What the title says - I've managed to find a new job and will be leaving next month. Will I still receive my 2025 401k match?
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@k6 Thank you!! Pg 20:
If you terminate employment voluntarily or involuntarily (including as a result of a reduction in workforce), you
will receive any Company Matching Contribution you have earned; you need not be employed on December 31
to receive a Company Matching Contribution.
Which means I should receive the full match for 2025 plus the match up until when I leave this year
Yes, you get the match. Page 20 (22 of the PDF) https://www.citibenefits.com/-/media/Mercer/CitiBenefits/Documents/2024-citi_us-401k-handbook.pdf?rev=ab39adc5e96a4133b5ac14fefafec82d&hash=0329097F602B2501621744661D6A9D7D
You can be assured that Citi will take the route that benefits them the most. If there’s a way to pay you, then that’s the route they will go.
@ds The way I understood the other poster’s response is that they were not employed as of February / March 2025 when the match was paid. This is in line with what other people have mentioned to me in the past. With that said, you should get the match in March 2026 for all your 2025 contributions and maybe even a match in March 2027 for your contributions this month. I am not HR and Citi may have changed the policy so take this with a grain of salt.
@cw that's the thing - you were employed till June of 2024. I won't be employed beyond Feb since I'm moving
Yes, firm contribution for 2025 will be deposited in your account provided your 401k is open with Citi.
I was laid off in March 2024 but technically employed until end of June 24. I didn’t close my 401k at Citi and Citi contribution was deposited in March 25 .
@bd OP here...so what's the truth then? About the 401k match and FSA? Would really appreciate info
@bb absolute BS. I’m reporting this
I know someone who left in Feb 2 years back and didn't get the match. For the match to vest, you have to be employed by Citi. And I think for FSA, if you've used X number of dollars they will adjust that from your final paycheck. If your paycheck is not large enough to cover X, you might have to pay them back but not sure about the FSA part
@a1 If you spend all your FSA before you leave, you don't have to pay back. Once you leave, I don't know if you could still spend it. But you can contribute to FSA with your new employer - how much you used with your old employer won't matter.
Yeah you’ll get it
Also, I already have the FSA funds. Technically, it's my money but obviously hasn't been wholly deducted from the paychecks yet. Do I get to keep it or do I have to return it?