#benefits

Curious what severance is…Any thoughts?

Stankey is a sociopath. I took an offer in July after 45 years. The company treated me fairly and their benefits and support are above average imo. The problem is that this company has no idea of what’s going on. I believe that they’ll be acquired and parted out. When the CWA contracts are up… that’ll be the end of the line for techs. Wish you all well.

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Weight-loss medication coverage is changing
We want to let you know about a change to your prescription dr-g benefits. Effective October 1, 2026, medications prescribed for weight loss will no longer be covered under the Pepsico Employee Health Care Program or the PepsiCo Retiree Health Care Program (together, the"PepsiCo Plans").
Why we're making this change
Prescription weight-loss medications have become one of the fastest-growing costs in the PepsiCo Plans. Removing coverage for prescription weight-loss dr-gs enables us to maintain a healthcare program that is sustainable and affordable for all PepsiCo employees, while continuing to provide a comprehensive, high-value benefits package. At the same time, many commonly used weight-loss medications now have cash-pay affordability pathways that were not available previously to individual patients.

After my departure from GTS last month I went through the process of moving all of my lines (as well as the lines of a handful of friends whom I talked into coming to VZ when I joined) to T-Mo. 16 lines in total. And I have to say, it was a delightful experience.
Only two nags to instead look for "deals", then you get the pin and account # that you need to give T-Mo. They have fantastic deals for people bringing their phone and number from Verizon. In my case the total cost at T-Mo is less than my VZ cost including employee discount (and therefore less than half compared to what I would have paid starting next month since you get one pay cycle of EDP and then it's full price). And I'll get $2k worth of pre-paid master cards...
With 15k people either RIFed or leaving on their own, and an average of maybe 4 lines per employee, that's a cool 60k lines lost. Well done, Dan. And thank you for making it a delightful experience!

As we focus on retaining top talent, is the bank considering reinstating the discretionary 1% 401(k) match that teammates have received in the past?

I’ve been hearing rumors that they will be getting rid of unlimited PTO and going back to the traditional PTO system we had in the past. Is there any truth to this?

Do those put on PIPs receive severance benefits similar to a layoff situation?

Is there anyone who has been able to successfully use the new home buyer benefit? It seems like you upload a deed or a final closing document and then you’re reimbursed for an amount of $6500?

Does anyone have any personal experience with this yet? Any feedback is appreciated.

All retail is becoming part-time, open availability, and no benefits. Even fast food pays better now.

Has anyone used the daycare on site? Is it good?

Story by Celia Bernhardt, Sarah Nassauer

The tax benefits of putting money into a 401(k) are well known. But not all 401(k) plans are created equal.

Take Costco, for instance. Many thousands of the retailer’s front-line, hourly workers have managed to amass over $1 million in their 401(k) accounts, thanks in part to a contribution that Costco makes whether or not the employees themselves are putting money in.

For employees with at least a year of service, Costco contributes an amount equivalent to 4% of their pay. That rises as employees accrue tenure, so workers who have been with Costco for 25 years or more receive a 9% contribution. The company also has a small match that allows employees to receive up to an additional $500 annually if they contribute $1,000.

For Costco, it’s one of the ways, alongside inexpensive healthcare and higher-than-normal hourly wages, that it retains experienced employees. The company places a premium on keeping turnover low, a strategy its founders believed would reduce costs associated with training new hires and lead to better customer service.

Some companies go far and beyond, offering jealousy-inducing match rates to win over prime talent. Employers in specialized fields who want to stay neck-in-neck with their rivals often conduct benchmark surveys to assess what kind of benefits are most attractive to their staff and what is offered by other companies.

Here’s a look at other better-than-usual retirement benefits offered by employers across industries.

A high match rate
The average company 401(k) match is about 4.7% of eligible salary, according to a Vanguard analysis of plans it manages. Only 6% of those plans offered a promised matching contribution totaling 7% or above in 2025.

A select few employers hungry for talent go well beyond that.

Southwest Airlines, for example, offered a dollar-for-dollar match of up to 9.3% of employees’ salaries in 2024. Boeing boasts an even higher one of 10%.

Competing credit-card giants Visa and Mastercard offer better than a dollar-for-dollar match. Visa will put in $2 for every $1 that an employee deposits in their 401(k), up to the first 5% of their pay; Mastercard puts in $1.67 for every $1 on the first 6%. Both of those add up to a 10% total employer contribution, but employees don’t need to put away as much in order to get it.

Although the most important number is that 10% total match, the warp speed matching rates are attractive, said Chris West, a managing director at human-resources consulting firm WTW.

“It’s distinctive,” West said. “It probably creates really strong incentives for employees to contribute. It’s also really easy to communicate.”

Nonelective contributions
With a limited matching program, the strength of Costco’s 401(k) lies in its nonelective—or nonmatching—contributions.

