If you get laid off and get say 6 months severance and you currently put 1k per month into 401 k does Nike give you the 6k or do they deposit the 6k into 401k? Trying to figure severance numbers just in case. Thanks
8 replies (most recent on top)
@d5 yup
@OP I was let go June 2025. My experience:
If Nike keeps you on payroll for 2 months after your last day of working which they did with my exit group, you can still contribute to your 401k out of each of those paychecks.
Severance is paid in one lump sum after your official official last day of payroll. Mine was in September 2025. There are no 401k contributions from the lump sum severance.
You can keep your Nike 401k even after your official last day at Nike. You do not need to move it right away. They do not contribute anymore and they charge you $10 a quarter. (Mine has done quite well leaving it in the Nike 401k program and letting them still manage it. Worth the $40/year IMHO.)
Typically they give you this years RSU, but if you have been at Nike for a while and are what they deem retirement age then you will receive all RSU/options on the regular cadence. I don’t know the specifics
@bc gone
@b9 how about RSUs ?
The severance (6 months) are in a lump sum check. 401k contributions and match aren’t part of it. Those ended on the last day of being on payroll. That was my experience anyway.
@a4 you lose any unvested RSU's unless they explicitly state otherwise as part of the separation package
not sure on 401k contributions, I assume the contributions and match would not be part of severance, but maybe for that initial 2 months of 'buyout' to avoid the warn notice
Another question - Does severance include vesting of unvested RSUs from previous years ? What about at least the RSU that are going to vest this September and the new grant for this year ?