Fill - Free fillable 5 Step Guide Retiring From Wells Fargo PDF form

Your 5-step guide

to retiring from

WellsFargo

START HERE

Congratulations on your upcoming retirement!



member, we appreciate your commitment to the company and thank you for your dedication.

Your retirement is approaching, and it’s important that you’re prepared. Take the time now to

understand the decisions and actions on the immediate horizon, as well as those that you’ll encounter

along the way.

By preparing for a smooth transition into your next chapter in life, you’ll have a plan and resources to





Let’s get started!



NextPrevious

Table of contents

04 Introduction

Your retirement timeline

 steps you’ll need to take and when to take them

to make the most of your next chapter.

06 Step 1

Get ready to retire



and how to qualify. Then, choose the retirement date that works best for you.

16 Step 2

Set up your retirement income

Structure your retirement income to last as long as you need it to. Get



social security.

36 Step 3

Decide upon health care coverage in retirement

Evaluate all the health care coverage options available to you. These will vary

depending on Medicare eligibility and other requirements.

65 Step 4

Evaluate nancial protection benets





create yours.

72 Step 5

Enjoy your retirement





electronics. You’ve earned them!

77 Support available along the way

80 Disclaimers, notices, and disclosures



NextPrevious

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



Countdown to

your retirement





items and understand how to take action.

Six months before retirement

 Start planning.

 Choose a retirement date.

 

 

 Consider your 401(k) Plan withdrawal timing and options.

 

 Start learning about Medicare.

 If you participate in an incentive plan, talk to your manager about

your eligibility for awards under the plan you participate in.

One month before retirement

 Make your retiree health care elections.

 Make Cash Balance Plan elections and

return any required forms.

 

Program election.

GET READY

Three months before retirement

 Discuss your retirement date with your manager.

 

 Begin enrollment in Medicare (if eligible).

 

retiree health care enrollment kit or make an enrollment appointment



 



YOUR RETIREMENT DATE

Your last day of employment

Active team member coverage ends for the



 



 Business Travel Accident insurance (BTA)

 Tuition reimbursement

 Adoption reimbursement

 

 Backup care (adult and child)

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



The last day of the month in which your

last day of employment takes place

Active team member coverage ends for the following





• Medical

• Dental

• Vision

• 

Spending Accounts



• 



• Life insurance

• Accidental Death and

Dismemberment

(AD&D)

• Legal Services Plan

• 



• LifeCare® (resource and

referral program)

One to two months after retirement

 Elect COBRA continuation coverage, if needed.

 Take a distribution from the Stock Purchase Plan.

 

for reimbursement.

YOUR RETIREMENT DATE

Your retirement date

(the day after your last day of

employment)

 You can request a distribution from

the 401(k) Plan on or after this date.

Within one month after retirement

 Decide whether to continue life insurance, AD&D,

and Legal Services Plan co

verage in retirement.

 



month after your retirement).

ENJOY!

Enjoy your retirement.

Use the contact information in

the Support Available Along

the Way section of this guide

to make sure that your contact



designations are up to date

throughout your retirement.



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Step 1

Get ready to retire



plan to retire. Now that you’ve decided you’re ready to retire, it’s time to

consult the calendar and choose a retirement date. When choosing a date,

make sure that you allow yourself adequate time to prepare. Generally, there



retirement date.

What’s my retirement date?





is a weekend or a holiday.



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures







Retiree health care:







A limited number of team members are also eligible for a subsidy toward the





If you are eligible for Medicare but you are not eligible to receive a subsidy









See Step 3: Decide Upon Health Care Coverage in Retirement

for more details.



You may elect to continue your group Optional Term Life coverage in

retirement and you will not be required to complete a medical exam or





See Step 4: Evaluate Financial Protection Benets for more details.







• 

• 

• 

• 

– 





– 



Generally, if you terminated employment and were rehired within six

months of your termination, your prior service counts in calculating the

eligibility above.

Your completed years of service are measured from your corporate hire date

or adjusted service date, whichever is earlier. Partial years are not included.



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



Bonus, Commission, and other Short-Term Incentive Plan awards:

Discretionary plans (including WellsFargo Bonus Plan)

If you meet all of the terms and conditions of your plan and your last day of

employment is during the year or before the date of award payment, you may

be eligible to receive an incentive payment. Proration may apply if you were

not actively employed for the full year. Reference your plan document and



Nondiscretionary plans (commission, production, and other

functionalplans)

If you participate in a nondiscretionary plan, reference your plan



your incentive eligibility.

