I think I have got my invested 401k vested after I took vsp. I was however told that accelerated vesting is only for erp takers. Well the more the merrier:)
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Not sure if that's entirely true @-lzm. Sometimes Intel changes the rules downstream. That might not be true for recent hires.
The RCP acct does have vesting, but I believe it's 5 yrs of service or something like that. If you have been at Intel long enough to have 1 sabbatical then you for sure would get the full value of your acct.
Good luck on paying off your home and enjoying retirement, @-lzm!!! I paid my house off ~5 yrs ago and SOOOO glad I did! Getting a mortgage off my plate allowed me to retire early (which has always been the plan).
I wish you much happiness. :)
@--xva. I was lucky to get all my RSUs accelerated but yes, those who only made Rule of 55 don't get it. I was a low grade so there wasn't a lot there but at least I didn't have to leave anything on the table. Ironically, you actually get more accelerated vesting under Rule of 60 than Rule of 75 (which I was). But HR told me in ERP they apply the most favorable option. Unfortunately I had a sell order in place for $33, thinking the stock would never get there. So it sold automatically. But you never know when to sell; it could just as easily be back to 29 bucks next month. My RC was also fully vested even before the ERP; I believe it does so automatically once you hit 60. However, because I wasn't with Intel for very long (unlike a lot of ERP folks), there wasn't a lot there, either. I am taking it as a lump sum and rolling it over to a new individual IRA. Then, after the Tax Hell that will be our 2016 tax returns, I am hoping to take some of it to finally pay off the house. If I don't have a mortgage payment, I might actually be able to retire for real.
Your RCP (Retirement Contribution Plan - where Intel gives you money) is also vested, it's not just your stock.
And for the record... "ERPs do get accelerated vesting" is not exactly a correct statement.... If you ERPed (or simply retired on your own) under the Rule of 55 (Age 55 + 15 yrs service) you do NOT qualify for accelerated vesting of our stock. It's the only "Rule" Intel has that doesn't qualify. I fell under that rule so can verify that it indeed didn't happen for me but I didn't care. As an admin I didn't have enough to make me stay until the Rule of 75 kicked in. I simply didn't care and wanted out. lol
It is only stock not 401k that is subjected to vesting rules. And yes, ERPs do get accelerated vesting. Once you get the rollover info packet from Fidelity, you can decide what to do with your 401k. It is always yours to use according to IRS rules without having to vest.
what do you mean by 401k vest. Anything you put into a 401k is always yours, it doesn't have to wait to vest like stock.
Unvested*