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I was left a voicemail from a phone call from a personal phone number saying that he was from Wells Fargo 401k Plan and that they received a change in the status of the account.
I'm not sure if this is a phishing attempt.
I can log-in and everything seems fine. From my understanding I could keep the funds in the account.
When I call the phone number from another phone I have, I am greeted with "Thank you for calling Empower. Your call may be recorded..."
Was it scam call?
No matter where you work, you should work toward accumulating a financial base to where you can tell anyone that they can go “F’ yourself”. This takes time, a lifetime in some cases but it can be done.
Don’t spend your raises or bonus’s and funnel your extra money into investments. On raises and bonus’s, put about 10% of that aside to reward yourself but be as frugal as you can be. Now Citi does not make this easy as they are extremely lacking in rewards for a job well done but still this is an achievable goal. Work toward a 1 month pay in liquid cash, then 3 months. Put this amount in a CD at a fixed interest rate. Then work toward 6 months, put this into a CD. Then 9 months, same thing, then a full year same thing. Again this takes time. Once done though, as they mature, you’ll be faced with a decision to cash them in or roll them over. Stagger each CD purchase to where they don’t all mature at once. I get it, I really do. This is not a quick fix, its not a fast turn around and you have to spend money to live. It’s a choice though that’s worth the sacrifice. Max out your 401K always.
Resist the urge to have the latest and greatest Iphone, entertainment center, PC, car….etc. … Work hard toward wealth, not money. Build enough wealth to where you don’t care what Citi does. Enough cash reserves to where if you get let go, its of no significance to your life.
If this is so great and fail safe why am I still working at Citi, you may be thinking. I have a good gig. I’m happy and I get paid. Should Citi ever deem my employment no longer needed, that’s ok too. Should Citi ever do or mandate something that I don’t care for, no issue there, I’ll just walk. Simple as that.
I admit, its not always been that way but like I said, this takes a tremendous amount of time and its exponentially harder to do if you have kids but this is what Citi hinges on. They rely on your desperation, your continued need to have to have this job. The more desperate you are, the more you can be abused and strong armed to work crazy hours with the implied “or else” that’s aways preached. They are masters at telling you several things to enforce this. Key phrases such as “its a bad job market out there” , “better the devil you know”, “other banks operate just like this” and on and on. At times all of this is true, at times only some of it and at times none of it is true.
There are other job sectors to look into you know. Citi would have you believe that this is the only place you can ever work and this is the only place that would ever employ you. It’ll do you no good to ever look anywhere else for a job, this is as good as its ever going to get in your life. This is just not true so don’t buy into it.
Work hard, invest what you can, invest in yourself as well (skillset), be patient, network outside of Citi, take care of your heath and work toward the goal of having enough money to where you walk away anytime you want to.
I am not able to get it from the HR site. Eliza is also not helpful in this aspect or I am no good in using Eliza - who knows
Waiting for the 401k matching credit (or should I) and the bonus check. Foregoing the RSUs
Questions are
Verizon has been selling our pension funds, we loose guaranteed protections. The union needs to negotiate to allow us to roll our pension balance into our 401ks.
I heard that this will drop at the 1/23 pay period. Did anyone else hear that too?
So Bonus is not included in the 401k
Quitting this dump this year. Can I take my 401k and pension and roll them into my next employers 401k plan?
If I rage quit same day how do I do this?
May seem like a d-mb question but I’m concerned they’ll pull some schiesty BS
Im 2 years away from the magic number 75=years of service + age min 50. Is it worth it to stay at VZ if you have a good opportunity offer with another company?
Will these benefits even be around in the future? Ill be 51 in two years theres no way i can stay here much longer. I heard the pension maxes out at 30 years service.
Edward Jones made a change at year end to investment choices in the 401k.
While Suzan and her s$@t HR function did the bare minimum to communicate these changes through the 401k provider (Empower), it was buried under annual disclosures and most of home office and the field were caught completely unaware that the company made new investment choices on their behalf (Really great precedent for a company managing CLIENT investments, right!?).
Not sure I am surprised at all given the character of this company and its leaders, but just a friendly reminder to be sure to check on your 401k.
Customer Service skills that have moved back to FT are FAST (top producing financial professionals), WT or Wealth Transfers (non-retirement transfers such as death, registration changes, etc.) and next week VIP SH services. The contract with FIS requires that FAST and VIP be serviced by US staff. When VIP moves over, there is no more contractural requirement to keep remaining US staff on board. There are highly tenured FT Legacy US staff remaining whose applications to return to FT keep getting rejected. Why? FIS will retain the Retirements and Shareholder skills until the end of tax season. Tenured staff with those skills are needed to maintain service levels. Why else would staff with years of experience be repeatedly rejected from returning to the same roles at FT? This is the anxiety being felt among those staff members. FIS will no longer be servicing FT after May 2026. The remaining staff is highly demoralized. Teams have been consolidated into unmanageable groups. It seems likely that the final layoffs will be announced in March. It's a terrible way to treat people who were not responsible for any of the choices that led them here. One last important point, those rehired at FT are doing so with a pay cut. That's right. you can perform the skilled role at FT that you are performing now for less money. The benefits are better and the 401k match is higher (85%) but the salaries offered are lower. Make that make sense.
What the title says - I've managed to find a new job and will be leaving next month. Will I still receive my 2025 401k match?
