So I received an ISP and it says on the letter that I will be also getting a 1x APB target.
So if my multiplier is let's say $5,000, then will I get $5,000 or will it be pro-rated for only the first five months (meaning half)?
4 replies (most recent on top)
why don't you call OCAC and get the answer, come back and post what they say. I would not be surprised if the docs from last year's action are the same ones being used this year and the info about APB may have been mistakenly included, as last year ppl were employed through July 15th in which case they met the 1H bonus req. Before claiming these posts are invalid, consider that OP didn't post their grade which also makes a diff in the way APB target is calc'd. My original responses are not "guesses", I worked @ Intel for 15+ years, I know quite well how the bonus elig works thank you. And again, to be sure you can always call OCAC and ask them - this information is also on Circuit, bonuses are not prorated.
I don't know what the previous commenters were looking at, but both the ISP and ERP plans I received clearly state you will receive 6 weeks of pay plus 1X APB target.
Please - If you don't have the documentation don't respond to these questions with "Guesses".
As far as what the VSP offer states I can't say.
...and thinking further, I don't think the VSPs will get it either, because if their last day worked in the system is 06/29 with term date of 6/30 (last day worked is always 1 day prior to the term date) they are literally missing the 1H 2016 bonus cut-off by one day. Intel is seriously wicked!
bonuses aren't prorated, you have to be employed through the last day of June in order to receive the 2016 1H bonus...tricky Intel knew that when setting the timelines for ISP, because all will have a term date of 05/31 therefore no one who left with ISP will be getting the 2016 1H bonus which pays out in 3rd week of July. sorry to be bearer of bad news :(