Does anyone know if we would still get the EIP bonus if we quit before we get the bonus? I know some companies do because you worked during that time but wasnt sure if State Farm does?
14 replies (most recent on top)
@2hya+1l8jO0ky actually posted accurate info, and was downvoted. Wonder why?
There are only a few, very specific, situations where you can leave and keep your EIP bonus (leaving before its paid). Most of those scenarios involve you still working for State Farm in some capacity.
If you quit for another company the day before the payout is initiated, you wont get it basically. Dont bank on keeping it if you leave before its in your bank account.
The board must approve the bonus. That occurs 2nd week in March. Until they approve, there is no bonus.
I can confirm in Claims, you don't get it if you leave before it's distributed. I was there the whole year of the bonus, quit the next year before March payout and got nothing. Kinda shady!
If you are 55 and resign due to early retirement, you will get bonus. Otherwise you will not.
There’s your problem snowflake , the “I’m Entitled “ attitude. I hope the stick that participation trophy 2 feet up your a…..
For the people stating misinformation, while providing no details:
If you are fired or quit, you dont get the bonus, even if it occurs the day before the payout.
Certain situations where you are transitioning to other areas of business, ect, then you get the payout.
Certain unique employment situations you may still receive the payout.
So to be clear:
You will not NOT receive the year end bonus unless you stay until its paid if you are terminated from employment, or quit.
There is a reason they wait 4 months after the year to payout, its to get rid of as many payment obligations as possible. Also, look for more interest in terminating employees from jan-march than usual. Sure its totally not related.
Again, if you leave the company or are terminated before the payout day = $0 payout.
I had a colleague give her 2 weeks the Friday before the bonus hits your paycheck. She was going to a competitor and did not receive her bonus. She thought she was ok to give her notice since she’d already worked for the hours the paycheck would be for.
Take your bonus and.....State Farm name on a stadium with a half time show like that? Didn't watch the game but got 5 minutes into the half time show and we were done! SF endorses or is affiliated with that and takes the customers money for a bonus? Progressive makes more sense. Sad!
This thread is the perfect example of why any advice on this site is worthless. Multiple people giving the wrong answer that you have to stay. As someone pointed out just look up the actual and correct answer.
Actually ja----s I have worked for State-farm for 16 almost 17 years so I am entitled to that bonus but could possibly have another job with that pays more, hence my question ya friggen jerk!
None of these comments are true. If you type in EIP on SFnet it tells you who can get the bonus…yes you can quit before the pay date and still potentially get it.
You have to work the until you have it.
Must be present to win. Ride it out til 3/31, don't leave that money on the table.
if you quit you won't get it