[Search for users] [Overall Top Noters] [List of all Conferences] [Download this site]

Conference 7.286::digital

Title:The Digital way of working
Moderator:QUARK::LIONELON
Created:Fri Feb 14 1986
Last Modified:Fri Jun 06 1997
Last Successful Update:Fri Jun 06 1997
Number of topics:5321
Total number of notes:139771

672.0. "86 tax law & vesting" by IND::TRILLANA () Thu Dec 01 1988 10:45

    Has anyone any definitve information of the effects of the 1986
    Tax Reform Law, with regards to how it effects Vesting?
    
    My local paper had an article that gave me the impression that starting
    in 89 on my aniversary in March  I may indeed be fully vested?
    
    DEC's a great place to work but they seem to have hired to many
    ex IBMers and I quit there to.
    
    
    Principals only please.
T.RTitleUserPersonal
Name
DateLines
672.1See topic 526CVG::THOMPSONI'm the NRAThu Dec 01 1988 11:116
	I read something in a DEC newsletter a few months ago. If you'll
	have 7 years in March then I think you will be fully vested. It may
	not happen until the start of the new fiscal year though. I think 
	they have to wait until the change of the year for things that big.

			Alfred
672.2does anyone <really> know?BINKLY::WINSTONJeff Winston (Hudson, MA)Thu Dec 01 1988 13:592
I thought the law said something like all employees who have 7 years 
sewrvice as of 1/1/89 must be fully vested as of 1/1/89?
672.3What about 7 years service *after* 1/1/89?DACT6::COLEMANI&#039;m the NRAThu Dec 01 1988 14:464
    So what about someone (like myself) who will have 7 years of service
    as of 1/4/89?  What does that mean to him/her/me?
    
    Perry
672.4nothing official yet....SPGOPS::HSCOTTFri Dec 02 1988 14:424
    I called Personnel on this very topic last week. According
    to my PSA, Digital is still reviewing the tax law changes
    and has not yet decided or announced any new policy.
    
672.5???BMT::GTRUTTWed Dec 07 1988 08:402
    Forget about personnel. They're like a black hole, you're questions
    go in but never return.
672.6RAINBO::RUMon Jan 09 1989 13:225
    
    The law required that all company should announce a choice
    of different pension vest options said in the law by Jan 1, 1989.
    
    I haven't heard anything from DEC yet.
672.7DEC sets its OWN deadlines...BINKLY::WINSTONJeff Winston (Hudson, MA)Mon Jan 09 1989 17:544
I was told by my PSA that the old vesting system is in place until 
July 1, 1989.  At that time, DEC will comply with the new rules in 
some TBD manner.
672.8Come again???????????INFACT::GARRETTCurtis W. - IndianapolisThu Jan 12 1989 14:171
    But has anyone asked someone who knows something?
672.9I asked, and received.BENTLY::EVANSTue Jan 17 1989 18:535
    FWIW: I asked my personnel rep (Debbie Buron) in western area re:
    this, and was told that July/this summer, DEC would establish the
    new vesting policy(s).
    
    Bruce Evans, Santa Clara
672.10Everyone does the same thing on 1/1 would be niceMANFAC::GREENLAWWed Jan 18 1989 09:236
    With all of the usual disclaimers, I think that a company must have
    the new vesting policy in place at the start the company's PY when
    it begins in 1989. So if the company is on a September to September
    PY, then the company would have until September, 1989 to implement
    the new policy.  Thus, Digital has until the begin of its PY, July,
    to get its new policy in place.
672.11GRACKL::RATHMELLJack Rathmell DTN 229-7783 N123TXThu Jan 19 1989 15:241
What is a PY?
672.12Typo?VLNVAX::TSTARLINGThu Jan 19 1989 15:291
    Author probably meant FY (fiscal year).
672.13.12 sneaked in while I was writing .13COVERT::COVERTJohn R. CovertThu Jan 19 1989 15:316
>What is a PY?

Let's hope it's a Plan Year for the Retirement Plan.

If not, we may have another person who thinks "Fiscal Year" is spelled with a
"Ph".
672.14Asleep at the keyboardMANFAC::GREENLAWThu Jan 19 1989 17:144
    RE: .11-.13
    Egg dripping down face, I did mean Fiscal Year but was in a hurry
    to enter note and leave. That will teach me to watch what my fingers
    are typing.  Oh well. :-{
672.15See topic 550CVG::THOMPSONNotes? What&#039;s Notes?Thu Mar 09 1989 10:193
    The definitive topic on this issue appears to be topic 550.

    			Alfred