$26.5k, 6 months from being vested. We shall see what happens...
16 replies (most recent on top)
I remember you said that about the bonuses!! Thanks for the heads up, you gave me hope if nothing else at that time :-). Now if you could only tell us what date to sign on this damn release agreement and what the hell April 9th means!!!! Urgh!!! Haha
28K
27K
28k... I was so close
26k
I was the one who earlier mentioned that you would get your 401k money back (vested by your employer) even if you have not made 3 years due to recent layoffs. I already got a number of negative reviews. Same thing happened to me about a month ago when I said here that people would get their team GM bonus even if they face layoffs. Most people gave me negative votes then. But today you all already know that everyone is getting bonuses. I'm telling all these based on my research about layoffs in corporations, nothing else.
Per IRS company can’t change vesting schedule unless the entire plan is changed
https://www.irs.gov/retirement-plans/change-in-plan-vesting-schedules
I guarantee you, based on experience at GM, it's lost if you don't have three years, regardless of how you left.
Don't worry about 401K. That will be vested no matter how long you've worked for. You didn't leave GM! The workforce reduction made you work less than 3 years. So, GM can do nothing about it! It's your money, you're to keep. But it will not show you vested now. Few months later you will see, it's vested. So , relax!
Why is it lost? Because GM wants it. If they are fair, they should make it good. No.. they want every penny so that the top brass can have a few more millions. Did anyone discuss this with a lawyer? If employee does not leave voluntarily or not fired, it is not specifically stipulated that the employee automatically loses the money.
15k looks like im not winning
18000
$17,500
Merely 3 months before my 3 years vested period
$ 21,000 here
$ 21,000 here. Thanks GM.