Standard Final Paycheck Delivery is typically direct deposit on the next regular pay cycle.
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)
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
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
Any EB payout will be made at the normal payout distribution time (typically first week of February)and will be prorated for the months of participation during the year in which retirement occurs. If your retirement date is between the 1st and 15th, you will not receive credit for that month towards your pro-rated EB pay out. If your retirement date is between the 16th and end of the month, you will receive credit towards your prorated EB payout.
The ECBP payout will be made at the normal payout distribution times (typically January and July)and will be prorated based on eligible earnings for the months of participation during the period in which retirement occurs.
In the event a retirement eligible employee is terminated for misconduct, including but not limited to any conduct that would result in immediate termination under Intel’s Discipline and Discharge Guidelines, such employee will not be eligible for an EB payout unless otherwise approved by Intel, in its sole discretion.
Re-Deployment 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, Intel 401(k) Savings Plan and Retirement Contribution, 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.