From meeting notes, I wrote down that people who took the retirement package would receive a match true-up to their 401ks in January, 2025. Did anyone receive this? Maybe I just misunderstood the details, and we just didn't qualify?
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There is only True Up for folks that took the Early Retirement-- Anyone that just did a voluntary departure will not get it. Mid Feb is when I understand that it will be paid for ERP folks.
I saw something small posted in Fidelity on 01/27 titled "Employer Contributions"
I asked HR about this twice and even raised the alarm with other people involved in the layoff administration. I was told that there is NO TRUE UP. Yes, this means if you maxed out your 401k early in the year, you got almost nothing, and if you slowly added to your 401k throughout the year leading to your unfair and undeserved layoff, you got the whole benefit.
Intel matches up to 7% for base pay and 7% for bonuses. If your contribution for base pay and bonuses was at least 7% then you will not get a match true-up.
Check to see how much Intel matched and if it was 7% then no match true-up.
I think this is done in Feb, along with when they do the retirement plan contribution and 'bonuses'
They have done everything as promised so far, so give it some time.
Maybe wait till Q2 to roll the 401k over to an IRA.
Took ERP 9/30; just checking Fidelity and don't see any current contributions. I haven't heard anything about the meeting that just occurred so I'm not up to speed on anything, not even APB.