I got my first round of layoff checks from Intel, still waiting on the 2nd round. I know when we worked there we would bank up a certain percentage of our income (up to 5%) into an Intel account. Then once Intel announced the SPP purchase price, they would use what's in our banked amount to purchase shares through UBS. I haven't seen any records via payroll that I've been refunded this money. If no one has seen it yet, maybe its on the 2nd round of money due at the end of June?
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Thank you everyone and @1nmg, that could be the defining difference from non-exempt vs exempt. I am non-exempt and didn't get the SPP refund yet. Looks like it's still a waiting game, can't wait for closure on all of this.
~OP
Exempt but no ESPP refund yet. Did get final May check and 1st six week severance pay. Called Intel HR payroll today and was told it would not come for another 3 pay cycles (6 weeks) after termination ISP date od 5/31/16. So Intel holds the money interest-free for 5+ months.
@HLtSx0Q-cqr is probably not hourly, I.e. an Exempt employee. I waa one and I got the same deposits as they did.
OP here, I got 3 payroll receipts explaining the initial deposits. One was my last check based on hours received and such, one was my Vaca and PA cashout, and the last was my 6w separation. I see nothing regarding the SPP in the breakdown, nor is it labeled as anything else. You didn't mention your Vaca/PA cashout, did you not receive that?
~OP
Yes. My SPP refund appeared as one of three deposits using the payslip mechanism at the end of May. One was my regular (last) payslip (less a few deductions); the second a taxed distribution of my 6w separation and for me an 8w sabbatical payout; the third my SPP refund which was obviously not taxed and a simple cash transfer from UBS.