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 to receive 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.
Personal Data
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.
SERP 401(k)
SERP 401(k) 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 SERP 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 SERP account does not cease upon leaving Intel — you can still log in from anywhere, 24 hours a day at www.401k.com.
- 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.
Pay
Pay Check Delivery
Standard Final Paycheck Delivery is typically direct deposit on the next regular pay cycle.
Exempt Base Pay Calculation
To determine how the final base paycheck is calculated, refer to the example below:
Exempt Paid Time Off
Unused vacation time will not be paid out at termination (except for California and Massachusetts employees).
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. If you are a California employee, your earned, unused floating holiday(s) will be paid out upon termination.
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.
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.