So if you quit in the middle of the year, you do not get any 401k match for the months you worked. Is that correct?
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Part of the ComputerShare team that list their 401k matches on 11-1- 21
The once a year match and my sh---y manager, I couldn't wait to get my bonus payout and GTFO!!
That’s correct. Chuckles and WF don’t care about your retirement.
I think we all have to give serious thought as to why we show up every day to work for a scumbag company with a scumbag CEO and a scumbag Board. There is no other way to characterize it. The Board rewards Charlie for sticking it to the employees. We are in trouble with the regulators. The Board approves Charlie spending billions on stock buybacks rather than long-term improvements to the bank and technology. Employees are getting sick since RTO. I hope everyone is working hard to GTFO.
@1des+1h0EPslM It really wasn’t though. When it was announced, the part about annual matching was buried within a much longer announcement of switching to Empower.
One of Charlie’s achievements.
Imagine if these things were only broadcast out to the entire company via multiple emails and is easily visible on teamworks….
The 401k thing is overblown. They save more on the bonus side of things. You used to get partial or prorated bonus. Now they're strict about being here at payout.
And they want us to contribute to the Wells Fargo PAC. I marked my email notice as Spam/Phish.
Welcome to the party, pal.gif.
AND loss of compounding, which robs employees of thousands per year!
This enables Wells to afford those high DEI salaries. I think we can all agree that the return on investment with DEI is monumental. Tongue in cheek is my comment.
I always thought this was one of the most drastic “financial” changes for employees. The company has to be making so money this way- think of every person who quits, retires, or gets let go they do not have to match that 6% for now!
Yes, this is why there was a huge exodus after the match was applied.
Correct. It's a huge cost saver for the bank and a good way to sc--w your out of a supposed benefit. It's the last step before eliminating matching all together
Yep.