{ "media_type": "text", "post_content": "For people who were let go at Pwc- were your unvested wealthbuilder and 401k balances accelerated to 100%? They should be since the restructuring likely qualifies as a partial plan termination.", "post_id": "577205a8be009d0e00a5448c", "reply_count": 15, "vote_count": 4, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting", "feed_type": "crowd" }
null

For people who were let go at Pwc- were your unvested wealthbuilder and 401k balances accelerated to 100%? They should be since the restructuring likely qualifies as a partial plan termination.

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Pwc contributes up to 1.25% of salary and bonus into the 401k plan, and a separate amount depending on staff level into a wealthbuilder plan. The longer you are employed with Pwc, the higher % you can take with you. 2 years = 20%, 3 years = 40%, etc... when you leave. typically vesting is accelerated to 100% (you can take the entire balance) when there are large scale job terminations (layoffs or firings) since this is considered a partial plan termination.

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So who am I supposed to ask about this bc I definitely need whatever cash is mine during my time of unemployment 😂

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The 20% number is not a rule but general guidance. Partial terminations have been triggered by as low as 5%. Also, the % is by plan calendar year- so if you include the feb terminations, the number is quite high

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I don't know what that even means 🤔🆘

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.

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Good question

Hmm 1.25%... Not bad

Might be 1.5%, don't recall

Looks like they would have needed to layoff more than 20% of plan participants. Seems high, but hard to know. https://www.irs.gov/retirement-plans/retirement-plan-faqs-regarding-partial-plan-termination

It's 1.5%... And there's no way they're going to do that.

Not to mention rumored upcoming round

Another upcoming round? Confirmed by who? Post-CRT was expected.

Game of telephone but multiple people in different practices have said partners confirmed a big round before bonuses

I only got the money I put in. Had a balance of about $7500 including vested and unvested and got to roll over only about $4500. I'm a first year so no vesting percentage for me

JG Wentworth

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