Question that's been on my mind - even if I haven't been laid off yet.
What happens to 401K after layoff for people who have been with SAP for less than three years? Do they get the money that has not vested yet or not?
Any info on this would be appreciated.
@kun is correct, go to,page 10
You lose all unvested money
If you are an employee please check the internal portal under employee benefits. There is a very good document called “summary plan description”. Go to page 10.
YOU don’t ever lose any money YOU invested. However, contributions the company has provided are not 100% vested until your third anniversary. Less than 2 years = 0% vestment; 2 years = 50% vestment, 3 or more years = 100% vestment.