See Step 2: Set Up Your Retirement Income for more details.



If you meet one of the eligibility requirements, you may continue to be





• One WellsFargo Team Member

• 

• Discounted safe deposit box rent

• Reduced mortgage interest rates and closing cost credits

See Step 5: Enjoy Your Retirement for more details.





• 

• 

• 

Generally, if you terminated employment and were rehired within







Your completed years of service are measured from your corporate hire date

or adjusted service date, whichever is earlier. Partial years are not included.















Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures







rata vesting schedule has been established for team members who voluntarily

end their employment and meet the retirement eligibility criteria under the







generally following each vesting date while the award is in place, shares of



of required tax withholdings) approximately three business days after the

vesting date into an EQ account. Refer to your award agreement(s) for details

regarding vesting of your outstanding award(s) upon retirement.

See Step 2: Set Up Your Retirement Income for more details.



If you meet one of the retirement eligibility requirements on your

retirement date, your awards will continue to vest based on their original

vesting schedule following your last day of employment. Annual awards are

generally paid out in April following the March vesting date. Please refer to

your LTCAP award agreement(s) for details regarding vesting of your award(s)

upon retirement.

See Step 2: Set Up Your Retirement Income for more details.





• 

• 

• 

If you had a break in service (i.e., you terminated employment with









result, will not be included in the retirement calculation under the LTICP.

Please note, retirement treatment of any grant is ultimately governed by



Plan and the applicable grant agreement. Please review these materials,

which are located in your account at Computershare, to understand your

individualized treatment. Restricted stock awards are issued under the



Previous or other plan rules are not applicable to restricted stock awards.



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Once you have a retirement date in mind, talk to your manager about your expected retirement date. Try to provide as much notice as possible. Let your





holidays, and community service time must be used before your last day worked and will not be paid out if unused. If you’re unsure how much PTO you have

available, review the balance summary on the Time Tracker home page or click the View Balance Details link on Time Tracker.



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Verify and update your personal

information and beneciary designations

Update personal information



that you receive all of the necessary correspondence once you retire.



personal cell phone number and email address, on the Personal Information

page of Teamworks.





plan and don’t update them as their personal circumstances change. Now is









designations separately for each of the plans in which you participate. 





Did you know?





spouse, your spouse must consent to the designation in writing.



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Updating beneciary information

 Over the phone Online



1-877-HRWELLS 

(relay service calls accepted)



Central Time

From work: 401(k) Plan Sign-On



From home: Go to teamworks.wellsfargo.com and click WellsFargo & Company 401(k) Plan —

Active Team Members



Cash Balance Plan

1-877-HRWELLS 

(relay service calls accepted)



Central Time

From work:  Cash Balance Plan Sign-On under



From home: Sign on to benetconnect.wf.ehr.com/ess¹





1-844-326-7967

(relay service calls accepted)



From work:HSA Sign-On



From home: Go to teamworks.wellsfargo.com and click Health Savings Account (Optum Bank).





Death and Dismemberment



Online only

From work:Your Benets Tool Sign-On under



From home: Go to teamworks.wellsfargo.com 









Online only

From work:

Compensation page, click Deferred Compensation Sign-On. Once signed on to SkyComp, select



From home: Go to the SkyComp website at bfp-skycomp.com/wf¹

Plan Options.





1-877-574-1039



hours (Central Time)

From work:About LTICP page,



From home: Go to teamworks.wellsfargo.com and click Log-In Help







Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Cancel your Commuter Benet Program election















Online:

• WageWorks Sign-On

• teamworks.wellsfargo.com and select WageWorks under Claims Administrators.

Over the phone:

Contact WageWorks® at 1-877-WAGEWORKS



Commuter card balances

• 





• 

retirement date and any unused funds will be forfeited.



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



You may continue to submit receipts for eligible expenses that were incurred

before your retirement date until your available account balance is zero or







• Go to teamworks.wellsfargo.com and select WageWorks under Claims

Administrators.

• Click Submit Receipt or Claim under the Dashboard section of the page.

• Select Pay Me Back and follow the prompts to complete your online claim.

