just wondering
Do you think they haven't let the furloughed employees go because they are getting a kick back from our 401k (Prudential)? Just a question not accusing them. Maybe they made a promise with Prudential that their employees would have a certain amount invested with them. Most of those furloughed are the ones who have been there the longest and probably the most invested. It would be nice if we could roll our funds over into our own retirement investments outside of SEAs 401k.
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Of course, yet that doesn't mean prudential and SW may not have some sort of agreement for employees to stay on with them even if they choose to withdraw money on their own.
No, because you can withdrawal though the cares act and not face a penalty. There's nothing keeping your money there.
This is a good question. My guess is that if there is a kickback from Prudential, its not significant enough to keep hundreds and hundreds of employees on the payroll. They might be thinking that they can qualify for some other government tax treatment or some upcoming deal from the legislation being worked on now with the federal government. The timing and motives are definitely financial. The well being of employees is super low on the priority list.
FYI...the funds in your 401K belong to you. You can roll them into other investments with other investment companies anytime you want. As long as you roll it and don't cash anything in, you don;t have to pay the taxes or early withdraw penalties.