I plan to retire around mid-year. Does anyone know if WF will do the 401k match in this situation. I'm torn between "retiring" and just "quitting". Thanks.
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They changed the rules last year, if you retire you no longer get a pro-rata bonus. I know several people who retired last year (mid-year) and got nothing. They also changed the 2023 bonus plan so that if you get displaced before 30th Sept, you no longer get a pro-rata bonus. (that's been changed from prior year). Joke of a company and how they treat people and don't even tell them of the changes , they hide them in the prospectus that most people don't read
Also going to retire some time this year. Bonus in my group is hit or miss, and I'm not one of my manager's favorites.
If I get a bonus in Feb then I'll work until mid year and give my manager 2 weeks notice before retiring.
If I don't get a bonus in Feb then I'll work until mid year and then quit without notice.
If anyone knows of any solid advantage to retiring vs quitting for regular people like me, I'm all ears............
One benefit to retiring vs quitting is you are eligible to have your bonus pro-rated if you are receiving bonuses. You do have to “qualify” to retire from Wells Fargo, depending on your age and years of service.
Does anyone know what benefit to retiring rather than quitting? Besides the aforementioned 401k match, and free checking.
Wait it out…make them fire/offer you a package. Don’t leave money on the table.
Free team checking if you retire.
If you retire mid-year and are at least 65 you get the match. Otherwise no. There is some verbiage in workaday about this exception for matching.
Check your statement, 401K Employer contributions were paid on 12/30/2022. Hope it helps get you through the layoff bo-b cyclone in the forecast!
Have t be employed on Dec 15th to get the 401(k) match for the year.
Always retire if you can.