Anyone else receive this notice today? I hope more class action settlements will follow for employee mistreatment and unlawful practices.
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I took a 401k loan in 2021, and loan payments were payroll deducted. When our 401k plans shifted from Alight to Fidelity, Alight sent records to Fidelity that my 401k balance was the amount of the loan I took out. None of my payroll deductions were accounted for from 2021-2024. Fidelity is threatening default on my loan, and I have actually overpaid my loan. An even bigger concern of mine is, how much have I lost due to none of that money earning any money??? It's been over 6 months since I brought this to Fidelity's attention, and I still have no resolution. Has this happened to anyone else?
It's a crying shame that they sold us out in order to win Fidelity's card business. You have to leave this place in order to invest your retirement money into the financial instruments you want. The defined contribution plan and the selection of plans Fidelity offers in NetBenefits are both pathetic.
So they allege that we were cheated out of $10-20M and the settlement is for $250k? Wow that is some deal. I might opt out just out of spite.
Also this is totally unrelated, but if your last day was 04/17, then you would get one full paycheck for 04/05 to 04/18 on 04/24 and nothing after that.
@h6 it wasn't monthly it was 15th and last day of the month then we went to biweekly. 2015 I believe it was. Biweekly did decrease paycheck size after taxes and other deductions.
@h6 the bank previously paid people one week in advance but it has always been two weeks at a time. When they went from one week in advance to one week behind it was a two week difference.
Hello - wondering if anyone remembers Usbank switching from monthly paycheck to the two week one. The January they started it everyone missed 1/2 months pay check to get payroll lined up. If I am remembering right we are therefore one paycheck behind. My last day of work was 4/17. I thought I should get two regular checks after but only received one anyone else experience this? Does this seem right ?
Got a similar email regarding suit against Wells.
@ah We're looking at about $3 per employee while the Bank gets another slap on the wrist in yet another class action. There will be no karmic justice, only another excuse for them to skimp on compensation.
@ak 'It's either real or fake.' Yep. Those are the two options.
I checked the source of the email and Google the phone number, seems to be a scam. So it's either real or somehow employee info got leaked /hacked and a scam company bought it.
@OP it is a start. Hopefully it would put their shady labour practices on the radar.
@ag It is peanuts but I feel it’s the beginning of the karmic justice that’s about to be unleashed for how they treat employees.
Yeah I got it. It was only a $250k settlement, so peanuts even if the class size is pretty small. Given we've averaged around 70k employees, I wouldn't count on that.