Hello, looking for some advice or thoughts...
My company had to make some cuts at the end of 2015 due to a lost contract. I was one of those cuts unfortunately.
My company's 401k plan has a 50% match up to 3%. They have a last day of plan employment stipulation. Here is the exact wording from the SPD...
"Allocation Conditions: In order to share in the matching contributions for a Plan Year, you must satisfy the following conditions:
- If you are employed on the last day of the Plan Year, you will share regardless of the amount of service you complete during the Plan Year."
The plan year is Jan 1 - Dec 31. I was employed and worked on December 31st. I worked from 7A-10P. That was my last day of service.
Was I not employed on the last day of the Plan Year? I worked the majority of the day. Should I be entitled to the 3% company match?
Thanks for your advice.
