Thread regarding Intel Corp. layoffs

What would happen to the Fidelity 401K and retirement and pension plans accounts after termination?

Unvested shares have been removed from UBS, but Fidelity's web site does not indicated termination yet. Do we have to rollover the account to an IRA at some point? Are we entitled to the Intel's pension amount as one lump sum per Fidelity?

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In the ISP paperwork it's written that the unvested 401K (part of Intel contributions) will be accelerated, isn't that true?

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You could potentially roll these 3 amounts to IRA's that you open at the financial institution of your choice:

  1. Vested part of retirement contribution plan

  2. Vested part of 401k

  3. Vested part of minimum pension plan

It usually takes about 6 years to be 100% vested. You'll always be 100% vested in your contributions to the 401k (the vesting only applies to Intel's contribution). For #3, the "default" will be to receive an annuity at retirement - but you can request a lump sum that you can roll over to an IRA that you control. I read somewhere that sometimes they accelerate vesting if you are let go ... you might need to call HR to inquire about that.

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No, Intel DOES NOT keep all the funds in 401k if you were ISP. You get to keep all the amount that has vested. You can roll over that entire vested amount to an IRA over the next month and can even keep it with Fidelity if you choose.

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Sell your intc shares and put it into something safe

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I believe you can keep the account or role over to Ira

For ubs there is a deadline I think 8 months or a year. One would have to check with them.

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Intel keeps all the funds in 401k if you were ISP.

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Wait and watch the Intel contribution go poof! Just like USB.

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