questions to ask during the layoff session ~ Deloitte Consulting Forum

Guest

You can always omit any details that can be traced back to you.

unless you got a million $ in severnce package, D is not going to sue you to get pennies. it will cost them that much to sue you and employees mostly win in this environment.
just do not disclose your layoff date and you will be fine.

Guest

I agree and if D is going to have someone trying to find out who's posting layoff info, they should eliminate that overhead position!

Guest

Whether they sue me or not, I prefer not to break the agreement I signed.

Guest

Then why bother posting anything in the first place

Guest

you have already violated the severance agrrement, have been identified from your previous posts and you will shortly get a letter seeking your severance back and the next steps. If you donot pay it back, we will write new tax laws to get it back.

Guest

Oh great even HR has been outsourced to R10.

wtf what is it supposed to mean. HR already has support people in R10.

Guest

how about, 'what exactly is told to potential companies who call to verify employment or check references?'

and 'can i get in writing the exact dates on which my benefits expire' or cobra kicks in, whichever.

already been something on here about 401K transfers, but I'd ask for more detail about holding that until new employment is found.

Guest

On what exactly is told to companies depends
a) Verify Employment - Deloitte has a policy of only disclosing the date of service and compensation
b) References - The names of the references will be provided by you so its best that you discuss with them what they will say

Yes you will get in writing exact dates on which your benefits expire... it depends on if you are paid bi-weekly or in lump sum..It is normally the last day on payroll.. Cobra kicks in right after that..

401K you can keep it and roll over to IRA or distribute it. If you keep it with Deloitte then you can access it after you reach 70 1/2 yrs of age (not sure if i got the age right).. If the 401k is less than USD 5000 then you only can get a distribution and not hold or rollover to IRA

Pension - If you have more than 3 - 4 years of service then Payroll will send you the details of this within 180 days after you leave..

regarding 401k you are WRONG on the 70 1/2. 70.5 is the age when required distributions must be taken.. you can access 401k funds at any time.. If you access it before retirement age (i believe our plan is at age 55) you get hit with a 10% excise tax and the money is then taxed at your normal rate UNLESS you access it for a qualified reason (buying primary residence, prevent eviction and some others).

you can keep your funds in the plan if your balance is over $5000. if it is under $5000 the firm can cash you out and then you must roll it over to another qualified plan to avoid taxation

In my case , they disclosed only the dates of service and title ( eg. SC,etc) (no service line, service area info). They do not disclose compensation. You can always show your payslips if you need to show your compensation.

Guest

You mean that if a company contacts HR (and not a reference that I've listed when applying for a job), HR will not tell them about what was my performance, what kind of work I did and bla bla bla?
They will only tell the future employer the dates of service and title? Please clarify.

Swiss Vereiner Joined: 27 Mar 2007 Posts: 214

For legal reasons, no. They will simply say when you were an employee. Nothing else.

What happens to 401K over $5000 on H1B? Can the account be repatriated to a retirement account in my home country without being taxed in the US?