#401k

When we were told that they were cutting out some of our PTO,VTO, 401K and holidays to allign to the industry standard, I asked myself why are we not LEADING the industry standard. That is how quality staff is retained and businesses grow.

I had saved this off and thought I'd post it for anyone looking for info about the 401(k) match. The second bullet point has the details for those 60 and up.

Change to Eligibility for Company Matching Contribution Effective January 1, 2023, to be eligible to receive a Company Matching Contribution you must contribute to the Plan and meet one of the following criteria:

• You are an active employee on the last day of the applicable Plan year (an active employee for this purpose is defined as an employee who is currently employed or on approved leave of absence, excluding long-term disability), or

• You terminate employment during the applicable Plan year and, as of your employment termination date, you have attained the age of 60 with the sum of your age and vesting service (in both instances, full and partial years) at least equal to 65, or

• Your employment is terminated without cause on or after October 1 of the applicable Plan year and you are entitled to receive severance benefits pursuant to The Bank of New York Mellon Corporation Supplemental Unemployment Benefit Plan ("SUB plan") or under such other severance agreement or policy governing the termination of employment from BNY Mellon, or

• You are approved for long-term disability benefits during the applicable Plan year under a program maintained by the Company, or

• You die during the applicable Plan year and are an active employee at the time of death.

Hard that Ram processing department is getting leased out. Like 529 and workplace 401k. And at the qsm leadership pretty said that there is no correlation with rob big salary and the layoff but jobs are secured. And question they sold the location in fl for a leasing back opportunity, but fl reps are in cos and om.

Hearing in early September some drastic benefits changes will be announced. Including reduced 401K match & changes in PTO allowances. Big bummer as the 401K match is truly the only executional benefit we receive.

I got laid off and got no off boarding information today. My manager told me to hand in my laptop and expect to get my paycheck end of the month. I would like to get all my HR stuff like 401k details and my paystubs

I have more than $800k saved in liquid investments.
If I am laid off I will laugh out loud.
I feel sorry for those in debt with mortgages. Best of luck to you.

In the severance document at the end, they list the job title and age of the employee who was riffed. 77% were age 40 and older. 23% were less than 40. If that isn't age discrimination on a massive scale, then what is? My role was given to another employee younger, but as experienced as I was. I was not let go for performance reasons. I'm angry and there is nothing in my discipline that I can find online making it even worse to find employment after all these years of service. They gave me almost no notice of the riff. I barely had time to say goodbye to many of my coworkers. I understand if I were old and not able to think, and not able perform my job, but that isn't and wasn't the case here.
Roughly 2% of the 102K employees (slightly less than 2K employees were riffed).
If each employee made roughly $100K (just an off the top average guess) and there were 2000 employees, the company stands to save $200M per year in direct salary costs alone. That figure doesn't include payroll taxes, health insurance premiums, 401K matching contributions which they sc--wed us on as well as they pay it out at the end of the year (and not prorated to my knowledge), they sc--wed me on vacation time that I didn't use earlier in the year to keep the project on track, nor the floater holidays that I didn't take early on but had scheduled my vacation later in the year. Also this doesn't include bonuses (which I didn't get anyway, same with stock options or other benefits. Thus in total I estimate the guys at the top saved closer to $250-280M annually. I guess greed is good for the guys at the top.

Been away from Fidelity for a while. I was wondering if the 401k expansion order the current cabinet is working on will effect how Fidelity's 401ks work.

As far as I know, it's just a bill, so nothing is guaranteed. But, if the bill passes, then 401ks will ideally have more potentially asset options to invest in. Those would be private market, real estate, cryptocurrency funds (NOT actual crypto), commodities (physical gold or gold contracts), infrastructure financing, and income. The Department of Labor is now working with the SEC to see how many of the 6 things can pass. Again, we don't know if any of them will pass. But if some of them do pass, then it'll be up to the employer to decide which of the options that are passed can be invested in.

So let's speculate. Of the six potential options, IF they become a real thing, which investing options would Abby and co. offer to Fidelity employees for their 401k? There's a lot of hulabaloo about the current state of dynamic work, but would this make Fidelity a more attractive place to work?

I know I mentioned this is the trump administration, but let's please keep political opinions out of this.

I love this video for reference, although I'm good at budgeting and financial literacy, I'm not THAT good. Plus, anyone can use this for educational purposes, too: https://www.youtube.com/watch?v=5WzlS8qEIKw

Hi all, I’m planning to leave some time early next year. I understand that I would be eligible for APB (usually pay out mid Feb) and 401k true match-up (usually pay out late Jan) since I will be at Intel beyond Dec 31st. But if my last day is early Jan next year, is there any issues receiving the APB and 401k true match-up? Any datapoint from anyone had similar experiences from prior years will be greatly appreciated!

If you make $100k a year you will need $1.5 million to retire

https://youtu.be/lkOQNPIsO-Q?si=criEe4NpyKWGxNqE

What did everyone do with their 401K after they were laid off from Nike? I'd like to know if its better to keep it all there or to roll it over into a traditional IRA where I cane make more investment choices. I'm having a hard time figuring out what the administrative fees are and if Nike 401K has institutional share classes that would be cheaper than a traditional IRA. Thank you.

If anyone missed they are reducing the 401k / cash balance plan by 2 percent. SLT values young employees over tenured ones saying over 10 year employees receive too much vacation. KC you are the mini me of DR.