This was never told to me and is not on the brochure they hand out about retirement benefits. I just found this out via Reddit (classic) and posting it here for anyone else who wasn’t aware. And before anyone gets sassy and says I could have read the fine print, go eat a Moonpie and chill.
50 replies (most recent on top)
Dear Reddit hater (@dhc+1qnmtbj6),
Obviously I verified. It’s buried on the ExxonMobil family site. Don’t hate on Reddit. It provided more information than the new hire orientation.
Reddit is not a reliable source. As with anything, you should always verify.
What you contribute to a 401K is yours, but there is usually a restriction on the company matching portion. I don't remember...but 2-3 years sounds about right.
On pension, you don't vest until 5 years.
@cno+1qnmtbj6 Yeah, same. This is how it should be. Not this indentured servant nonsense.
It's 4 years isn't it?
This can vary by company. A few I have worked for had no vesting period and all your matches were yours immediately.
Welp, this is news to me. Wouldn’t have accepted if I had known this.
@fjz+1qnmtbj6 Never mentioned during the “orientation” - which was nonexistent and included IT tossing me a laptop
thats been the case forever. Used to be mentioned during "orientation" sessions for new employees\victims.
That is an unusually long time
@bau+1qnmtbj6 Thank you, HR. Go fix your brochure, it needs significant improvement.
401k match contributions are generally vested after some time in most companies. You contributions however have no such restrictions