Got my severance today. ESPP contributions were withdrawn after the termination (for the second quarter). Fidelity customer service said I should get that money in my payslip. They have not included that money?
If you were laid off, how did you get your ESPP money back?
thanks.
Got mine today. Well what was left of it. They took out almost 2k in taxes.
I was let go years ago at 55 and was going to roll over my 401K to a n IRA. My Fidelity advisor provided a very valuable piece of info: If turning 55 or older in the year of severance, there is no 10% penalty for 401K distributions if left in HAL 401K account. You will lose that if you roll over until you hit 59 1/2. They still require 20% tax deduction but you reconcile at tax time. Google "IRS rule of 55".
I was laid off in September 2019 after 39 years with Halliburton. The severance pay I received was an absolute disgrace.
I hope you all that are going through this mother of all downturns fair well and receive something decent regardless of your years with the company.
Good luck!
Fidelity has to release it back to Halliburton who then has to release it to you, takes a few weeks
How long did it take to get severance, once it was completed?
😂 ESPP is not part of your 401k. So your comments about tax obligations and 59 1/2 are irrelevant.
"Call Fidelity"
20% federal tax obligation - taking it out before age 59 & 1/2
10% additional tax obligation unless you roll over to an individual IRA within 60 days after receiving; ROTH, SEP or other. Check with Fidelity. 🤔
Takes about 4 weeks. They deposit it directly to your bank account.
Did that they said, should get it from HAL on my last paycheck. Didn't get!
Call Fidelity