Archived Mystery check 6 months after leaving spot

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So I quit the first of august, got my last paycheck mailed to me which included vacation hours. I cashed out my 401k because I needed the cash for moving and before getting student loans for law school. So at that point I thought that spot did not owe me anything more, I thought that I had milked that cow. Just today I received a sizeable check in the mail, slightly larger than my paychecks were. I worked for spot for just over 5 years, in three stores. I spent the last year at a new store and was quickly promoted to electronics team member, but I didn't notice the paygrade increase until my ETL-HL was forced out, nothing was ever said to me about the extra 50 cents beyond when my schedule changed (I asked the brand new eTL-HR if I would get the increase, but she told me that I was already getting paid more than 90% of people in the store so I probably would not get it). My question is, is this a pension payment for the end of the year, or did someone in either my old store, or HQ accounting realize a pay mistake and sent me a check? I'm not complaining about mystery money, I just kind of want to know where it came from.
 
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It's really hard to say unless your check came with a letter about accounting errors in your favor. You might want to contact Target and see why they sent it.
 
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It was your pension payment. It was a great perk until it was stopped by spot about 2 or 3 years ago. What was nice is, that you could withdraw against it without penalty.
 
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It was your pension payment. It was a great perk until it was stopped by spot about 2 or 3 years ago. What was nice is, that you could withdraw against it without penalty.

well that's good to know. Who ever thought that target would pay out a christmas bonus, apparently you only get those benefits after promoting yourself to guest (I left on my own terms with 2 weeks notice, hence I promoted myself to guest).
 

band_rules16

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yeah, it's your pension payment. Mine should be coming in the next few weeks. They recommend you rolling it over to another account, but I haven't found a way to do that...so I'll get something, except it will be taxed. :(
 
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well, I already received my 401K payout, this was different, but I still suspect that it was the pension. Nice to get extra money now since I only have student loans, no income.
 
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Well, I know the benefits of the IRA, but I did not have a choice, I needed the money at the time because I was going to have zero income for an extended period before I would receive a refund check from school, sux, but spot took out the 20% chunk on the front end on the pay out. If you would have paid any attention to the OP, I said that I have been gone for 6 months and already received my 401K payout....
 

ptl

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Well, I know the benefits of the IRA, but I did not have a choice, I needed the money at the time because I was going to have zero income for an extended period before I would receive a refund check from school, sux, but spot took out the 20% chunk on the front end on the pay out. If you would have paid any attention to the OP, I said that I have been gone for 6 months and already received my 401K payout....

Hey, don't sweat it. I didn't touch my 401K when I left (also this summer, also for law school. Small world!), but I took the payout on the pension. Ya gotta do what ya gotta do.
 
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Call Fidelity, Vanguard or T. Rowe Price. They'll be happy to walk you through a rollover into one of their IRA accounts - and it won't cost you a cent.
yeah, it's your pension payment. Mine should be coming in the next few weeks. They recommend you rolling it over to another account, but I haven't found a way to do that...so I'll get something, except it will be taxed. :(
 
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Hrm. My husband got the pension check too about 2 months after he was termed... I quit in Aug 2009 (and came back April 2010) and I never got mine. o_O
Odd.
I didn't even know they existed until my husband got his... and then I was like, wheres mine!? lol
 

ptl

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Hrm. My husband got the pension check too about 2 months after he was termed... I quit in Aug 2009 (and came back April 2010) and I never got mine. o_O
Odd.
I didn't even know they existed until my husband got his... and then I was like, wheres mine!? lol

You only get the payout automatically if your balance is under 5k, if I recall correctly. Anything over that, they continue to manage it until/unless you tell them to pay/roll it into something else.
 

pzychopopgroove

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well that's good to know. Who ever thought that target would pay out a christmas bonus, apparently you only get those benefits after promoting yourself to guest (I left on my own terms with 2 weeks notice, hence I promoted myself to guest).

Off topic, but, I see what you did with your username.
 
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