Thread regarding Wells Fargo & Co. layoffs

401k eligibility match..

If 12/15 falls within your two week notice, ex, resign on 12/2 with last day of work on 12/16. Is company required to match. Everything thing I read states that employee is eligible for 401k match if employed on 12/15. Any insight is appreciated.

by
| 1866 views | | 11 replies (last ) | Reply
Post ID: @OP+1jBUXHe2

11 replies (most recent on top)

OP - you have to be employed on 12/15.
If you resign:
If you give notice and are still employed on 12/15 - you get the match.
If you give notice and they show you out the door (I.e. they term you immediately and don't accept your two week's notice) then you are not an employee on 12/15 and you don't get it.
If you are displaced:
If 12/15 is within your "notice period" (either 60 or 90 days, depending on state), you are still an employee and receive match.
if 12/15 is after your notice period - no match.

by
| | Reply
Post ID: @1vae+1jBUXHe2

Medical coverage is through month end and COBRA is available after that.

by
| | Reply
Post ID: @ssj+1jBUXHe2

Why are you so concerned about the 401(k) match? Don’t you realize you spend more on Starbucks each month

by
| | Reply
Post ID: @kff+1jBUXHe2

As someone directly affected this year, I was told it is for all eligible employees on that date. If you are on your 60 day notice, you'll get it.

by
| | Reply
Post ID: @mbc+1jBUXHe2

Be careful! These a$$holes will cut you loose just to keep the messily match you’ve earned this year. Quit on 12/16/2022

by
| | Reply
Post ID: @spg+1jBUXHe2

this situation applies to bonus too (if eligible) can you stick it out until March?

by
| | Reply
Post ID: @gwt+1jBUXHe2

Don't chance it until it's in your account

by
| | Reply
Post ID: @sod+1jBUXHe2

Solution: schedule 2 weeks PTO starting 12/16 and deliver your notice on 12/16.

by
| | Reply
Post ID: @lng+1jBUXHe2

I wouldn't give notice. Wells' policy is to not allow managers to give references (a lot of companies do this too). If a future employer calls, about all they'll get is dates of employment.

by
| | Reply
Post ID: @lai+1jBUXHe2

You get nothing. No match.

by
| | Reply
Post ID: @emg+1jBUXHe2

A word of caution, what if they don't accept your 2 weeks notice and you're terminated the day that you offer it? I have heard of this situation and the person's medical coverage was cancelled immediately.

by
| | Reply
Post ID: @trl+1jBUXHe2

Post a reply

: