Heard something if your age plus your years at Wells add up to 80, they want you to go. Any truth to that?
10 replies (most recent on top)
Post ID: @1jku+1aegPhsd
Thank you for providing that information.
Post ID: @1jkw+1aegPhsd
The OP was partially correct in regards to the number 80, and was asking a question. No need whatsoever for you to respond in the way that you did, unless you know something about the topic at hand, which you clearly did not. Try shutting up if you don’t really have anything to bring to the table.
I found the following info regarding retiree health care from https://teamworks.wellsfargo.com/pdf/5StepGuideRetiringFromWellsFargo.pdf.
If you meet these eligibility requirements...
In a benefits-eligible full-time or part-time position on your last day of
employment and meet one of the following:
• Age 55 with at least 10 completed years of service,
• Age 65 with at least one completed year of service,
• 80 points (based on age + completed years of service), or
• If you were:
– In a benefits-eligible position and on Wachovia’s payroll as of
December 31, 2009, and your age plus full years of service equaled 50 or
greater as of January 1, 2010, and
– On your last day of employment with Wells Fargo you are at least age 50
with 10 or more full years of service.
@nob thinks the idea of arbitrarily adding two numbers to get a total of greater than or equal to 80 leads to sound layoff practices, but by pointing out how ridiculous that assertion is I'm bullying and spouting off about things I know nothing about?
Sounds like you're projecting.
Post ID: @jck+1aegPhsd from Post ID: @ynu+1aegPhsd
Your post is evidence that at least one of the schoolyard bullies out here (you) don’t know what you are talking about. I love it. You just yap yap on topics you clearly know nothing about and criticize, ridicule and spread toxicity. I’m sure your parents would love to know more about the type of human being they raised. I guess you’re getting something out of spreading your ignorance but I can’t imagine what it is,
That is the number where they consider you to be “retirement eligible.” I can’t remember all the ways they use it, but for example if your # was 80 or more - they automatically took money out of our paychecks on that 50 shares of stock they granted us for two years. I guess they were concerned we would take off with all that money before it vested lol. It might also be the number which allows you to “retire” from WFC vs “quit” maybe qualifying you for WFC retirement medical insurance (which is very expensive, BTW). I don’t get the impression that it’s a GET OUT #, based on what I’ve witnessed so far, but I guess we’ll see.
@OP made the dumbest troll post on this board yet.
None. The only 'points' system that WF has ever had were associated with the "Cash Balance Plan" (pension) which was frozen in 2008 or 2009, IIRC. I have plenty of seasoned reports and have never ever heard even a suggestion from leadership or HR that they the 'go' due to their age, or any other reason that's not a legit performance related term.
Hope that's not true!
If it is, then I'll be stuck here for another 5 years...
Wouldn’t surprise me. It’s discrimination but companies get away with that easily now because no one enforces the law.