Netjets 401k?

[Wankel7]

I was reading the paperwork and it said you could not participate until six months has past.

So you can't even contribute on your own for six months? Or does it mean you can contribute but with no match until after six months?

Sort of unfortunate you can contribute to your retirement for six months. I guess you could put money into your own Roth?

 

[tk855]

Unless they recently changed it, it is 90 days. After 90 days you can contribute and the company will match as well. I didn't hear about any changes, but that is not to say it didn't.

 

[BeechScrub]

The paperwork I received with my app said 6 months. That's actually not bad. Many corporations make you wait a year.

Just contribute to a Roth until 6 mos. Or, I think you might be able to contribute to a traditional IRA and roll it into your 401K when you get it.

 

[Wankel7]

That would probably be a good option...I read the same thing in the paperwork...just wondering since that was such a long time.

 

[Duke of Ale]

On the Open Enrollment it says you have to be 21 and have been here 3 months and then you can enroll in the 401k the first of next month. I just looked at it.

 

[jtf]

When I started in January a lot of the paperwork we got was from the old contract and there were a lot of questions in indoc about what was what. I guess at least some of the paperwork has still not been updated. For sure it is 3 months, but it may take a little longer- I'm not sure why, but they didn't start mine for about 4 months. I probably could have pushed an gotten it started right away at 3 months, but I didn't realize it at the time.

 

[Just Peachy]

401k

The BAD news is the 401K is not fully vested until THE END OF YOUR 6TH YEAR . In other words......7 years.

Most companys let you have it in 5 yrs like FlexJet......

 

[Ultra Grump]

The BAD news is the 401K is not fully vested until THE END OF YOUR 6TH YEAR . In other words......7 years.

Most companys let you have it in 5 yrs like FlexJet......

Sorry, but the end of the 6th year = 6 years.

 

[Wankel7]

So, how does that vesting work.

If you pulled out at year 5... you would lose the company match ...but you keep your percentage of the vest...but what happens to the investment earnings? Are they split as part of the vest?

 

[SwissAviator]

Earnings are traditionally split along the lines of the percentage of the total money you have in the fund. So if your money constitutes 60% of the 401k, you would be entitled to keep 60% of the gains.