Thread regarding Intel Corp. layoffs

Over 60 termination and RSU acceleration.

Intel's policy is that at termination and if you are over 60, you will receive 1 year extra RSU vesting for every 5 years of LOS. It is called "Rule of 60" and you don't have to meet any of the other retirement rules,i.e., rule of 65, etc.

I don't trust Intel to give those who are eligible this willingly, as your actual LOS is never even mentioned in the separation paperwork. Straightforward for most, but not for those who came to Intel via acquisition.

I got my actual LOS used for severance pay and for the Rule of 60 RSU acceleration years from HR.

Check UBS One to see if Intel has even indicated to UBS that you are terminated. For those ISPed, this should of already happened as our last day was May 30th. And UBS should reflect that.

Hope this helps someone over 60 who might not know about the "rule of 60".

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If you qualify for accelerated RSU vesting under the rule of 60 (or 75), you will find out in the 4th quarter of the year. IRS rules require you to pay FICA taxes (Social Security and Medicare) on this accelerated vesting even though you have not received the stock. Intel sends an email to affected employees and deducts the FICA taxes over three paychecks starting in November of each year. You will receive those stocks when you leave Intel for any reason. I can't imagine them trying to rescind this accelerated vesting. That sounds like a formula for IRS action.

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