Nonmatching contributions are often structured as profit-sharing plans or, less commonly, as an employee stock ownership plan. Of the plans included in Vanguard’s report, 37% used both matching and nonmatching contributions; 11% used solely the latter.

Tobacco company Altria Group matches employees up to 3%—but add that to its profit-sharing plan and workers get a whopping 13% to 17% employer contribution in total. The Aerospace Corp., a nonprofit government contractor, also uses a 3% match but provides a total of 12% for the longest-tenured employees through added nonelective contributions.

The practice is more common in some fields than others. Legal-services firms are disproportionately likely to opt for nonmatching contributions alone, according to Vanguard data.

Unionized workers at Ford and General Motors receive a 10% nonelective contribution as their retirement plan. The employer contributions were bumped up from 6.4% as part of contract negotiations in 2023. Both automakers transitioned away from offering pensions to new hires about two decades ago.

An employee stock ownership plan, a specialized retirement plan to which a company contributes shares of its stock, is often offered in combination with a 401(k). ESOPs are most common in sectors including manufacturing, construction and engineering. The structure is thought to give workers a sense of investment in a company’s success and, in some circumstances, provides the business a tax break.

Publix, a Florida-based grocer, automatically provides employees with shares of the company’s stock after they have clocked in 1,000 hours within a year and offers an option for them to purchase more.

Stewart’s Shops, a regional gas and ice-cream chain in Vermont and upstate New York, operates an ESOP-only program in lieu of a 401(k). The company says its employees have seen retirement contributions of 17% on average in the past five years.

Publix and Stewart’s both say that some of their cashiers have become millionaires through stock ownership. Stewart’s puts the number at over 200.

Student-loan benefits
Boeing’s benefits don’t stop with a good match—it is among a growing group of employers that allow workers to receive matching contributions for some of their student-loan payments. A Boeing worker who puts 10% of their salary toward paying off a qualified loan will get a matching amount from the company in their 401(k).

It’s a relatively new program launched after the passage of the federal Secure 2.0 Act in 2022. That bill expanded the features employers can include in their retirement plans. Among the many other companies that have hopped on the bandwagon are Verizon, Chipotle, Comcast, Walgreens and News Corp, publisher of The Wall Street Journal.

Write to Celia Bernhardt at celia.bernhardt@wsj.com and Sarah Nassauer at Sarah.Nassauer@wsj.com

When will they contact those that are leaving to go over severance package , those that went thru this ,can you comment on process , can we keep life insurance if we pay premium,

Retired laid off former employee here. Yesterday I received an email announcing changes to the 401k plan. In short, the plan is going to be more expensive for participants starting next month. Was there any internal communication about why the changes are happening?

Looking for others perspective.

I’ve been with my centene ~8 years. Enjoy my team and PL but I’ve also become burned out/stagnant, tired of feeling undervalued compensation wise, and anxious about the layoffs. Luckily my team is safe after I mass applied to other places.

I have an offer for a state role paying ~$5k less. It’s hybrid, but comes with a pension and potentially better long-term benefits/career stability.

The catch: I’m starting about 4 months before my first baby arrives and wont be eligible for the company paternity leave.

Would you stay for the short-term flexibility/paternity leave, or take the new job and accept a potentially rough first few months for better long-term benefits?

I know severance package details contain contact information but foreseeing being part of future WFR so curious what the cost is for PPO Cobra for employee/children or just employee? If you know please share.

I recall seeing a post on this forum a while back where there was a government website that listed all the positions that ExxonMobil has had to pay the $100K visa fee for that were posted and the salaries for those positions. Does anyone have that link? One of the positions I recall was in EMTECH which had a salary of $500K without the visa fee. How is it that the company thinks it is saving money on these positions by filling them with TC expats? Is it because they don't have to pay their benefits or US 401K and pensions? Could someone shed some light on how that all works?

For decades, Edward Jones’ home office compensation and benefits have been well below average. 20% below-market salaries and bonuses; terrible health benefits; stingy PTO; a pathetic $500 401(k) match. Although there’s a heavily-trod path of young people passing through for a couple years just to get licensed before departing to greener pastures, the firm’s always managed to keep enough people aboard with stability, work/life balance, and other pleasantries. Now that the niceties have been dispensed with, and there’s creepy, grubby tinkering with partnership stakes, what’s left to attract and retain talent? Food days, balloons, accolades scrawled on construction paper with gold star stickers, and the other dog and pony show fluff don’t cut it. FAs and their clients, not to mention the rest of the world at large, are trading in money, not fairy dust. Management shouldn’t be surprised when existing and prospective home office talent turns out to be the same way.

Benefits end this month. Will Verizon say anything?

I know many positions were lost but this question has been lingering in my head. Could the company have looked at how much family’s insurance costs them and decided some of us are too expensive? A lot of the one's that stayed don't have children or have insurance through their spouses (from the one's I personally know). Centene's focus with Cognizant/MAGI (AI), Salesfoce, temps, and sending jobs overseas adds more to my suspicion that employee benefits were taken into consideration.

