Thread regarding AT&T layoffs

Question re Bonus Check after separation

Planning to leave (not retire) around the first of the year (maybe Dec, maybe Jan).

Is it safe to assume the bonus check, due in the first paycheck of March, will be paid even if I have already separated?

Additionally and assuming yes to the above:

  1. Will this be paid by check to my address, or in Direct Deposit (DD is currently the case).
  2. Important to me and my main question: Will this check have the usual 401(K) contribution (mine and employer's; I am more concerned about my contribution) deducted from it? Or do they treat an already separated employee more like a contractor, and no employer benefits apply to that check? (There will be a gap of at least one month, perhaps more, between separation and this check).

Thanks!

by
| 1657 views | | 15 replies (last October 13, 2021) | Reply
Post ID: @OP+1dgZ7IMN

15 replies (most recent on top)

Also received a W-2 the following year from ATT for that bonus (Jan 2021), just before the deadline of course. Still through the online portal, via the Former Employee site. So wait to file taxes until you know you have any W-2's from ATT.

by
| | Reply
Post ID: @2nzm+1dgZ7IMN

My team was sold to IBM, we were involuntarily "retired" from AT&T as of 9/1/2019. And we all received our pro-rated ATT bonus the following March, auto-deposited into bank accounts as usual. I beleive ATT sent an email to confirm whether you need to update bank info, etc (be sure to update HR with personal email and phone numbers during the out-processing steps).
I know this isn't the same as leaving on your own, we had an agreement since it was involuntary, but the bonus process worked out fine for us.

by
| | Reply
Post ID: @2jdj+1dgZ7IMN

I gave 2 months notice so my colleagues wouldn’t be screwed. I was not walked out. Depends on what kind of work you do, your boss, and if you are going to a competitor. I just retired from the workforce (didn’t hit the 75 mark)

by
| | Reply
Post ID: @1pga+1dgZ7IMN

are you kidding ? assuming you are a 3rd level or above there shouldnt be a single bonus being paid to anyone at 25.5 a share

As a 2nd level top performer I got 1,000 raise and not close to the top of the band

years of bonuses should be clawed backed especially from our retired execs like randy, ralph and all the others

What we need to do is fire the entire top deck !!!

Starting with stankey, chow and mcelfresh!!!44

by
| | Reply
Post ID: @1wbo+1dgZ7IMN

Wow! I didn’t realize those retiring over the next couple months wouldn’t get their bonuses next spring. Not that bonuses are that great anynore. But still.

by
| | Reply
Post ID: @1wwe+1dgZ7IMN

I looked into this last year and according to HR, you need to be on payroll as of Dec 31st to be eligible. If I were you and this isn’t a retirement thing, I’d wait until 2nd week in Jan.

by
| | Reply
Post ID: @1wni+1dgZ7IMN

If manager you will get the pro-rated portion determined by when you left. This is why most leave early Dec for the 12/12 months determination and benefits paid till Jan 1st.

by
| | Reply
Post ID: @1lqy+1dgZ7IMN

Look at the att management compensation plan - page 10. "Employees who have left the company and have met the modified rule of 75.."

by
| | Reply
Post ID: @1jum+1dgZ7IMN

You need to check plan specific rules as indicated, but addressing the other part of your question, you cannot deduct 401k or get 401k match if it is paid after you cease being an employee. Even if you receive your bonus.

by
| | Reply
Post ID: @1iet+1dgZ7IMN

I agree with the poster who suggested to check the SPD and / or HR and / or Fidelity. I've heard of managers who left the company but did get a full or partial bonus in March of the next year. This may depend on your payroll company at the time of separation and if management or not.

by
| | Reply
Post ID: @1pzq+1dgZ7IMN

You will not get any bonus if you leave before the end of the year. Also depending on your org be prepared to be walked out if you try to give a 2 weeks notice. Close friend turned a two week notice in expecting to be allowed to finish out those 2 weeks. This person was immediately given instructions on how to return laptop, ID cards, cc, and cou and was off payroll the very next day and not even allowed to finish work that day. Can you imagine the fit T would have had, had this person just quit without notice.

by
| | Reply
Post ID: @1dyt+1dgZ7IMN

check your specific SPD about compensation

by
| | Reply
Post ID: @mgb+1dgZ7IMN

If you quit without an agreement there is no bonus payout.

by
| | Reply
Post ID: @wdj+1dgZ7IMN

if you leave on your own I don't believe the company pays out a bonus award

by
| | Reply
Post ID: @lof+1dgZ7IMN

I wouldn't assume that, unless you have something in writing stating it. I'd be shocked if you get it. Every place I've known, any commissions or bonuses required you to be working there on the payout date.

by
| | Reply
Post ID: @uch+1dgZ7IMN

Post a reply

: