Anyone who has worked less than 3 years and been affected on this layout? Can you share what information you received about your 401k? How about those who has worked for less than a year? Can they expect to get their 401k Employers part?
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The post on feds is BS and prob by GM. Nothing stops GM from compensating you for your lost match. Now they will speak to us as id--ts, too?
As a former GM employee who had 5 months to go before vesting, the company can go to hell
Our manager confirmed if you are under the 3 years you will not vest.
GM has no control over 401K vesting rules. Federal government rules apply to all companies. Same rules apply if you quit or get laid off.
GM will delay all roll-over requests to another plan custodian while the match is removed...even if you're laid-off.
@XsIfrO6-fit - that is true when you leave GM. In case of lay off, what exactly is the policy?
If you are not vested (3 years) you do not get to keep the employers part.