We all know PSP is paid out first paycheck of August, based on employment through the fiscal year. If employment ends between June 1 and August 11 (Aug 12 is PSP Payday), will you receive your "earned" bonus. Curious if anyone knows the answer to this?
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To he-l with PSP, profit sharing, and stock options too. I am walking away fro Nike for a better everything including the mentioned benefits above. Nike’s management are all toxic except for few but they are powerless to make any felt change. Next week and I am done, finally!
@bdr, both
Historically you will qualify for PSP if you’re still employed thru May 31. But things are always changing around here so if you’re quitting between June 1 and early August you’ll want to get confirmation from HR before just assuming PSP will be paid to you. It’s also good to quit early in the month because your health insurance always runs thru the end of the month.
@mok, so it that "Yes" you know or "Yes" will the bonus be received? :)
To clarify - Yes the PSP bonus will be received if you work through the last day of the Fiscal Year which ends May 31st.
June 3rd is a good day to resign as it's the end of a pay period, you'll get the PSP and resigning at the beginning of the month means your medical benefits will remain in place through the end of June.
Not that I've been thinking about this at all.
Yes,