I always thought it was 2 weeks for every year with not max. Everything I’m seeing now shows max of 26 weeks…can anyone confirm or deny this
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Severance used to go to 24 months but the regulators cut it back to a 12 month max around 2017/2018.
@OP lol, no. That rumor never works here.
Particularly since everyone knows to look at the publicly available Benefits Book, Appendix F: Severance Plan Summary Plan description (SPD) at https://teamworks.wellsfargo.com/benefitsbookspd/
Completed years of service = <1 through 4 = 8 weeks severance (or 4 paychecks);
For 5 through 26 years its double that number of weeks for the severence (# of paychecks = # of years);
26+ years caps at 26 (52 weeks severence)