Is it a grade requirement to get SERP? I have my 401k and profit sharing @ fertility but no SERP.
10 replies (most recent on top)
SERP is only for underrepresented minorities (URM).
One downside of serp+ is it is not protected from intel bankruptcy. It is unsecured debt. Say you get a million or two in serp+. You could lose it all if intel can't pay its bills. That alone is a reason many senior people take erp or vsp.
SERP+ is a little perk given to the most special higher grades as others noted. Highly compensated, and as such they can choose to hide a lot of that money tax free, decide when and how much to get back ( of course taxed ) but for long time senior people, imagine being able to put away 30-50% of your income away tax free, and let it grow tax free to.
Poor slaves should ask BK why they don't give that same benefit to the hard working poor working grades!
beware. It is like giving loan to Intel. If Intel goes down the tube, unlike SERP, SERP+ money does not have to be repaid by Intel. You took the risk is the argument they can make
If you think you're going to find something on circuit about SERP+, then you will be looking forever.
For the uninformed SERP+ is a way for grade 10+ to put up to 100% of pay into an account pre-tax. The little people get capped at $18K in a 401k.
Look it up by going to Circuit and going to the benefits page (under retirement)
How much is Serp+ typically, anyone know?
I think op means serp+ a deferred comp plan for highly compensated?
SERP is part of your retirement package and you will not see it until you retire
10 and up baby