@sc Glad you brought this up. I was just about to do the same. I requested the current year 401k docs but they sent me 2024. I'll have to do some digging now.
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@db for most, yes. But for those older than 55 it will depend on your years of service "If you're eligible (you were employed on the last business day of December - OR - you were age 55 or older with at least 10 years of service when you left the company), your employer matching contribution will be posted to your account the January after your employment ends." from USB alumni site: https://www.usbank.com/about-us-bank/alumni.html#health
Over 55 people. If you suspect termination before end of year, increase 401k to as much as you can up to 75%. The match payout is front loaded so get that $30,500 in there now. Unsure HSA as that is spread out over 26 paychecks. Anyone increase HSA mid year to hit max sooner?
@sb I recently quit and rolled over my 401k to my IRAs (Roth and regular) at Fidelity. I didn't think people younger than 55 who quit would get a pro-rated match. Wonder if I sc--wed myself by getting out of my USB 401k. I also sold all my shares and that felt good, too.
I received my match after I quit. I believe it was prorated.
@OP "If you're eligible (you were employed on the last business day of December or you were age 55 or older with at least 10 years of service when you left the company), your employer matching contribution will be posted to your account the January after your employment ends." from USB alumni site: https://www.usbank.com/about-us-bank/alumni.html#health
@db Thank you
If you resign and leave voluntarily, you forfeit. If you are fired for cause, you lose. If you are laid off due to a reduction in force, it gets prorated. Same with bonus.
@ac Please stop posting blatantly false information.
I left voluntarily and it was March. I still received my match for the time I was employed at the end of that year. So I would imagine if you were laid off you'd still receive it unless that's changed.
You must be employed on the last business day of the year in order to receive the 401k match. The last business day is December 31st 2025. This is in the Severance plan documents on the Total rewards site.
None of that is true. A 401k loan is simply treated as a distribution if you leave. Also, the company match for 401k contribution is prorated.
Nope,no .watch if you are severance ced out. Also if you have a loan out of your 401k, they penalize you by rewriting the loan to make triple the monthly payment or you default on your loan.
I would guess maybe a prorated match?