mind as far as the Income Fund portion of the UTC 401 - You are now being charged an administrative cost of 3/10 % (.003) per thousand you have in there. For every $100,000, you will be charged $300 per year admin costs. For someone who has $500,000 in the income fund, they will pay $1,500 a year. Lousy, huh! I hope rates go up next quarter. Maybe they will up what we get paid.

      • 2 Replies to airbornetrppervet
      • So, Airborne, let me try to understand: The declared rate for Q3 is 3.3%, but they are taking back 3/10% for their administrative fee? So the effective rate is 3.0%? A not very attractive rate, without the fee, but less so if you have that kind of admin costs.

      • Airborne, thanks for the info, I was not aware of the cost issue being that much, I guess I need to start doing some more research, but that does suck (pardon my language). I am retired from Pratt and do not keep up with this stuff like I need to maybe I need to go in a different direction with by savings. I am not in any stock and savings is the only think I have left in 401k and I do have a chunk of change sitting there and having to pay almost that much for it just to sit there is the pits. Thanks again.

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