FYI – The are two final payslips (not severance) now listed in Schwab/Workday with a pay date of 1/5. I received two checks: 1) Regular pay for the period of 12/18 - 12/31 with the "standard" tax rate and deductions as set-up in Workday (Medical, HSA, Vision, 401K, etc., and 2) A second check with regular pay for the period of 1/01-1/05, and the Pay Out of 2024 floating holidays and Pay Out of accrued vacation hours. It seems this second check is withholding taxes at the higher "bonus" rate... maybe only the vacation payout? The second check also includes the deductions for Medical, HSA, Vision, etc. likely to cover the benefits coverage through 1/31.
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The severance paperwork says you will have access to Workday up to your final day which for us is January 5th. If you call HR, they will get you a copy of your pay stubs.
same here, my credentials no longer work in workday.
I noticed today I cannot access workday anymore. I was laid off in Oct and assume it’s because my official term was eff Jan 5. Just making sure this is consistent with other’s experience.
If it is paid on 1/19 is it paid in two separate checks? My state unemployment allows for a severance payment, but a check for the week of 1-5, vacation and floating holidays would result in no unemployment for that week.
It was based on where you live. Some states have laws around the timing of final payment and those employees were paid on 1/5. The remaining employees will be paid for the week of 1/1-1/5, vacation and float on 1/19.
I would like to know when the check for vacation and floating holidays is coming. If I apply for unemployment and it comes next week it will affected my unemployment for that week. I have 200 hours of vacation and 2 floating holidays. Will have to call them on Monday.
OP here... I re-checked everything and did receive the two checks as stated. I can think of possible reasons why others received only one check on 1/5: 1) Schwab payroll is processing 2100+ "out-of-cycle" payroll and severance checks. Out-of-cycle checks are significantly more work for any payroll department. Perhaps they divided this large group of let go employees into smaller groups for processing ease - paying off Vacation, 1/1 - 1/5 Regular, and Float holidays for some on 1/5, and others will be paid off on 1/19?, or 2) Perhaps this reported discrepancy is due to differences in job types or classes (such as exempt vs hourly, job grade/level, or ?) and some employees were paid off on 1/5 and others will be paid on 1/19?, or maybe 3) the processing was grouped in some other way (Corp vs Field, or by Dept., or by GL)? My own thoughts/opinions at this time - I am no longer a Schwab employee in 12 minutes... now 11 minutes!!!
I did not get two paychecks. Only one paid today (1/5) that is for pay period 12/17/2023 to 12/31/2023. Have not received the check for 1/1 to 1/5.
I was also able to access workday and only have final paycheck posted, not a separate paycheck for vacation and floating holidays. Workday shows 16 hours for floating and my unused vacation. Anyone know why this is? TIA
I only received the normal paycheck for December. Hmmm
hey, we also accrued some sick time :)
Yep it seems around 33%, maybe they annualized the PTO payout and they thought you'd be making that money every week? That would mean a higher tax bracket. Just speculating here. It's a mess, they also matched 5% based on the total which is good for us.
I am able to access workday still, and can see the last two pay stubs including the vacation and float payouts as mentioned.
Does anyone know when the ESPP deductible reimbursement will happen? I didn’t turn mine off after the layoff so continued to get that withheld but since we’re termed prior to the next purchase date, the paperwork says I’ll get it refunded of course. Just not sure details.
Anyone else having trouble with accessing Workday off of the Schwab network?
"Bump" to Active.