Thread regarding Staples Inc. layoffs

401K Match Rules ?

I got let go in the Feb 13th layoff. I had only been at the company for 2 years.

I was in the 401K, and my understanding was that Staples changed the rules, and that employees hired after 2017 had to be there 3 years, before they are vested sufficiently so they can get any of their 401K match.

I don't recall all the rules, but, I think I had seen that prior to this change, that after 2 years you were 50% vested.

This seems a bit sleazy to me. Hire people, and then lay them off before 3 years, and don't give them any of the 401K match dollars.

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| 1471 views | | 3 replies (last March 7, 2019) | Reply
Post ID: @OP+XVCIYUi

3 replies (most recent on top)

not 100% sure but think the match $$ is yours once it is put in your account

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Post ID: @2ewk+XVCIYUi

401k automatically vests upon change in control.

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Post ID: @1sao+XVCIYUi

It sounds like you barely paid attention to the agreement you were entering into with the company and are now complaining that they upheld their end of the bargain. Good luck with that.

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Post ID: @1rsj+XVCIYUi

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