The company used to have 30 day working/30 day non-working when laid off. Now you're gone the same day. How does access to 401k etc. work after you're removed from access? I'd think your displacement packet would have key numbers for say 401k etc. so you can move your funds out of the 401k etc. Same with any restricted stock etc or the pittance of the cash balance plan. If I get the boot, I def want take everything with me.
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When you get the notice, it will be something like this.... you get on a meeting with just you and your manager. He is REQUIRED to keep any prior knowledge to himself /herself or he/she /they will lose their job by being fired so don't ask if you getting laid off. 60 days of notice is plenty of time to make plans. As far as "Taking it all with you" ... pump the brakes on that idea until you get a full grasp of your situation. you may need to actually talk to a financial advisor because their are rules and penalties if you do it wrong and they WILL LET YOU DO IT WRONG. so unless you are very well educated on 401Ks , see the advice of a professional advisor, mistakes can cost your tens of thousands of dollars. AND RELAX , you can't be cut off from your 401k and you can just leave it in empower and let them manage it... they have NOTHING to do with Wells so, wells can't sc--w you over after its over... plus you can move it to another 401k at a later date and that may mean rolling it over to your future employer's 401k plan. if that looks good at the time. Also the Cash Balance plan balance is just given to you as an IRA type check which means if you try and cash out before you are 59 1/2 you will pay a 10% penalty PLUS be taxed on it.... so they issue you a check of sorts but you can't just deposit it into your checking account, you need to establish an ira and deposit in that... I took the easy way our since I have Wells Fargo personal banking checking and savings already, went to Wells Fargo Advisors and and they setup my account and deposited it in an ira type account and put it into money market earning about 5% per year since 2021.
lookup Teamworks from home, but you can also create an external account for empower.
You are still an employee for 60 days and have access to teamworks. 401k paystubs etc.
What I heard was 30 minutes before locked out...
Your manager will explain everything.
Before your locked out follow the steps to access empower / 401k outside of the banks network
Go to account info and copy your account and their contact number, they can do a rollover to register bank