Either change of control or split or some other black swan happens?
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@1qgt is incorrec5. SERMA does not go into a separate account in your name when you retire. Only the distributions made to you are titled in your name. The SeRMA balances held by Intel are a general obligation of the firm and are at risk.
SERMA is a general obligation of the firm. The company would have to go BK, wipe out all the equity and then have some before SERMA is st risk. Very unlikely, but possible.
IF you’re already retired it’s probably safe for now, it’s been moved to an account in your name. IF you are not retired your SERMA may go poof along with other things when you get spun out into a different company.
SERMA is from Intel Corp and short of bankruptcy it should be ok.
Even if the company is completely broken down for parts, it would have to be dire for the company to stop covering retirees.
I think that product divisions get sold off and they stop trying to retain ownership as would happen in an IPO.
Foundry is key and with the renewed focus on cost efficiency it should be able to get to breakeven sooner than later. The days of max-output are done, and good riddance to that mindset. Much of how Foundry worked was a direct result of being tied to their customers dominant market position, and that should have stopped at least a decade ago. That is the part that Pat refused to recognize, to his deep chagrin.
You're in line with the rest of the creditors... SERMA is a line on the balance sheet and not an escrow account. They sure didn't highlight that during enrollment.