I've seen it mentioned in a couple other posts replies but I think it merits its own posting. I've been with RJ just over 5 years (well used to be with RJ). Each year it seems we get roughly 5% Profit sharing and 2% ESOP. I know I heard in one of these postings that we still will qualify for this in December. Does anyone have any other information that they could share like how will we find out about this other than it magically showing up in our Principal Accounts. I want to get every drop I can out of RJ. Leaving nothing on the table. they already got my 86 hours of sick time. I would have thought we should have been paid this since we did not quit or terminated for cause but I guess there is some "fine print" somewhere that says otherwise.
6 replies (most recent on top)
When is profit sharing etc typically paid out? I was only with RJ 18 months and principal cut checks to me before 10/16 because I was only partially vested. I had very little in there and after they took admin fees barely anything. I am curious because I don’t even have a principal account now. Thanks!
Those who were laid off were still considered "employed" by the firm until 10/16 so I don't see why they would be able to keep from paying out ESOP & Profit Sharing. I'm sure they'll find a way if they are able though.
should be very interesting how Paul words his email this year with 500 of us watching and waiting. Profit sharing and ESOP are both tied to profits and earnings. No management decisions here so we can't be cheated.
I really appreciate people posting.
Sick time is never and has never been paid out to employees once they have left the firm, whether by choice or not. That’s why I always kept my sick time to a minimum.
In the severance package there was a comment in there that if we are employed on 9/30 we qualify. I expect RJ will do the right thing here (at least I hope they will). If not it might be lawyer time.