• Submit your receipt or invoice as soon as possible.





is for the month of March, you may submit your request for reimbursement





Time on the fourth business day of the month. Claims received after the

fourth business day of the month will be reimbursed in the following month.



NextPrevious



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



 Choose your retirement date.

 Talk to your manager about your

expected retirement date.

 Update your personal information.

 

 Cancel your Commuter



Notes:

PRINT THIS PAGE



Step 2

Set up your

retirement income

Now it’s time to think about your sources of income in retirement and how

to access them. You have some important decisions to make about your

retirement savings, when you want to receive it, and how to make it work



your retirement income may be generated from several sources including



savings such as Individual Retirement Accounts (IRAs), and Social Security





plans, as well as some general information about Social Security. It is

important to note that some plans require action on your part at the time of

your retirement or after you are retired. Others don’t require action, but there

are some things you’ll want to be aware of.



 

 

 

 Social Security



for your information only

• 

Compensation Plans

• 

Incentive Compensation Plan (Restricted

Share Rights)

Other sources of retirement income

(applicable to a limited population)

• 

• 

• 

• 

• Other executive compensation plans

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



WellsFargo & Company 401(k) Plan



to do with your account balance upon retirement. This section provides

general information about your options and the resources available to

support you.





Along with this brochure, you’ll receive a Special Tax Notice Regarding Plan



information, including the special tax treatment for certain distributions of

401(k) Plan

Summary Plan Description (SPD)

Plan, including distribution options in retirement. Review these materials







401(k) Plan Sign-On











• 

• 









Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



Your options





In most cases, you may choose any combination of the options below to meet your individual needs.





Take it

• You can take all of your retirement savings as cash,

payable to you.

• You may choose to receive it in a lump sum

(paid to you all at one time) or a partial lump sum

(paid to you in two or more partial payments).

• Keep in mind, the IRS may impose an early









Roll it

• 

Individual Retirement Account (IRA) or another





Leave it

• 



full distribution.

• Tax rules require you to begin receiving distribution





of the calendar year following the date you turn



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures













sign on to your account and manage your shares will be mailed to your home address on record.



• 

to you in cash in a single lump sum. You will receive the payment in the form of a check mailed to your home address on



contact a plan specialist at 1-877-HRWELLS

• 





1-877-HRWELLS



Time. Relay service calls are accepted.

Read the Special Tax Notice for important

information



401(k) Plan Sign-On

signed on, go to Plan Resources under Plan

Information.

You may also contact 1-877-HRWELLS



mailed to you.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures





A team of plan specialists is available to help you understand your distribution options. They will explain how each



While you can contact a plan specialist anytime to review your options, you can’t initiate a distribution until after your



Plan. Refer to the 401(k) Plan SPD 



• Over the phone:

– Call 1-877-HRWELLS 

– 

Relay service calls are accepted.

• Online:

– If you use online banking with WellsFargo Online®, you can use your existing wellsfargo.com username and



– Go to teamworks.wellsfargo.com

link and then choose 401(k) Plan Sign-On.





Did you know?



joint and survivor annuity rules and you are

married, your spouse may have to consent to

the distribution. You will receive forms about

spousal consent at the time you request a

distribution unless you elect to receive your



survivor annuity.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures









last business day of the quarter following the quarter in which your employment ends.

If you don’t repay the loan by the deadline, the balance, including interest accrued to the date of the default, will be

automatically defaulted and the outstanding balance of your loan will be reported to the IRS as taxable income and











or perform other transactions.



• If you use online banking with WellsFargo Online® you can use your existing wellsfargo.com username and password



• Go to teamworks.wellsfargo.com

and choose 401(k) Plan Sign-On. Enter your username and password. If you don’t have a username and password,





• Call 1-877-HRWELLS

• 





for retirement year



your retirement and you meet the eligibility







sharing contribution made for the year of your

retirement. The amount you receive will be based





contributions are typically deposited in April

following the end of the plan year for which the









the former employer to understand your

options at retirement.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



WellsFargo & Company Cash Balance Plan



the Cash Balance Plan is now frozen, cash balance accounts continue to receive investment credits on a quarterly basis.





This section provides general information about options available to you. You can also refer to the Cash Balance Plan

Summary Plan Description (SPD) for additional details about eligibility and distribution options.

