{ "media_type": "text", "post_content": "Can someone please explain to me PwC's 401K policy like I'm a 5 year old? I'm thinking of quitting and not sure what would happen to my 40% vested plan. Would I lose it?", "post_id": "5afd533d37467200139a1a30", "reply_count": 16, "vote_count": 2, "bowl_id": "564a5cdb94887803001dd07c", "bowl_name": "Accounting", "feed_type": "crowd" }

Can someone please explain to me PwC's 401K policy like I'm a 5 year old? I'm thinking of quitting and not sure what would happen to my 40% vested plan. Would I lose it?

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If you follow myKcurve to the financial well being page of shows how much in $ the plans are total and vested. You will keep your vested amount

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From my understanding for the wealth builder is all or nothing. You are either 0% vested or 100% Vested after 5 years.

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2 parts to your 401k. 1) money that you’ve contributed. 2) the money that pwc has contributed. you are 100% vested in money that you have contributed, and 40% vested in money that pwc has contributed, meaning if pwc has contributed 5,000 to your 401k, you’re entitled to 2,000. i’m not sure if the same applies to the wealthbuilder account, but i think you’re 40% vested in that amount as well

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On this point, if you get an email in April saying you are 40% vested, is that immediate? Or are you 40% vested in August when you hit your 3 year mark?

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My understanding is that it is when you get the email, but I was also under the impression that wealth builder was similar to the 401k vesting, but evidently I was wrong about that

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Yes there is a penalty for early withdrawal of your 401k. If I remember correctly it’s taxed like income plus a 10% penalty. You can roll it over into a future employers plan or a separate retirement vehicle. Not sure how moving to Canada impacts though...

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All this time I thought you keep the % you are vested in😫

pwc3 that’s correct. unless you’re referring to wealth builder

Yea wealth builder

I think you’re vested the same %age in both plans.

PwC 4 no that’s not correct relook at the policy

There is conflicting info on the site. The wealth builder plan description explicitly says you vest at the same rate and can take partial vesting with you when you leave

Wealth builder is the same. Just confirmed

PwC 7 is correct

So when you mean keep, can I take that money out? The reason I'm asking is, I'm planning to move to Canada so I'm trying to figure out what I can do with the money on my 401K/wealth builder. Is there a penalty?

Oh so the wealth builder you keep what you vest

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