An ethical company would allow you to be vested in this situation!! I sincerely hope GM does the right thing given that this layoff was not based on employee performance.
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I don't have concrete information because I heard it second hand from a coworker of the guy who was laid off. But, the guy laid off was a few months short of vesting and he said he got vested.
Theres a slight possibility that GM making thr effective date March 1st pushed him into 3 years though, I am not 100% sure when he started but it was around march/April 2015.
Not great info I know, but might give some hope to those of us unvested.
I let my previous match go when they recruited me to come to GM! I wonder if with layoff by them in less than three years I'll lose this one too! Nice combination with loss of income
Left blank or vert gray area in the package. Same for the WARN notice at the end. It is gray who this aplly too. A labor attorney can clarify that for you.
Do they give the GM contributions if it is less than 3 years?
I have not seen a concrete answer on this posted anywhere and according to those laid off it isnt mentioned in the packet... I wonder what will actually happen. Really sad if those at 2-3 years (or any time, really) lost the match
@XtehkOC-cxg - what you mentioned is absolutely correct if you leave GM before 3 years or get fired before 3 years. However, for layoffs, that isn't true!
U wouldn’t get what GM put in unless you’ve been with them three years or longer.
What information you have on your package! Usually when corporations lay off people (not fire someone) they usually give away their contribution of the 401k! If GM isn't doing that, check with a lawyer.
But I haven't completed full 3 years... 5 months away... I am talking about their contribution.
That's yours to keep!