Any tips for 401k, severance, counteroffers, etc?
8 replies (most recent on top)
Definitely use your rewards and monitor. Service rewards have to be used to purchase from the catalog, no gift certificates. Two items I ordered were canceled and I wasn’t notified. I called support and was told to reorder. The items were no longer available. My access to the site was no longer available. Once restored I had a day to find something new and my remaining points had been deleted and could not be restored.
Tell them you are "retiring". When you retire you get 10,000 living proof points ($1,000) to spend in the catalog
I, personally, would never accept a counter-offer. I say that regardless of the employer.
Use all the vacation you've earned. You might get lucky and your boss will let you give a longer notice, working the first two weeks and then taking the remaining time as vacation. That can help if bennies at your new employer don't start right away.
If you have special knowledge, pass it on. Don't be a jerk. Be helpful to your teammates. Leave with the best image possible.
Be very careful when/where/with whom you criticize old employers. Usually, it's just best to let it go and focus on the new place.
One last item - check to see if you have any unspent rewards. Even if it's just a bit, grab yourself a gift certificate to a restaurant. Buy gift certificates, not items. Any products on that site are usually available elsewhere for less.
Are you a remote employee? Don't bet on a counter-offer from Fiserv. There's a reason you were looking in the first place so I wouldn't accept a counter-offer anyway. You're just prolonging your agony.
Never take the counter offer.
When it is offered you will have two jobs to choose from.
If you take the counter offer, they will build up your replacement and drop you when it is convenient for them and inconvenient for you. You will have zero jobs to choose from.
That is just general advise. Not something you need to worry about. The only thing useful about the counter offer from Fiserv is that it is good for a laugh.
Depending on the size of your 401k leave it at ML, sell the trust securities and buy self directed stocks etfs or mutual funds. The 401 offers better protection from creditors than an IRA rollover. Using self direction you can invest as you see fit.
Don’t accept counteroffers and move on.
Obviously at your new spot and forward don’t trash your ex employer, even though it may be tempting. And it will be… lol!
Good luck to you in your new place and have a much better holiday season and new year.
It was announced last week, they close Phoenix December 31st. Don't know yet what happens to the people. Most being told they can work from home. But don't know how long that will last since Big Frank wants everyone to work from Berkley Heights.
Good luck! I am someone who moved out on my own terms ... You will be so glad and relieved you did. You will loose your bonus and stock options if you had any, these are something's you can negotiate at your new place. Some firms give you those as pro-rated joining bonus. Depending on your role they might consider a counter offer, but my advice would be that it isn't worth it.