Not sure if you have a Cash Balance account?



at 1-877-HRWELLS 

Representatives are available Monday through



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



Your options









Take it

When you decide to take a distribution, you can elect to

receive payment from the Cash Balance Plan in one of the



• 



annuity, payments cease when you are no longer living.

• 







time of your death. With a joint and survivor annuity,

the amount of the monthly payment is generally less



are expected to extend over a longer period of

time (i.e., over the joint life expectancy of you and



• 













• 







Roll it

• 

Plan can be rolled over to an Individual Retirement



retirement plan.



Leave it

• 







whichever is later.

• Your Cash Balance Plan account will continue to

earn investment credits until you elect to receive

a payment.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures





may have additional payment options available to you. You can review these payment options when you estimate your

Cash Balance Plan distribution options. See the Estimating Your Payments section on the next page.



• 



• 





• After payments begin, your monthly annuity amount and the person you selected as your designated joint



• 



age at the time of distribution.



• Once you decide on a distribution option, you must choose the date you want to begin receiving your Cash





• 





• When you request a distribution, you can choose to have your payment made in the form of a check mailed to

your home or you can have it direct deposited into your checking or savings account.

• 

each month. If you’ve chosen to have a check mailed to your home, you will receive your check on approximately



Check your Cash Balance Plan account balance



Cash Balance Plan Sign-On

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures





















You can initiate the distribution process over the phone or online.

• Over the phone:

– 

– 

Relay service calls are accepted.

• Online:

– Cash Balance Plan Sign-On 

– benetconnect.wf.ehr.com/ess,¹ sign on as a returning user or create an account.



representatives after you retire



Retirement Service Center representative using the contact information above. You can obtain account information,



Estimate your monthly





Cash Balance Plan Sign-On 

Tools. Choose Cash Balance Plan and then





or less at the time of your retirement, it will

automatically be paid to you in cash in a single

lump sum.

You will receive the payment in the form of a

check mailed to your home address on record



last day of employment. If you would like to

receive the payment sooner, you may contact



1-877-HRWELLS 

after your last day of employment.

Representatives are available Monday through



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



WellsFargo & Company Stock Purchase Plan











Your options

You must select one of the following distribution options for your



• Sell all of your shares

• 

(DRS account) and sell the fractional shares

• 

Reinvestment Plan

Distributions are not eligible for a rollover to any retirement plan or Individual

Retirement Account (IRA).



• Contact EQ at 1-877-HRWELLS 

provide instructions on how you would like your shares distributed.

•







employment, a withdrawal will be automatically processed. Your shares will

be distributed as full shares and credited to a DRS book entry account in your

name with EQ. All fractional shares will be paid to you in cash and mailed to

your address on record as soon as administratively possible.

Additional information about the Stock Purchase Plan can be found in the

Stock Purchase Plan Prospectus.

Check your Stock Purchase Plan account balance

Stock Purchase Plan under

Managing Your Shares.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



Social Security





important part of planning for your retirement. It’s important to understand

your payment options and how the amount of your Social Security retirement









The Social Security Administration recommends that you apply for Social Security





• ssa.gov/retire¹

• 1-800-772-1213



• 





advice about your individual circumstances. Contact Social Security at 1-800-772-1213





individual circumstances.

Learn more



ssa.gov/retire.¹

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



Bonus, Commission, and other Short-Term Incentive Plan awards



If you meet all of the terms and conditions of your plan, and your last day of employment is during the year or before

the date of award payment, you may be eligible to receive an incentive payment. Proration may apply if you were not

actively employed for the full year. Reference your plan document and review your plan terms with your manager to







check mailed to your home address on record).

1-877-HRWELLS







found in the WellsFargo Bonus Plan Summary (PDF).



with your manager to determine the impact on award eligibility and the timing of award payments.



If you participate in a nondiscretionary incentive plan, talk to your manager about how your retirement may impact

your incentive and the timing of incentive payment. Reference your plan document and review your plan terms with





discretionary plans

If the terms of your discretionary incentive

plan provide award eligibility for retired team







employment and meet one of the following age



• 



• 



• 



Years of service are measured from your

corporate hire date or adjusted service

date, whichever is earlier. Partial years are



Generally, if you terminated employment

and were rehired within six months of your

termination, your prior years of service count in

calculating the eligibility above.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures













voluntarily end their employment and meet the retirement eligibility criteria







the nearest whole number of shares). These shares will be delivered within



generally following each vesting date while the award is in place, shares of

of required tax withholdings) approximately three business days after the

vesting date into an EQ account. Refer to your award agreement(s) for details

regarding vesting of your outstanding award(s) upon retirement.



