I am in my early 60s, it's still too early to retire. Yet, I cannot be running any more and I am thinking about quiting, I guess I can call it a major burn out.
Anyhow, I wanted to see if there is a way to quit and still get unemployment benefts here in California.
CA is 100% stupid. There is a check box on the EDD application where you can define that you QUIT your job voluntarily to follow your spouse to their new job location.
That’s it. That’s all the trickery you need. Just a check box lie and a collecting you shall go. I know of this first hand watching people fill out the app and then collect benefits for months and months. Yes I reported the dimwits to EDD for fraud but dollars to donuts the EDD never acted.
With all the layoffs they won't fight too hard. Start documenting things if you can.
Its been almost a year since I got my package, at 50. Due to raising kids, parents with health issues and the stress of working at WF for 25 years (giving more to my job than family), I am thankful I was given the package. Mental stress is real. I know three people my age AND two kids in their 20's whom have committed su----e since COVID started. Don't get to that point. There is a wonderful life out there for you but you have to make a big change. Its hard but if you have worked at WF for any length of time YOU KNOW WHAT HARD WORK IS!
Good luck to you!
OP, take mental health short term disability. It might really help you reset so you can face the next few years. H*ll, take one every year. Plenty of people do.
There’s nothing entitled about the post or thread. It’s an honest question that comes about at a certain age. People are tired. Physically and mentally drained and exhausted. We don’t know the OP’s back story, but let’s give them the benefit of the doubt. Maybe it was just worded wrong, maybe they were looking for strategies they never thought of or had a question that they were too embarrassed to ask, so they came here looking for some teammates advice.
I can tell you from experience I’ve watched the failure of what was supposed to be safeguarded for the future.
There’s no more Gold Watches passed out after 30-40 years of service. There are rarely if not any more pensions that include guaranteed income and medical benefits until death. Unless you plan to be a police officer, fire fighter or teacher in certain cities that have pension plans. Take a look at the First Responders of 9/11, fighting for medical coverage 20 years after the fact. Even the Military has done away with retirement pensions for this new generation and expect them to contribute to their own version of a 401k or 403b. Google it if you don’t believe me.
What people have left are their 401ks, IRAs and barely some savings, if they even had the ability to contribute to any of these. Take a look at your Social Security Statement and Estimated Benefits. You can find your statement on the SSA.gov website. Could you survive on that alone? What if those SSA Benefits are reduced by 25-30%?
A lot of people are in debt and living paycheck to paycheck from basic living necessities and life events. I’ve seen divorce financially ruin people, set them back decades and keep them there, both men and women. I’ve also seen the disability or death of a spouse/partner also cause financial ruin to a family because it was an unexpected event and loss of the main breadwinner’s salary.
Now just for fun, let’s throw a wrench into the mix and add children, infant care, preschool, braces, after school care, summer care, medical coverage, college, a sick elderly parent/family member, etc etc etc.
Not everyone’s home is paid off, if you can afford to buy a home. Not everyone has a car that is paid for. People can barely cover their cost of living as it is. Many people I know in their mid to late 50s are struggling financially and are not prepared for any type of life changing event. Many are already taking care of aging or widowed parents under their household.
There has been multiple setbacks to many careers because of stock market crashes, inflation, recessions, wars and the job market between the late 90s to present. Take all of that into account and now we know why our tail end Boomers (1946-1964)and Senior Gen Xers (1965-1980) are struggling financially. They are exhausted. It’s been an uphill battle for them since they were in their prime working years since the mid to late 1990s until present day.
Are Millennials entitled? Entitled to what? Our debt? The fact that Social Security could possibly collapse and the SSA Trust Fund be depleted by 2025-2030 is not a great outlook for them. Many of these Millennials came out of college during or around the Financial Collapse of 07-08 and have been thrown into a recession ever since. There were no decent jobs for them. They are still playing catch-up now in their mid-thirties. It’s been a vicious cycle for them.
We see protests in the streets for a living wage, why? Average rent is $2,000 a month in most cities, and if you are only supposed to spend 25% of your income/take home pay on housing/rent, then that means the minimum pay should be $8,000 a month after taxes, or $96,000 a year. Are our seniors ready and able to make that rent payment? Are those seniors pulling in $100k a year in retirement. No, they are not. Most are rubbing two nickels together wondering how in God’s holy name are they going to cover their yearly property taxes, medicine, food and basic living necessities.
Help me understand how this is being entitled? If all the commenters are going to throw out ideas, whether it’s gaming the system or looking for strategies, it could help someone. Anyone, of any situation of any age.
We are all entitled to getting back what we put in. Bottom line.
This is the worst post/thread I’ve ever seen on this board. And from someone in their 60s cmon now... represent the baby boomers better and stop acting like an entitled millennial.
Careful though in that if you don't return when your leave is technically up, you'll be fired for job abandonment with no severance or unemployment.
You'll just need to suck it up. Work sucks otherwise they wouldn't call it work.
Take an unpaid personal leave if your manager will approve it and you can afford it. It may help to reset your mental health. You could also use the time to job search.
Wells is not required to hold your position for you on a personal leave. If your position is no longer available when you return, then I think you have a better shot at unemployment.
Good luck!
It’s very hard. Wells Fargo will fight it tooth and nail. If you can find a way to get disability as described below, go for it. Otherwise, remember, unemployment is only $450/week for 26 weeks under normal circumstances. The federal extensions and additions are over.
Not enough to tide you over to retirement, not even close. Better to hold on and hope for a layoff.
GFYS!!!!
Great advice @lxm - this is why I like this forum, every once in a while there is a post that teaches me something.
Not necessarily Unemployment Benefits, but since you are close retirement age you might be able to speed up the process for a Severance Package.
Short Term Disability and/or Long Term Disability. If you have been putting off any medical procedures I suggest you get them done this year and next year. Bad knees? Frozen shoulder? Hip replacement? Etc, etc.
Based on your Years of Service , you will get 100% Base Salary of STD Benefits for 26 weeks per year. At week 27 you get 65% of your Base Salary if you opted for LTD Coverage during benefits enrollment. If you did not opt for the additional LTD, it will be 50% of your base salary.
Once you are LTD approved, you will be paid this amount until your Social Security Retirement Eligibility age. For some it’s 65, other 67 and so on.
Remember that you no longer have job protection of FMLA after 12 weeks. So you are speeding up the process of getting a Severance Package, since your position can’t be filled during those 12 weeks or backfilled until you are gone.
I noticed after 19 years that the “seniors” who did this eventually got the pink slip. As of it set off alarms in HR to flag them. It hastened their Severance Packages in addition to having financial and medical benefits.
Is it gaming the system? Absolutely. Learn to play the game to your benefit. You paid for it.
Crack open the Benefits Book and read it Chapter by Chapter, Line for Line. Use the knowledge to your advantage.
Chat with your M.D. A leave?
I'm also in my 60's & have major burnout! This company will drain the life out of you. I'm trying my best to hang on for a little while longer but it gets more & more difficult everyday. I wish they would give us old timers a severance & let the young ones handle it from here on out. Sooooo very tired....
Don’t cheat.
You'd have to fight for it, WF will challenge your claim. You can get it but you have to prove that you had to quit due to things that are prohibited by law (e.g., unsafe work conditions, bullying, discrimination, etc.)