You could be leaving money on the table… I just rolled over some really old 401k account into my Snap one and lost like $7k because it was employee contributions that didn’t vest. Apparently this employer had a 25-25-25-25 vesting schedule for 401k matches. Amazon’s 401k vesting rules are even worse. If you get PIPed before 3 years, no 401k match for you. They take it all back.
if PIPed, no 401k match…..? jesus lord
Yeah can’t leave within 3 years
Same with JPMC
Amazon still hasn't changed 401k match? Dang that's really low
Wait Amazon is 2% of salary or 2% of *contributions*? I get more than $400 from Sage every month.
2% of contributions or 2% income ?
I was wrong originally, it’s 2% income, but you still have to stay 3 years to get it.
The companies i worked with did not have any vesting on 401k money company was putting to my account. Amazon has such policy of vesting as i know
FWIW, Amazon’s year for 401k vest purposes is defined as a calendar year where you work for Amazon for 1000 hours or more. So technically you could join before June in year X and leave after July in year X+2 and get the match. But it’s 50% of 4% base anyway. That part is really shitty. I also don’t know if holiday/pto hours would count toward the year.
Don’t people do that lol?! Thanks for awareness from those clueless souls
No. People talking about tc never talk about 401k contributions here. It’s actually not a negligible amount of money.