2023-01-31_dkellerman__RIF 2023 Frequently Asked Questions (to support Leader & HR)_ (1) (1).docx

Frequently Asked Questions (to support Leader & HR):

What are the reasons for a reduction in force (RIF)?

Please see the Talking Points

Why was my position chosen for the RIF?

Positions are selected based on the functional needs of each department and geography. A thorough review of all roles was conducted and unfortunately, your role is being impacted.

Who else is being laid off?

I can’t share who else or what other departments are included at this point.

Can I request a review of the RIF decision?

This decision was not easy and made only after a long and careful review. Therefore, it is a final decision.

Can I apply for another role at TheKey? Are separating team members eligible for rehire?

Yes, separating team members are eligible for rehire. All current open positions are located on the TheKey website.

Can I collect unemployment? How do I apply for benefits?

Yes, you may be eligible for benefits since your separation was due to a reduction in force. Specific unemployment guidelines for your state will be provided to you in an email to your personal email address along with other separation documents regarding benefits, last pay and severance.

Will I be paid for my PTO and my sick time?

Non-exempt hourly employees will only be paid for Sick and PTO if the State they reside in requires payment.

When will I receive my final paycheck?

Each HR member will have a list of State-Specific final wage rules when meeting with individual employees. For most States, employees will receive their final paycheck on the next scheduled pay date. However, in California, Connecticut and Colorado they receive their pay within 24 hours.

How will I receive my severance pay?

Your severance payment will be paid in a separate check. Severance payment will be made after you have an opportunity to review and sign the severance agreement and after the applicable revocation period. Your severance agreement contains the review period you have to consider the severance and make a decision. You are free to sign the severance agreement before the review period expires.

Will I still have access to my pay stubs and W-2’s?

Yes, you will retain access to Paychex Flex where you will be able to view and print your pay stubs and W-2’s.

Who can I contact for a reference for future employment?

Your future employer can contact hrservicecenter@thekey.com

How do I return my laptop and/or cell phone?

Our IT department will send a FedEx box to your home with a prepaid shipping label, after packing your devices in the provided boxes, please include your name and email address inside the box and drop the box off at a FedEx facility.

What happens to my benefits?

Your benefits will continue through the end of the month. After this time, you will have the opportunity to continue your benefits through COBRA. Specific information on how to elect COBRA will be provided to you by our COBRA administrator. Additional information will also be provided in your separation documents.

What happens to my 401(k)?

If you participate in the 401k plan, you will receive a distribution request form. You may then elect to roll over your distributions to a qualified retirement plan (a 401k, 403b or IRA, etc). The Ascensus Sharebuilder phone number is 866.794.2158 if you have specific questions.

How will existing team members get their personal items back?

They can collect them that day, if they need to come into an office, they can make arrangements with local leadership.