Thread regarding Wells Fargo & Co. layoffs

Are we eligible to still contribute to 401k during 60 day period after displacement?


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Post ID: @OP+1k5291x12

6 replies (most recent on top)

FYI- they won’t match it until the end of the year

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Post ID: @10r+1k5291x12

And, as I found out earlier in the year, if you are laid off on that Tuesday following payday it lines up your pto payout will be the same as your last (non severance) payday and that means your pto will have 401k withholding. Just plan on it if you are thinking of adjusting the percent.

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Post ID: @sn+1k5291x12

60 day yes
On severance, no

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Post ID: @f4+1k5291x12

@ac

That is probably the d-mbest thing I’ve seen posted on here, which is saying alot.

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Post ID: @e1+1k5291x12

Yes, that's the non-working period. You are still an active employee. Then you go on "salary continuation leave" aka severance. During the leave/severance period, you cannot contribute to the company 401k

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Post ID: @a8+1k5291x12

Yes, you're still an employee.

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Post ID: @a7+1k5291x12

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