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Leaving Intel

Welcome to the Intel U.S. Leaving Intel web site. This site contains key information regarding final pay and benefits for employees whose employment with Intel has ended.

 

Personal Data

After leaving Intel, it is critical to ensure you have a current mailing address, telephone, and/or email address on record with Intel for at least 18 months so that you receive tax and benefit information in a timely manner. 

NOTE: To receive your W2 in a timely manner, your change of address must be received by the end of the first week of December of that year. 

To make changes to your personal employee data send an email to US.Employee.Data.Support@intel.com. Follow instructions that are provided in the Personal Data Change Form

To continue receiving important information regarding your 401(k) and/or Profit Sharing Accounts, you must contact Fidelity* directly at 1-888-401-7377 to update your personal information and address changes.

 

Pay

Pay Check Delivery

Standard Final Paycheck Delivery is typically direct deposited on the next regular pay cycle.

Exempt Base Pay Calculation

Final base paycheck is calculated using the following formula: Annual pay X days worked divided by 24, divided by days in a pay period.

Exempt Paid Time Off

Unused vacation time will be paid out at termination for California and Massachusetts employees only.

Non-Exempt Paid Time Off

If your employment with Intel ends, you will receive payment, at your final rate of pay, for any vacation you have earned but not taken. Earned, unused floating holiday(s) will be paid out upon termination for California employees only.

Non-Exempt Personal Absence (PA)

If your employment with Intel ends, any unused PA will be paid out. PA time is converted to cash as follows:

  • At time and one half of straight time pay for hours over a 40-hour balance.
  • At straight time for hours below a 40-hour balance.

Sabbatical

Employees who terminate voluntarily or involuntarily before taking sabbatical or who do not take their full sabbatical will forfeit their sabbatical. Intel does not make cash payments in lieu of sabbatical time.

Bonuses

The payout of an Employee Cash Bonus Plan (ECBP) or Employee Bonus (EB) requires an employee to be employed on the Intel payroll through the last day of the applicable bonus period (June 30 for first half (1H) ECBP and Dec. 31 for second half (2H) ECBP and EB). No prorated bonuses will be paid if termination occurs before the last day of the applicable bonus period.

In other words, the effective termination date for the employee must be July 1 or later for the employee to be eligible for 1H ECBP and Jan. 1 or later in order to be eligible for 2H ECBP and EB. As an example, if the employee's effective termination date was Dec. 31, the employee would not be eligible for either 2H ECBP or EB.

Redeployment Pay

You could receive as many as four checks when you leave Intel due to a redeployment action. For instance, if you select the immediate separation option, the payout may include salary buy-out payment, COBRA benefits, separation benefits and regular base earnings. If you select the redeployment option, payout may include salary buy-out payment, separation benefits, and regular base earnings.

The following deductions may be taken out of each check:

  • Wage withholding assignments, if applicable, may be taken out of the salary buy-out and separation benefits checks.
  • Medical, dental, life/Accidental Death and Disability (AD&D) insurance, HCRA, DCAP, disability insurance, Sheltered Employee Retirement Plan (SERP), SERP loan and wage withholding assignments, if applicable, may be deducted from your regular base earnings check.
  • No deductions are taken from the COBRA check if offered in your redeployment package.
  • Applicable taxes are deducted from separation pay at the supplemental rate, as required by law.

 

Stock

Stock Grants and Stock Purchase Plan (SPP) — UBS*

It is your responsibility to understand the impact terminating your employment has on your stock benefits, including the expiration rules and associated dates for each of your grants. To review the details of your stock account with a UBS representative, call 1-866-785-4682.

If you terminate employment with Intel before the end of a subscription period, you will receive a full refund of your SPP contributions for that period within 2-4 pay periods after your termination. Stock will not be purchased for you, and you will not receive interest on the money you contributed to the Stock Purchase Plan for that period.

You must contact UBS Financial Services Inc. with instructions for handling any assets remaining in your employee account within 18 months of your termination date. You may want to set up a personal retail account at UBS or transfer your assets to another broker. Note that country restrictions may apply, and fees associated with a retail account will become your responsibility.

 

Intel 401(k) Savings Plan

Intel 401(k) Savings Plan and Profit Sharing — Fidelity*

Within 30 days of leaving Intel you will receive a distribution packet from Fidelity that explains each of the options available to you for your Intel 401(k) Savings Plan accounts — 401(k) and Profit Sharing balances.

NOTE: There is a 30 day hold from termination dates on all Fidelity distributions.

