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Former employer withholding 401(k) contributions

After working at Udemy for a year and a half, past the 1yr minimum contribution vesting period, I left just before the EoY 2019. I'm not the most knowledgeable with the terminology, but they're evidently not letting their contribution settle(?) into my account. There's nothing about this in the offer letter ... Is this standard practice? They aren't responding to my emails (which is unsurprising) #401k

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LinkedIn UiUw57 Jan 24, 2020

Yeah some companies do this. :(

8x8 alphado Jan 24, 2020

Not standard but some companies have vesting on 401k contributions

E*Trade cbEV72 Jan 24, 2020

Assholes , never heard of this kind of nonsense before and I did work with royal assholes

JPMorgan Chase wQPG76 Jan 24, 2020

Chase does this too because their contribution isn’t added until early February the year after

OpenTable Meliodas Jan 24, 2020

The 401(k) specifics would be in the plan documents, not the offer letter.

Bloomberg Sad Life Jan 24, 2020

Companies usually conceal these terms to have you find out only after you join — or worse after you leave. It’s the whole « you should’ve read the fine print » mentality of shamelessly screwing people for pennies (what are 401k contributions relative to TC....) Before signing an offer you have to remember to ask for all the fine print regarding the health insurance (who pays the premiums, what is the coverage, deductibles, HSA or FSA, etc) and same for the 401k (who manages it, what are the funds available, is there a match, if yes how much, is there a vesting schedule, or anything of the kind you should know). You have to realize that recruiters are uncomfortable talking about these things but they can’t really lie to your face so just ask a lot of questions. Not that you can change any of these conditions, but at least you’ll know what to expect.

JPMorgan Chase wQPG76 Jan 24, 2020

I got all these details from Chase before joining but it was legitimately HUNDREDS of pages. Recruiter was clueless when I asked for certain specifics

Amazon aws2gcp Jan 24, 2020

Left amazon at 2 yrs 10 months. Their 401k match only vests at yr 3 So i lost that cash

JPMorgan Chase wQPG76 Jan 24, 2020

Left Chase at 2.5 years and their vest is also 3 years NO REGRETS New employer vests 401k immediately so in the 6 months I’ll recoup about a full year of what I lost, missing out only on 6 months of match