Displacement package says we can contact them after the 60 day notice period and have term code changed to retirement. Has anyone here done that and does it affect the severance payout and insurance benefits and rates during the severance period? Not wanting to sc--w this up.
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@a2 or anything regarding Ada location strategy... I applied and got a 'temporary' wfh...for a life long and chronic issue that affects a major function. It's a permanent issue. Anyways, after thr approved it, you get some documentation saying that location strategy supersedes Ada. And to use it, you have to keep getting notes, and even then you'd have to live within 50 miles of the new location. That's misleading.....and they don't tell you that anywhere else on teamworks on the front end before initiating a request. It's only disclosed in this detail afterwards.
I accepted a severance package because I was told I'd have to rto regardless if even if my health issue improved which it cant.
It's messed up and I can't believe a company could do that to someone. Its a protected class ada...they don't have any jurisdiction in whether a note can be continually accepted or not. I don't know who signed off on that but it appears to me a clear violation. Anybody else I this same boat??!
I recently switched to Retired from Displaced. It does not affect severance or benefits. It allows you to get the same employee perks related to checking and savings accounts. You will be able to choose a retirement gift from the WF Recognition site. Nothing elaborate, and I think the most expensive item is about $130 out of maybe 20 gift options. I wasn’t expecting anything so I’ll take it.
@kz I “retired” with age+ years of service when I got RIFd from BofA. The only thing I got was employee banking benefits. Probably the same at WF.
What are the retirement perks? A free checking account?
@b6 What perks? I read the handbook and there are none anymore.
Retirement really has no benefits here. I wouldn't even waste my breath talking to HR. It's not like I'd ever bank here once I leave. What other benefits are there?
My severance period, had I not taken the lump sum, would have ended on 10/30/26. If that date would have been 1 week later, 11/7/26, I would have hit my 10-year mark and being over 55 I could have retired from WF. Great timing on their part.
I had change my status to retired a month before the end of my severance package. There are some small perks of "retired" status.
@a4 I’m probably not following what you wrote. I’m able to get 18mos COBRA without being flagged as retired.
I did this earlier this year. No issues. It just gets you a few small perks.
I did this last year, there were no issue with the severnace payments or insurance. You have a 9 month window after active emplyment to sign up for medicare (assuming you're 65+) without penalty.
Yeah makes sense in a way but I would want your retirement date to coincide with the end of your severance period of course. When you retire you can apply for COBRA for an 18 month period; you get the same medical coverage you had as an employee but you have to pay the full premium (your share plus the company’s share). Would be worth a few hundred bucks to have an attorney chase that code switching thing down for you.
I would not trust anything said or in writing from wellsfargo. In addition if I was laid off by wellsfargo the last thing I would do is notify them of anything other then a lawsuit