Any word heard on profit sharing?
18 replies (most recent on top)
So like I said before, profit sharing is dead. Maybe a few people get it, but who gives an S? I used to get it, now I don't, and Shart can go F himself. Dude cuts our S but buys a half billion dollar office that no one wanted in NYC? That mo--n can su-k it.
If you seriously see only 1 transaction on those dates then you did not qualify for one or the other. I have spoken with 4 employees who each had 2 transactions, one of which was equal to 1% of their annual pay. The other was their 401k match.
I’m not seeing the PS deposit
No, there's just one transaction. Match and that's it. Same with 2022, and 2021.
@2qcb+1wcMuixP
Your second date should be 12/30 in 2024. But otherwise correct. Looked it up just last week.
"We used to get some ps $ for our 401ks every year. It was a bone they threw us when they froze the pension plan..Shart clearly didn't like PS and it's been 0% for several years now."
False. Look at your 401k transaction history. You'll see 2 deposits on final business day of the year. One for 401k. The other is 1% for profit sharing. 12/29 in 2023. 12/30 in 20233.
Why do people like you post statements as though they were fact when you know that you do not know what you are talking about?
Profit sharing? Charlie sharing the profit with the ants?
C'mon now.
1ocw+1wcMuixP
Yep, it never went over 2%, though the approved plan allowed up to 4%. Honestly, things went off the rails when they said in writing that PS was based on the company's previous year performance. This naturally leads people to think 'profits are up, why is profit sharing down?!'. Bad look for the execs, so they decided to stop doing it completely. Can't have the plebes getting to much of the profits, right? Now they just keep them for themselves or waste all the money on stock buy backs trying to prop up the zombie stock.
Anything h3lls Fargo can do to pinch, disrespect, torture and belittle, they'll do it. They want you to leave, they don't care.
Everyone uses to get it. Was around 1-2% for all, but only in 401k. Then it fell off a year or two. Then, it came back but only for those under a certain compensation total.
The official policy used to be that they could give a range of 0-4%. I never saw anything above 2% for the 15 years I've been here.
Used to get 2%, then it was 1%, now it's no percent. Lame.
They quietly discontinued it a few years ago and think/hope we’ve forgotten about it. But we haven’t.
I thought people below a certain comp got it? Something like $50k?
We used to get some ps $ for our 401ks every year. It was a bone they threw us when they froze the pension plan..Shart clearly didn't like PS and it's been 0% for several years now. I never even hear it mentioned anymore, so I assume they ki-led it.
All future profits will go to the 0.01%, the rest of us should be happy to get anything.
Who gets this?
They will do a 5k cash bonus to every employee in the company except the union members.
The site says last day of the year or as soon as possible after. Don't expect it early