I am a new employee and was wondering when the 401(k) match would hit our 401(k) accounts? I know it’s only $3000 but every little bit helps. Thank you in advance for the information.
Just wondering if anyone will continue to hold CVX stock in their 401k?
For those recently displaced, how long did it take for you to be eligible to rollover your 401K from empower after your end date? As i understand it in your empower profile you have to be switched from "active" in terms of WF employment?
How does it feel to see the first one hit the account? Between this and the new tax for paid leave in MN we are making less than last year as they tighten the sc--ws and ask for more from us. Time for a new job.
I missed the communication that all my well-performing mutual funds would be mapped to a couple of ETFs, a target date fund and a generic bond fund. My well diversified portfolio that's averaged 12% annually, wiped clean by the geniuses running this ship like it's the Titanic. No more individual fund choices unless you go with the self directed brokerage account option, which I will be doing.
Nearly $500k between me and my spouse completely trashed by the geniuses on the 10th floor.
Account > Overview > scroll to the bottom and you will see it under your transaction history.
When will company match for 2025 be posted in Empower?
Do I have to pay the money back before the time I agreed to paid the loan back ?
Why is the union negotiating for an extension? Why not get a new contract. They have to fix retiree Healthcare. Then the union should try to get everyone a pension or at very least a bump in the match in 401K plans.
For those of you that were laid off, or left, after age 55, does the 401k plan offer partial distribution or only lump sum? The SPD doesn't mention. Fidelity states partial is allowed, but says it can't provide documentation since it "could" change.
I am over 55. If I leave Dell by layoff or my own decision, will I be able to choose whether I an withdraw from Fidelity's traditional 401k or the Roth? Or do they just have one bucket split proportionally?
What’s in the VRP? I’m 55 so do I get access to my 401k without penalty? What about stock? 2 weeks for every year of service?
Are they gonna sweeten the deal?
Anyone use the the advisory service they offer? Is it worth it?
All in all we can’t complain too much. The stock is rocking and if you held the matches over the past few years in your 401k you are doing ok!
Everything that was said in that stupid meeting could have been said in an email. Your employee survey feedback su-ked and you still don’t get it!! Just hold more meetings to see why and how convenient no time for Q&A!! No mention of the 401k cuts.
Asked my manager as a follow op with the 401k going down and what other total compensation costs there are projected to be in 2026. She was surprised that barely any people were asking about that, granted the area I work in is basically all women of the older demographic. Do a lot of the people just not care with all these cut’s happening?
I know this is not the best place to get good feedback, however I am finding it difficult to get "honest" input anywhere. For those that have left, or are still with the company , any recommendations on a company (The Retirement Group, Quotient Wealth, Fidelity, or others) that can help to navigate and manage pension, 401K, etc? I am not savvy in this area and would like some help until I am confident to do it on my own or keep it longer term with support. I think a fiduciary is important. Please just helpful comments and maybe that is asking too much on this site. Thank you.
Following up on the email from yesterday regarding the 401k and today's town hall, I need to address the ongoing issues we're facing. It’s unacceptable that we are constantly being pressured to violate labor laws by working through lunch. PTO has essentially been eliminated, and now we have to seek permission from Workforce just to take time off.
Additionally, being asked to handle two chats at the same pay after the recent pay cuts is beyond unreasonable. We deserve clarity on what management truly expects from us. Why is there a lack of communication regarding the reasons behind these changes? Are the whistleblower TikTok videos the cause of this? It’s time for transparency and respect for the workforce.
Well said, @2m0+1katwry9c.
After the merit inconsistencies last year, some groups losing bonuses, and now the 401k match being reduced, it feels like employees keep taking the hits. And during the town halls, the leadership messaging doesn’t seem to land anymore. There’s a big disconnect between what’s being said at the top and what people are actually feeling day to day. A lot of us don’t feel understood or valued. Morale feels low, people are tired, and many feel disconnected from the mission.
Good point, @af+1kc2cc38k.
Merry Christmas, everyone! Even Clark received a Jelly of the Month Club subscription! And let me tell you, giving us a T-shirt feels like a consolation prize after you decided to downsize the 401(k). We deserve better!
If Robin and his fellow board of ejector directors ruin BNY and run it into the ground, are pensions guaranteed and safe to those who were lucky enough to earn them? What about any medical benefits, 401K or money we paid into? Obviously BNY stock could bottom out but I would think pensions and benefits earned should be safe under the law?
Beginning to think it’s not a question if Robin could do this, but, when?
Effective 1/1/2026, UHG/Optum/UHC will reduce the maximum for their 401K match from 4.5% to 3.5%.
In case anyone was wondering if they're trying to get employees to give up and leave.
There are postings I see this week of roles I know 100% were a pay grade higher which is now lower by one level.
So take away our bonus, lower 401, lower raise, more workload, less people and now downgrading roles.
Fu-k you optum.
With the 401k funding change, could severance packages also change?
They aren't going to let up.
Let the decreasing 401k match be a clue as to how RRP and Merit funding will be this year.
By decreasing the 401k match by 1%, they on average TOOK $1,000 dollars from a UHG employee making contributions. Compound that $1,000 over ten years and you're at $15,000 that the company took from you. Now do that every single year. They will keep bending us over and you're a su---r if keep giving this company anything more than 10% of your effort because they sure as heck aren't giving you anything
Saw the email come through. So our employer match is decreasing. This is ridiculous.