As we know, when you’ve been at Wells Fargo for 10 years, you get an additional 40 hours PTO… But they don’t give it to you at the start of the year but rather they spread it out over 12 months. If you’re let go or fired before the end of the year, how much of that 40 hours do you get … that is, would you get whatever is remaining or due to you from the separation date until the end of the year? In other words, do you that 40 hours PTO or only that much of it that has been given to you up to and ending on your separation date?
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It's not hard. Divide your annual PTO allowance by 12 and that's what you accrue/earn each month.
WF gives you access to your full year allotment on January 1, but if you leave before you've earned it, they will claw it back on your last check.
@aq You are an employee until the end of your notice period.
Notice period is 60 days in most states, 90 in some - if you are displaced. If you are fired/terminated there is no notice period - the day you are fired is the last day you are an employee.
Once you are on severance you are no longer an employee.
You stop accruing PTO at the end of your notice period
You must be an employee on Dec 15 to get the 401K match
Does severance period accrue PTO? If your severance period past Dec, does WF match 401K? Technically, you are still hired by WF during severance period, correct?
you get paid out whatever PTO you have accrued but not used as of your last day as an employee. you accrue 1/12 of your PTO allowance each month
You get credit as a 10 year employee on Jan 1 of the year you reach 10 years when it comes to PTO. Take your total year PTO and divide by 12, you earn that amount the first of the month. For example, I get 264 hours PTO each year. Divide by 12 = 22. As of April 1, I have 88 hours earned this year. If I quit tomorrow with no PTO used, they would owe me 88 hours. If I have used 40 hours year to date, they would have to pay me the unused 48 hours.
I hit 10 years in April, but got laid off in March and I still got the extra week. It’s supposed to be available at the start of the year, in January.