After spending an hour on the phone trying to get through to AskHR, I finally spoke to someone. She said that they are NOT taking out 401k contributions on the severance payout. So I'm not sure where folks are getting this intel that they are. That wouldn't have made sense, since you aren't allowed to make contributions to it anyhow. She also said that our direct deposit info only stays in their systems for 30 days, so if it goes past that, it will be a live check cut, so you need to be sure that they have your correct mailing address on file. They have limited visibility into the system for us, but they can tell if a payment has been made or not. We are at day 22, so we're quickly approaching the 30 day threshold. She said there is no rhyme or reason as to when people get paid. Could be 2 weeks, could be the full 60 days. The severance payment is also not necessarily tied to the company payroll dates, either. I'm hoping this payout comes sooner rather than later!
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Add me to the list of those who had 401k taken out of my severance. One of those HR folks that were quick to throw out a reply on this thread need to step up and provide a number to a corporate HR management contact that we can call about this. And don't refer us to AskHR as frankly they are a complete disaster and incompetent and have been horrible through all this. I may be interested in some compensation for this error as this seems like an error that may be a breach of contract for the severance package agreement signed by us and Allstate.
We were told the same thing that 401k would not be deducted from severance. I’m not sure why some on this board had it taken out. There must’ve been a mistake and you should argue it. All the people who were laid off with me did not have 401k deducted. I wanted 401k to be taken since with this job market being so bad who knows when I’ll be able to start working again and able to contribute to retirement. Corp america with the help of government shut downs really did a number on those of us who shaft.
I hope it comes after 12/31 for tax purposes
I too had 401k taken out of the severance. So this was an error? Can I appeal for this 10% 401k? I thought it stopped after the last check.
Well AskHR is full of doo too because my 5% 401K contribution was deducted from my severance. Others impacted in my area also had 401K taken out and others on these boards also reported that 401k was taken out of their severance.
Also our area got our severance 6 weeks after our last day, well beyond 30 days, and we all had it deposited into our bank account that our paychecks once were deposited.
I have no doubt that you were told this by HR. I have talked to 3 different HR persons through this horrible process and have gotten 3 different takes and explanations. They really don't have a clue and I don't necessarily hold them accountable. They are a product of this inconsistent, unprofessional environment of mess of a company. All I can say is myself, those I know, and many others on these boards can disprove the 401k deductions and the mailed check after 30 days.
Can I send you a nice holiday gift basket to get mine processed sooner? haha. jk. kinda.
I can confirm this is correct - I work in HR.