Thread regarding Bank of New York Mellon Corp. layoffs

ER Discretionary Discretionary Contribution?

I checked my 401k balance today and I have a $2345.76 “ER Discretionary Contribution” in by balance. It isn’t vested, though. Does anyone have an idea of what this is? Also why isn’t it vested?

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Post ID: @OP+15aupSHR

5 replies (most recent on top)

The key is 'no future liability'. So much for 'we're all in this together'. Part of the downfall of corporate America - no loyalty, next quarter's profits 'trumps' everything else. Sorry state of affairs.

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Post ID: @6ujx+15aupSHR

Since they stopped funding the Pension Pool, this is what they came up with. No future liability on the 2% added to your 401k and yes it is vested.

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Post ID: @6vjs+15aupSHR

2% profit sharing we receive every year. Becomes fully vested when you hit you 3 year mark.

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Post ID: @1kjv+15aupSHR

I don’t think that’s the case. Employer matching contributions vest immediately. I see those, and they’re fully vested, but I also see the “ER Discretionary Contribution,” so that’s something other than the normal emoter 401k match. Any ideas?

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Post ID: @1noz+15aupSHR

must be there 3 years for vesting of employer contributions

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Post ID: @1sfr+15aupSHR

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