I am considering retiring. I know Wells offers nothing in retirement except keeping your RSRs (for those who have them). I have a notice period. Has anyone went to work after the notice period and how would Wells find out if it were within “financial services?” I have heard they send you a letter asking you to certify you are not working for another bank. I have also heard they have ways of knowing either your income or taxes but that seems thin to me.
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I retired in March. So you will get an attestation in Q4 every year you still have RSRs. You must attest that you are not working for another competitor. I don’t know how they check, I suppose they can get the data from a variety of sources, but the question is will they? I would think that retirees are the least of their concern, so probably not.
WF will not easily let you retire, but they will find every excuse to fire you before your retirement. Remember this old article from 2012?
"Wells Fargo fires Iowa worker for minor 1963 crime"
https://www.yahoo.com/news/wells-fargo-fires-iowa-worker-minor-1963-crime-173356620--finance.html
Each RSR grant has a contract which governs it. Go and read them. I think from 2021 to 2024 there are two different ones. The original question was on retirement though and there are other (mostly laughable) benefits including healthcare, I’d suggest the OP check out the retirement section on our employee website.
I think the OP is talking about working AFTER his/her notice period at another bank, which from what I have heard is counter to the agreement in the RSR award. I have heard that folks are suing b/c of this and that it’s not enforceable. I have wondered myself about how WF would know where I’m working say six months after retiring and why they would even think to check.
because your payroll information is sent to ADP who processes it -- and thousands of other companies do as well. there is also employment verification companies that subscribe to the info from various payroll processers to aggregate it and provide reports. If you work during your notice period and get a payroll check.. just assume they will find out.
there are people in CB and CIB who have notice periods, it’s in the leaving WF policy.
You say, "after the notice period." There's no problem working anywhere else after your notice period ends, unless you have some sort of non-compete (which I think probably doesn't exist at Wells and may no longer be enforceable).
huh?!?!
So basically, you're trying to circumvent the cliff beating schedule?