Thread regarding Honeywell International Inc. layoffs

401K Match Date

Does anyone know what day of this month that the 401K Match for 2018 will be released to employees?

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Post ID: @X5J0obk

21 replies (most recent on top)

If HON closes books on calendar basis and tax return is due March 15 then 401k match is due by March 15. So legally they can delay the deposit but even if you quit today they will need to pay you the match by March 15. Only if they file to delay their tax return can they delay the match past March 15

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Post ID: @X5J0obk-bjwu

@X5J0obk-9amq

I wouldn't worry about not getting the match. We will probably get it at the last day of January. Stocks are going up so of course they are waiting for them to get higher so we get less value.

If they screw us over I'm sure a lot of people will bail this sinking ship. It will motivate me enough to actually leave.

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Post ID: @X5J0obk-9spc

I don't know what everyone else is thinking but I'm starting to get worried. 2/3 of the month is gone and no word of actual award date or individual amount. I called One Stop and Fidelity . Both said they have zero info. Are we about to get shafted again?

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Post ID: @X5J0obk-9amq

Also, we have not had that money in the market for most of the year, which is a loss of interest, while h'well has gained on our match funds in a growing market. It's like when you get a big tax return.

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Post ID: @X5J0obk-6xxt

The thing in front is a decimal point.

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Post ID: @X5J0obk-6zkm

Like I said, I was being conservative. So let's just say, "closer to .5B than .2B.

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Post ID: @X5J0obk-6yxw

To -6ewa: Check your math. You're off by an order of magnitude: 100,000 x 60,000 x 0.07 = 420M.

As for why the amount they report is even lower than that: 401(k) only applies to US employees so that 100k number is actually much smaller. Also, you'd be very surprised how many people who are eligible don't participate in the program or don't contribute enough to get the full match. And not just HON employees. It happens throughout the country. Yes, people leave free money on the table.

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Post ID: @X5J0obk-6lnn

And, how is the email from corporate stating the match payout is less then 200M? If 100,000 employees contributed 8% to the fund, at an average salary of 60K(which is conservative), the payout should have been .5Bil or higher. What the fark is going on?

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Post ID: @X5J0obk-6ewa

To 3znq, stfu a'hole. You are an HR drone, or mgmt who watches this board. Eat a dik and hope we don't find you..

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Post ID: @X5J0obk-6wdj

Laughing at folks here that think the stock price has anything to do with the match.

Its based off what you contributed, nothing to with stock performance.

Forgot what the math is now, 75% match? So they give you .75 for every 1.00 you put in up to 8% for the year. Thats it. Zero to do with stock performance throughout the year.

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Post ID: @X5J0obk-6lyq

Just like they string out suppliers, they string out the employee benefits.

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Post ID: @X5J0obk-3svh

Usual bunch of whiney snowflakes commenting. Be greatful you still have a job ffs. It should be done by the end of the month ffs W2's aren't even out. People need to chill tfo!

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Post ID: @X5J0obk-3znq

They've literally had all year to make the calculation. What should have happened is the match being applied to employee contributions throughout the year in a ghosted account that is revealed the day it was supposed to be awarded, including dividends and price changes. It says a lot that the delay has everyone thinking they're going to get screwed, because we probably are.

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Post ID: @X5J0obk-3xdj

Remember, 7% lump sum is not better than 7% bi-weekly. They telling you 7% lump sum is better than old plan (6% bi-weekly) is hog -wash. You have to compare equal rates with the different methods .

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Post ID: @X5J0obk-2nje

Disappointing, sure, but not surprising.

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Post ID: @X5J0obk-2qes

They are probably waiting for the day when stocks are high so that way they give you as little as possible. Calculating....yeah right. Even a 3rd grader can do the math in a few minutes.

The fact that it takes them so long to give you an earned benefit is very disappointing.

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Post ID: @X5J0obk-2lxt

By Jan 31 2019.

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Post ID: @X5J0obk-1cal

The number of shares in match depends on which day they use at what the price was per share. The amount of money (the 7% of gross if you went with atleast of 8% 401K contribution ) is reflected in the number of shares issued when match is given.

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Post ID: @X5J0obk-1sdp

They will come up with some blaming the spinout shares

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Post ID: @X5J0obk-nqc

They are likely scheming behind the scenes to determine how little to give you without being sued, considering the downward movement of the stock price this year. Dec 17th closing price was $134.38, and it fluctuated between $167.72 and $123.48 during the year (with the lowest performance in the last week of the year). I bet they are asking their legal team if they can legally match at $123/124 and make the amount lower! Good luck to all!

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Post ID: @X5J0obk-dgc

Give them time, they are “busy calculating your match” lol a middle schooler can do the math it takes to figure out your match in 5 minutes.

As with everything money related expect the last date possible Jan 31st

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Post ID: @X5J0obk-pxu

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