Thanks in advance.
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How will they pay the vacation hours? It's a little tricky because we get paid 24 paychecks per year, which mean 2 paychecks are not necessarily one month. The severance payment is calculated by dividing yearly salary by 52 weeks, then multiplying by the weeks you're eligible for.
Since vacation is accrued in hourly units, anyone know how they'll calculate those payments?
When should we expect to see the vacation hours paid out? Is it the next pay period after the last paycheck received for employment?
OP here. Thank you. Yes, you will become automatically vested in the 401k savings plan and will therefore receive any accrued company match, even if you’ve been with the company less than 3 years. You will not be vested in the pension if less than 5 years of experience as of Jan 31 2021, though.
Will we receive our company matched 401k earnings if we were not vested?
Or is that forfeited?
No, the only thing taken out is Federal Tax and Social Security