PSA: Deloitte takes back it's 401k contributions from the plan if you quit within 4 years of joining Deloitte

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It is pro-rated based off of how long you have been there if you stay for fewer than four years. At the 4 yr mark, they will have contributed only $4k so makes you wonder if it is worth staying for just that much

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EY1: ours vests immediately, and there’s no “taking back” of the employer contributions. Previously, EY used to contribute their employer matches only at year end, but now they contribute every pay period. Sounds like this is the one time we are better off than our fellow Big4 brethren!

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Lol what 401k contribution

likefunny

4 years? Jeeze that’s rough

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Yes, they take back those contributions and distribute to retired PPDs as pension.

likefunny

That is f-ed up! I didn’t know that. One more reason to do the least amount of work without getting fired for another 14 months

likefunny

Easy, don’t quit.

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@DD2 hope you are not on my teams

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#latestagecapitalism

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D does allow partial vest 20/40/60 with 100% after 4 years of service per the new policy launched after 2011.

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My employer contributions vest 100% immediately and are paid into the 401k every paycheck

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@Pwc1 it all vests after 4 years.

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The 401(k) match is ridiculously low anyway

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Have worked a lot of places. 25-50-75-100 etc is common/the norm. Very few companies cliff vest - that’s rough. Very few places vest 100% immediately. We do but pretty much have to with up or out

likehelpful

@DD1 My new employer doesn't do that 😊

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At PwC we don't 100% vest until year 5, although we can partial vest 20/40/60 after year 2/3/4

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Why are you complaining? This is standard for almost every single company 401k plan in the US

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This is how literally all 401k programs work. They vest over a few years with increasing share turned over to you each year as an incentive to stay around a bit.

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It’s called vesting. Read the print. It’s not even fine print

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lol our 401k sucks anyway, they are taking away what like $800 after me being there 2 yrs

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@DD4 they take that back once you quit and try to rollover.

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