We used to get a gift card or something for completing the get active challenge are we not getting anything this year

Why aren't we earning monthly Verizon Dollars? There's nothing in the FAQ or terms that exclude employees, and my app says I'm earning them, yet I'm not. Surely that measly $10 wasn't all we're eligible for?!

I'd like it even more if there were fewer cuts, but I can't lie that it's not a good job. I think there are many of us who feel the same way, and only mind the frequency of cuts, but otherwise enjoy our jobs (decent pay, decent benefits, great folks to work with, what's not to like?)

That's how it happens. Typically put into your calendar on a Sunday or Monday evening. And yes the rumor is real. This round is ~12k, notifications will be complete by the end of this month in the US, other geos take longer due to local laws. Severance is 4 weeks for the 1st year, plus 1 week for each additional year, capped at 26 weeks. Plus 30 days of paid Cobra benefits.

What's the point of giving anything beyond the minimum?

Well after being laid off for a year, I got a call from an Infosys recruiter asking if I was interest in my old job as a contractor .. I laughed and said, not interested .. I suspect that other groups like the Torretta Org will do the same thing and continue layoffs to shed cost and pick up no benefit contractors to backfill .

Centene corp pulled a bait and swith with those that applied and VSP accepted. Majority of separation dates are set for next year 2027. When applying separation date was set on or around September 1st. Now that we applied we cannot cancel and face possible lay off, leave on our own or worse fired without the enhanced benefits. Centene trying to save as much cash as possible. Any one else who applied feel the bait and switch??

Will be receiving documentation regarding severance info, job assistance, end of benefits information in the mail in about 2 days.
Normal procedure, nothing new here.

when you or someone you knew, earned the att life insurance benefit and someone claims it when you are finally laid off (dead) there is a posting in the obituaries that used to occur every month. either they have exhausted the life insurance fund or they have laid off the person who posted the monthly updates. nobody has died since last may according to the site. wtf.

How does Schwab handle an employee who wishes to take their sabbatical, then retire? Does the employee have to return to work after the sabbatical for a certain period of time? Or can the employee simply retire after getting paid for the sabbatical? Thanks!

What is happening with the Albuquerque site? My friend tell me they do not get profit sharing there and some other benefits. He also say they have to share the building with a government agency. This sounds very strange to me. Is this really true? Why is this like this?

Via Benefits is leaving messages that Wells Fargo authorized them to call me about Medicare. I did search and found them to be some sort of insurance advisory company. Before I call them back, does anyone have any experience with Via Benefits? Seems fishy, lots of companies want to “help” us Senior folks with Medicare.

Maybe they have a free knee brace offer that has a stage coach logo?!

President Trump is ending Medicare D subsidies at the end of the year. What happens then? It’ll push the largest Medicare D population to Medicare Advantage - the national product.

seems like we have to wait to get a COBRA packet in the mail from Centene before electing.. so I'm like is there a gap in care??? and wondering if we still qualify for marketplace if we do cobra for the 3 months.

FIS is planning to offer Golden Handshake to employees over age 50.
The terms are 2 x Number of Years in Service + prorated 401K

The offer has been given to several employees in my team.

Canada has introduced a new online portal for workers who have lost their jobs through no fault of their own. This Employment Insurance program offers financial support to individuals facing unemployment due to circumstances like mass layoffs. Eligible applicants can receive a maximum weekly benefit of $729. Applications must be submitted within four weeks of the last working day. Required documents include Social Insurance Number, banking details, and employment history.

Ottawa, Ontario

https://www.legit.ng/people/1722818-canada-announces-weekly-payment-people-lose-jobs-posts-amount/

Every single one was a step backwards, be it lower base, worse benefits, or less stability. I'm not exaggerating when I say my current situation looks better on paper, even with all the toxicity, layoffs, and everything else we have to deal with on a daily basis. People keep talking about better jobs out there, but I can't find them.

On July 31st, eight more high seniority CWA Leg T workers in Minnesota were offered VTP which includes 104 weeks pay for most of these union workers. This amounts to about $140k to almost $200k so it's an awesome opportunity to retire with a very sweet incentive in addition to their nice pension, 401k and medical, dental and vision benefits along with eventual social security. What a sweet ending to a challenging career with T with many years ahead for enjoying well earned retirement. And management has hinted more VTP offers are to come. Great news for workers ready to leave and move on.

What is included in severance, if anything?

I love this job! Great pay and benefits, low stress and friendly co-workers. It is truly a dream come true!

Has anyon else who retired from Mobility Management get a letter sating that Life Insurance was canceled and not eliegible for even the $15K of insurance? Just more of AT&T cutting promised benefits then daring you to challenge them when they/Fidelity Benefits center have all documents which they never share