Userra Question
08-09-2014, 10:06 AM
#1
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Joined APC: Apr 2007
Posts: 49
Userra Question
My company has a define contribution percentage of pay with no match required to a retirement account. If I am on extended, ie 3 plus years, is that contribution just gone? I was reading another post that mentioned catchup contributions.
Thanks
Thanks
08-09-2014, 12:25 PM
#3
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Joined APC: Apr 2007
Posts: 49
How do they fund it, do they assume min guarantee for the entire time you are gone? It's a percentage of earnings no match required. If you are on extended mil leave are you considered to be earning anything? Seems like it would be too good to be true.
08-09-2014, 12:31 PM
#4
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Joined APC: Mar 2008
Position: Chris's Closet
Posts: 485
Originally Posted by getrichflytryin
How do they fund it, do they assume min guarantee for the entire time you are gone? It's a percentage of earnings no match required. If you are on extended mil leave are you considered to be earning anything? Seems like it would be too good to be true.
08-10-2014, 07:23 AM
#5
Gets Weekends Off
Joined APC: Sep 2006
Posts: 554
Originally Posted by getrichflytryin
How do they fund it, do they assume min guarantee for the entire time you are gone? It's a percentage of earnings no match required. If you are on extended mil leave are you considered to be earning anything? Seems like it would be too good to be true.
If you have a defined benefit plan (pension) the years also count as pensionable years.
If sick leave accrues and then contributed to retirement, you are entitled to that sick leave as well (not as sure about this, but what I'm told).
If you jump to the next vacation accrual rate, that has to be honored as well.
Yes it is a good deal & Thank you for your service!
08-10-2014, 07:29 AM
#6
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Joined APC: Sep 2006
Posts: 554
Employer Support of the Guard and Reserve > USERRA > Frequently Asked Questions
Here is a good place to research any questions you have.
Here is a good place to research any questions you have.
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