It’s roughtly 20k worth of Amazon stock fund I got as 401k match 6 years ago when I was working at Amazon. The money was on my account for 6 years. And today I received a letter from Fidelity saying Amazon took the money back. My balance is 20k short. I called Fedility and they told me Amazon forfeited the fund because I didnt work there for more than 3 years, the fund didn’t vest. So the balance I saw on my account wasn’t really my money. It feels like fraud. This shitty 3-year vest policy and the fact that it wasn’t immediately taken away from my 401k account when I left the company is very confusing and frustrating. Is this Amazon’s plan to keep their employees, by making ex-employees’ lives miserable?
??
It’s on your fidelity account, how come they took away from your account?
Are you saying the vesting period changed? If it was always 3 years vesting and you didn’t work there for 3 years, then the match never vested.
Nope. It’s still 3 years.
I think you misunderstand me. At amazon, you would need to work a full 3 years in order for the 401k match to vest. If you leave before working those 3years, then the match does not vest and the company takes the match back.
If you left before three year tenure then it makes sense.... Did they take the vested money away? Or included the money earned too?
Including all earnings.
BS, they cannot take money which was already vested. And if it did not vest, it was never yours in the first place. I have let money stay in old employers 401k for 6+ years after leaving. It stayed and it grew
I believe they claim it was not mine because it didn’t vest. But they didn’t take it away immediately upon my leaving. They did this 6 years after I left. This is confusing and frustrating.
How does it matter what they claim ? Just call Fidelity and verify. If it did not indeed vest, then it does not matter when they did it, and there should be nothing frustrating about it. Just call Fidelity and verify
That's one of the few extremely bait and switch things Amazon does and you will learn about it only when you hear other coworkers complaining about it.
Similar situation has happened to me before with unvested money disappearing after a long time. Never assume they forgot and you got extra money...
The reason they took iy now is because if you went back to work for amazon within 6 years your vest doeant reset so for example you worked there 2 years before then left for 4 years and came back for 1 and your 401k is vested.
Does that mean OP couldn’t have rolled it over after leaving amazon right?
Rollover is kind of irrelevent to what i said but he could roll over his contributions
No one knows what you are talking about
I left 6 years ago. The money was on my account for 6 years. And today I received a letter from Fidelity saying Amazon took the money back. My balance is 20k short.
Updated the OP to make it clearer. I was really angry, wasn’t my best writing earlier.