To initiate a distribution from your 401(k) and/or Profit Sharing Accounts, contact the Fidelity Service Center at 1-888-401-7377, Monday-Friday (excluding New York Stock Exchange holidays). Representatives are available between 5:30 a.m. and 9 p.m. (Pacific). Access to your Intel 401(k) Savings Plan account does not cease upon leaving Intel — you can still log in from anywhere, 24 hours a day at www.netbenefits.com/intel.

If you have an outstanding loan at the time of termination or retirement, you will receive a coupon book which can be used to continue to make your loan repayments.

Contact Fidelity directly at 1-888-401-7377 to update your personal information and address changes.

 

Key Contacts

Intel Health Benefits Center
For Health and Disability questions:
(877) GoMyBen
(877) 466-9236 

MetLife Customer Service
For Life Insurance questions:
(800) GETMET8
(800) 438-6388 

Reed Group
For Disability Insurance questions:
(866) 532-5664 

Fidelity Service Center
For 401(k) and/or Profit Sharing:
1-888-401-7377 

UBS Representative
For Stock Grants and Purchases:
1-866-785-4682

 

Health Benefits

 

 

Medical and Dental Benefits

  • Medical and dental coverage end at midnight on the last day of the month in which your employment ends.
  • You will automatically receive a personalized packet with a COBRA Election Notice within three weeks of your termination effective date. The Election Notice includes information on the cost, deadlines, length of COBRA coverage, election form and Notice of Continuation Rights and Responsibilities.
  • If COBRA is elected within 60 days of your coverage end date or the date your notification is mailed, whichever occurs later, there will be no lapse in coverage.
  • If you do not receive your packet or have questions please contact Intel Health Benefits Center at (877) GoMyBen (877-466-9236). Intel's COBRA Administrator is Aon Hewitt*.
  • COBRA benefits are based on your home address — be sure to update your information using the Personal Data Change Form.
  • View the 2014 COBRA Medical and Dental Monthly Premiums.

 

Spending Account

 

 

Flexible Spending Account (Health FSA) and Dependent Care Assistance Program (DCAP)

Health FSA and DCAP contributions end with your last paycheck. If you have funds remaining in your Health FSA, you can submit claims for expenses incurred between January 1 of the current year and your termination date. You have until March 31 of the following year to submit them. For DCAP, you can submit claims for expenses incurred between January 1 and December 31 of the current year. You have until March 31 of the following year to submit them. Any money that remains in your Health FSA or DCAP accounts after March 31 of the following calendar year is forfeited, as required by IRS regulation.

Health FSA only: You may be eligible to elect the Health FSA through COBRA continuation. Since there are no tax savings on contributions made to the Health FSA through COBRA (contributions are made on an after-tax basis), you are encouraged to consult with your tax advisor to determine if electing Health FSA COBRA will be beneficial.

Information and claim forms are available on the My Health Benefits Web site or contact an Intel Health Benefits Representative at (877) GoMyBen (877-466-9236).

 

Life Insurance

Life insurance coverage ends at midnight on the last day of the month in which your employment ends.

You may have the option to purchase coverage directly from the insurance provider. Once MetLife* receives your termination information (after your term date) they will mail a conversion/portability packet to you. You must elect coverage within 30 days of the mail date on the packet sent to you.

Contact a MetLife Customer Service representative at (877) 770-4638 for an application to purchase Group Life and Accidental Death and Dismemberment (AD&D) insurance.

 

Disability

Short Term (STD) and Long Term Disability (LTD)

Intel STD and LTD insurance end at midnight on your last day of employment. Find more information at the My Health Benefits web site or contact an Intel Health Benefits Representative at (877) GoMyBen (877-466-9236).

Disability claims established prior to termination will be paid if they continue to meet plan provisions.

If your decision to leave Intel is due to a permanent disability, you will need to understand the differences in benefits that may be available to you. To find more information contact Reed Group* at (866) 532-5664.

 

Retirement Guidelines

If you believe you are eligible to retire from Intel, please schedule a personal counseling appointment with an Intel Retirement Services Customer Service Representative.

This representative will review each of the benefits available to you as a retiree of Intel. You may contact the representative directly by sending an email to: retirement.services@intel.com.

 

 

 

 

 

 

 

 

 

More Information

Still Need Help?

If the information provided does not answer your questions, please call the Intel Contact Center for further assistance.

(800) 238-0486
Monday - Friday
9:00 am to 4:00 pm (Pacific Time)