Reading thru the displacement paperwork, it seems that we cannot submit the form to request a lump sum severance payout until you are no longer a WF employee (the day after your 60-day non working period ends). Is that true? Anyone know how long after submitting for lump sum severance payment you actually get this money? The displacement paperwork alludes that it can take another two months on top of already waiting the initial 60-days (non working period).
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praying i get my golden ticket next week and my lump sum in a couple months, I want to sever ties ASAP! wfb is trash!!
Was the lump sum discounted, or was it the full amount of your salary multiplied by the number of weeks you qualified for?
also, when you request a lump sum the timing of when you loose benefits and when you get paid could be different. Once you file mump sum your benefits run through the last day of the month your request was submitted which may be different then when you get paid. now if you want to keep getting bi weekly payments but don't need benefits because of a spouse you can always call in and cancel your benefits given being laid off is considered a life changing event.
@b3 edited
I filed for a lumpsum payout the day after my 60-day non-working period ended, 6/27/26. My final paycheck plus unused PTO was paid out on 6/26/26 (not part of the question) and received the lumpsum on 7/17/26. Your mileage may vary.
I filed for a lumpsum payout the day after my 60-day non-working period ended, 6/27/26. My final paycheck plus unused PTO was paid out on 6/26/26 (not part of the question) and received it on 7/17/26. Your mileage may vary.
Reading is fundamental
@ae I guess you already spent it?
@a4 Because “it could take up to two months” and “it actually takes two months” are two different things. I was asking about people’s actual experiences, not asking someone to read the paperwork back to me.
If you get another job during the notice period you DON'T get your severance. I would never advise anyone to take the lump sum unless you're dying. With the regular severance you get your med benefits, with lump sum you don't, and if you mess up the timing you might lose it all. Don't give them an excuse to not pay what you've earned.
when I submitted mine it took a couple weeks, it is all dependent on where they are in the pay cycle when you submit it.
If the severance paperwork "alludes" it can take that long why are you even asking this question? The answer is you might have to wait up to two months.