If you read the email about changes to 401k, then open the link to the detailed document...and scour thru 8 pages of bullets, you will find the change that moves the matching from quarterly to annually — never a mention of these changes in the big town hall meetings OR a callout in the emails...come on, we deserve better than the hidden bad news!
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@1ouj+18dCgmWA. No, it’s not the same. Let’s say you invested in your 401k from Jan1 to Nov30, 2021. And you are laid off or Quit before Dec 24, then you will not get the match for the entire year.
Invest in an IRA or invest it yourself, with another bank of course!
Great article and pay close attention to the layoff and ageism statements in the article that certainly WF, with it's high ethics, morals and non-discriminatory stance would NEVER do. insert eye roll
https://thechicagofinancialplanner.com/year-end-401k-matching/
Isn't matching 6% yearly vs 6% quarterly the same thing?
Can’t believe they would do this with zero announcement.
Yep its so these b–tards can save cash by axing everyone pre December
I see nothing gets by the OP of this thread.
It was smaller print but was there in the announcement. Wasn't talked about by leaders but why would they. Biggest change is that if you resign, get fired or RETIRE before 12/15/21 you lose the whole years matching funds. Only retirees 65 and over can keep the matching funds upon retirement. If displaced your severance period must run through 12/15/21 or you lose it also.
did you just wake up from being under a rock. seriously everybody and their dog knew this, apparently before you.
wake up, its been talked endlessly.
It was announced via email and the corporate intranet. You just weren't paying attention.