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Remember the BADwill job I had?
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<blockquote data-quote="Signorina" data-source="post: 553322"><p>She should not lose ALL of the match on her 401k regardless of the cause of separation. Even before the passage of "The pension Protection Act" of 2006, the federal law required:</p><p></p><p>100% vesting upon completion of five years of service,(cliff) </p><p>or</p><p>20% vesting upon completion of three years of service with the percentage increasing 20% each year until 100% vesting was reached upon completion of seven years of service.</p><p></p><p>The pension protection act accelerated that to either a 3 year cliff (100% vesting after 3 years, 0% at 35 months) or a graduated SIX year (20% each year to 100% in year 6) AND WHY OR HOW an employee leaves doesn't matter. This is a federal tax law - not state. It's a huge federal fine if they are found in violation plus the trustees of the plan and the investment firm are personally liable and she could sue all of them! There is no messing around with it.</p><p></p><p>As for the vacation- again sounds like a violation of employment law. That does vary by state. But I find it unlikely that they don't have to pay out at least SOME of it. It's usually simple to file a complaint with the state & it usually gets quick action from the employer. </p><p></p><p>Finally, a forced resignation may still make her eligible to collect unemployment. She should file. She has nothing to lose. And I am sure that her friend Star could provide testimony in her favor.</p></blockquote><p></p>
[QUOTE="Signorina, post: 553322"] She should not lose ALL of the match on her 401k regardless of the cause of separation. Even before the passage of "The pension Protection Act" of 2006, the federal law required: 100% vesting upon completion of five years of service,(cliff) or 20% vesting upon completion of three years of service with the percentage increasing 20% each year until 100% vesting was reached upon completion of seven years of service. The pension protection act accelerated that to either a 3 year cliff (100% vesting after 3 years, 0% at 35 months) or a graduated SIX year (20% each year to 100% in year 6) AND WHY OR HOW an employee leaves doesn't matter. This is a federal tax law - not state. It's a huge federal fine if they are found in violation plus the trustees of the plan and the investment firm are personally liable and she could sue all of them! There is no messing around with it. As for the vacation- again sounds like a violation of employment law. That does vary by state. But I find it unlikely that they don't have to pay out at least SOME of it. It's usually simple to file a complaint with the state & it usually gets quick action from the employer. Finally, a forced resignation may still make her eligible to collect unemployment. She should file. She has nothing to lose. And I am sure that her friend Star could provide testimony in her favor. [/QUOTE]
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Remember the BADwill job I had?
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