Received it
21 replies (most recent on top)
Heck ya! 13k bump to the retirement funds, love it!
Our match % is fine, and is better than many other businesses. My wife has done a good amount of job hopping in recent years trying to find her perfect spot and my 401k plan has been better than any of the diverse places she has worked. That said, the timing of a match IS a factor in the quality of a plan, and WF is the worst in that aspect. I'm fine with vesting schedules, it's a reasonable approach to link retention to retirement plans in a positive way. The annual match is the opposite, a blatant "we want to save money and hose your retirement savings efforts at the same time we downsize you" approach. There's no other purpose for such a change. It's nakedly anti employee. Overall we have a decent plan, but it could be a great plan if our executives weren't evil, self serving and incompetent hacks.
Funny that you’re quick to correct other people and yet are unable to properly proofread your own reply.
Your statement. “Our match is more generous than most other companies offer” only serves to announce you’re drinking the Kool-Aid. If you can’t back it up with documentation originating from a public source other than Wells Fargo, than you’re just wasting your own time.
Imagine working for Wells for 21 years the getting laid off, with the last day of your notice period being just about one month shy of the 401k match cutoff date.
It was distributed at $68.55 share price, it closed at $70.25 before holiday. Make sure you sell that b@tch at market open.
If your math is pathetic it is either because your salary is pathetic and you need to skill up, or you didn’t even contribute 6% yourself. Our match is more generous than most other companies offer.
"If you were laid off in 2023, but still under severance as of 12/31, do you get your match?"
Employees on severance cannot contribute to their 401k or Roth, meaning you did not have contributions for Wells to match (to).
"If you terminate due to displacement under the Wells Fargo & Company Severance Pay Plan, you are no longer eligible to contribute to the 401(k) Plan or receive employer contributions, and therefore, your contributions and employer contributions will end"
Awwww Charlie f’d you over too. S&P 500 up 25% this year. Your “6% match” would be worth considerably more if Wells didn’t hold on to the match until year-end.
Sell it as soon as it hits the account! Don’t get sc--wed again!
My match came in the form of my regular stocks, not the Wells Fargo stock. If you didn’t change it that’s on you. We have known about this all year.
Now transfer it out of the cr-p Wells Fargo stock into the NASDAQ 100 index fund.
Amazing company that truly cares.
I don’t want to be mean to the people saying “the 6% match is amazing” but please wake up and smell the bs they are feeding you. They matched you in company stock at the near high for the year. If they were doing it monthly or even quarterly, you would already have a near 20 point gain on part of the match. Charlie is f’cking us all over in every way possible.
If you were laid off in 2023, but still under severance as of 12/31, do you get your match?
Disregard on missing deposit. It can be seen on the Transaction summary at the bottom of the Account Overview page, but it is not present if you go to the actual Transaction History screen.
Newb - anyone's deposit now missing?
A 6% match is excellent these days
Lost a lot of gains this year by not getting match quarterly like before or even every paycheck like many companies do. But Charlie saved the bank lot of money from all the people that quit or got canned midyear, so he can smile about that.
There are a lot of things wrong with WF, but the match amount isn't one of them. 6% is crazy good. It's annoying they shortened it to once a year though.
Yeah mine was awesome.
Had a 5 digit deposit. I'm not complaining