Will we ever get our 401k company match back? The economy has obviously rebounded from the low point and seeing as I got the standard 2% raise & they TOOK away 3% by taking away the match, it would seem only fair for them to re-institute the match!!
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If you separate from Fiserv AFTER age 55, you may want to consider NOT moving your 401k to an IRA to take advantage of the IRS “Rule of 55”. If you leave your job at age 55 or older and want to access your 401(k) funds, the Rule of 55 allows you to do so without penalty. Whether you've been laid off, fired or simply quit doesn't matter—only the timing does. Per the IRS rule, you must leave your employer in the calendar year you turn 55 or later to get a penalty-free distribution. Google it or check the IRS website. It’s true.
https://www.experian.com/blogs/ask-experian/what-is-the-rule-of-55/
https://www.irs.gov/taxtopics/tc558
It is at Merrill now.
https://www.benefits.ml.com/
You must be retired because there were many notifications mostly through email.
Maybe move your 401K into an IRA so Fiserv doesn't have any control over your money?
Id like to know where the hell my 401k went to!! Fiserv took it away from Vanguard and moved it somewhere else with no notice!!!!!!! Vanguard does not seem to know and Fiserv is not returning calls. WTF?
Q4 would be a good guess in return of 401k match
He wants to bring it back but it costs too much, sorry really want to
@2sgw+15CDZ39R I guess Fiserv was broke also since they were 6 billion in debt before the merger.
Frank said on a rally today that he wants to bring back the 401k.
Yep OFS was kind enough to cover that negative balance for OFD and then let OFD run the company. Nice deal if you can get it.
Hmmm, when my bank balance is 18 billion overdrawn I am broke. Unless I deposit enough to clear that OD I am still broke until that debt is satisfied.
@2guv+15CDZ39R you should read the deal again. The debt load from first data has caused some doubts with the Fiserv stock, and you are seeing company analysis saying buy something else. Based on the numbers, you were burning office supplies and desks to stay warm.
Bring the 401K match back? HAHAHAHAHAHAHAHAHAHAHAHAHAHHAHA. Not under FB watch.
read the acquisition deal again!
To those who aren't knowledgeable Fiserv did not save First Data in any way because the business didn't need to be 'saved'. First Data was profitable since 2015 and had been retiring their debt early.
You seem nice
Prove it
STOP - unless you’re in Senior Management your attacks of one another won’t get you ahead. I worked for both companies. Both companies have talented, dedicated, overworked and undervalued resources. Your loyalty to OFD of OFS is stupid. Frank isn’t loyal to any of you! Stop attacking one another. You’re in this together fighting an evil, greedy corporate monster. Your new colleagues are NOT your problem.
They literally have nothing to prove to you, you have to prove it to them. This is not a hard concept
You mention the employee survey. Unfortunately, the survey is just like “best places to work” most admired company” awards - bought and paid for. I hate to be the bearer of bad news. Sure, you take the survey, and you even get threatened if you don’t, but; the results are manipulated - always have been. The results, if you ever get to see them have been softened and the comments that are really difficult to digest are removed or suppressed so deep you never see them. The lie that they tell the street is always the same - nothing to see here!
No the point that OFD have taken most senior leadership roles and big salaries is not lost. Now they have to prove they are deserving. Fiserv paid your debts for mismanagement and crimes. Now prove you are worth it. I have seen such a great pool of leaders and rank and file from both organizations. But those with the toxic attitude that people who are remote are lazy and doing nothing, well re-examine that thought. Fiserv has had large remote workforces for years and we were making money. So the concept that the new leadership has that one must see their coworkers in co-located environments is from the 1970’s and is obsolete. The new leadership is looking to save money, well real estate is a good place to start by closing down leased buildings and selling off the furniture. Fiserv did this already and we used to have one of the happiest workforce’s in corporate America because we were treated like professionals and delivered results no matter where we work. Can’t wait to see how that will change on our survey this year under our new leadership and how unit managers will be held to task for the sins of the executive leadership. So yes, I know who is in charge and where to money is flowing. But those people have to prove they are up to the task and can deliver on their lofty promises. Fiserv clients have high expectations.
You may be missing the point of who won the integration. OFD got the $$$ AND the leadership roles
I find irony in the clearly OFD person stating fiserv staff particularly those who WFH are lazy and just picking up a paycheck. Need you be reminded that fiserv money bought the debt of the failed First Data and the failure of your leader and sadly the one who will now be the collective ours. I plan to give FB the benefit of the doubt and hope I am proved wrong and that he will bring continued success to the new fiserv. As for you, you are the toxicity that all fiserv employees wish would go. Every OFD person I have met in the rank and file are wonderful, positive and want success. You want an old failed status quo from First Data. That failure that you boast is what put the for sale sign out. I just wish Fiserv would have waited and bought the leftovers after it was shut down and the failed leaders had been put out rather than brought in to spoil the formerly great culture of fiserv and truly happy, productive employees. I have some hope for our collective future, each company brought great strengths to the table. Your toxicity is not one of them and you are the problem that needs to go. Not fully functioning employees who WFH.
Holy sh–
Maybe once we dump the lazy OFS staff who's only goals are to hide in a WFH position and collect a paycheck we'll get the match back. FB's taking over in a week OFS babies; Let the slaughter begin!
Once a benefit disappears, it never comes back. Over the years, I have observed that management looks for a pretext to eliminate a benefit which becomes their public reasoning for eliminating a benefit.
Never. They were just waiting for a reason.
Consider yourself lucky you got the 2%. Many didn’t.
I don’t see the 401k match coming back during Frank’s tenure.