Does anyone know if those of use laid off in Jan 2024 will get paid our 401k match for 2023?
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The FAQ they provided says it will be paid out as long as you were employed through the end of 2023. Lay off happened in Jan, so it should be paid out.
From coworker services….”Yes, as long as you are employed through the end of the Profit-Sharing year. So, for 2023 you would need to be employed until 12/31/2023 to receive it.”
It’s governed by ERISA and is different than profit sharing. It usually gets paid out at the end of Q2. I would think that you’re entitled to it. Profit sharing is probably a no given the sales figures for 2023.
I don't have personal knowledge (I'm still employed) but it was a benefit while you were a covered employee, so I'd think you would get it. Didn't you get an exit letter explaining the payout? I'd ask HR for an explanation.
But it's a discretionary benefit - meaning they can choose not to give it or reduce it and it's not a legally mandated amount. Has anyone gotten their 2023 posted yet? I thought they did it in January?
“Unlikely. Why would they give money to people they just fired?”
For the same reason they pay severance - to avoid being sued.
Unlikely. Why would they give money to people they just fired?
Yes, it will be given. It was provided last year.