• 

• 

• 









not be included in the retirement calculation under the LTICP.

Please note, retirement treatment of any grant is ultimately governed by the terms



agreement. Please review these materials, which are located in your account at Computershare, to





applicable to restricted stock awards.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures







• 

the About LTICP page, select Long-Term Equity Awards Sign-On.

• teamworks.wellsfargo.com







the LTICP or to ask other questions about the LTICP, contact Executive

Compensation at 1-877-574-1039. Representatives are available Monday



questions to Executive Compensation at excomp@wellsfargo.com.



be found in the Long-Term Incentive Compensation Plan Prospectus (PDF).



contact a Computershare customer service representative at

1-866-463-1070



excluding bank holidays.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



PRINT THIS PAGE



 

and action required following your last day



 Make Cash Balance Plan elections and return

any required forms.

 Review Stock Purchase Plan distribution

options and required action following your last

day of employment.

 

and decide how and when to apply.

 Review discretionary or nondiscretionary

incentive plan eligibility.

 Understand vesting associated

with RSR awards.

Notes:

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures





• 

• 

• 

• 

• Other executive compensation plans

If YES review the section on the next page.

If proceed to

NO PAGE 36

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



WellsFargo & Company

Deferred Compensation Plan





of distribution, your deferral account balance will be distributed in the form

you elected previously (lump sum or installment payments) beginning

in the March following your last day of employment. If you retire after

commencement of your distribution, your deferral account balance will

continue to be distributed in accordance with your original election.

Review your balances and distribution elections online

• 

On the About Deferred Compensation page, select Deferred

Compensation Sign-On.

• bfp-skycomp.com/wf.¹







Executive Compensation at execcomp@wellsfargo.com.

Additional information about the Deferred Compensation Plan can be found in the

Deferred Compensation Plan Prospectus.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



WellsFargo & Company Long-Term Cash Award Plan



(LTCAP), your awards will continue to vest based on their original vesting schedule following your last day of

employment. Annual awards are generally paid out in the April following the March vesting date.



• 

page, select Deferred Compensation Sign-On.

• bfp-skycomp.com/wf.¹





the LTCAP, contact Executive Compensation at 1-888-383-2203



execcomp@wellsfargo.com.









• 

years of service,

• 

• 

years of service)

If you had a break in service (i.e., you





service, as documented in PeopleSoft, the





length of separation.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



WellsFargo & Company Supplemental 401(k) Plan

1-800-994-6822 to discuss your



wfsupplementalplans@ndley.com.

WellsFargo & Company Supplemental Cash Balance Plan



Service Center at 1-877-HRWELLS



Relay service calls are accepted.



• 

• benetconnect.wf.ehr.com/ess¹. Sign on as a returning user or create an account.

Other executive compensation plans





Compensation department at 1-888-383-2203. You can also email questions to Executive Compensation

at execcomp@wellsfargo.com.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



Step 3

Decide upon health care

coverage in retirement





family is an important step in preparing for your retirement. As you approach

retirement, you should evaluate all of the health care options available to you,





coverage available through a working spouse or partner, or coverage through

the public or private marketplace.

The options available to you and the things you’ll want to consider as you







Refer to the appropriate section on the following pages, based on whether

you will be eligible for Medicare at the time of your retirement.



Review the following section for those not yet eligible for Medicare.

YES Proceed to

PAGE 48

If you’re eligible for Medicare at the time of your retirement and you have

an eligible spouse, partner or other dependent who is not yet eligible for



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those not yet eligible for Medicare



Information for those not yet eligible for Medicare

(generally under age 65)

As you approach your retirement, it’s important to understand when your active team member health care coverage

ends, consider the health care coverage options available to you in retirement, and understand what happens to funds

in your health account once you retire.



Your active team member medical, dental, and vision coverage will end at the end of the month in which your last day

of employment takes place. Coverage for your enrolled dependents will end when your coverage ends.

Consider your options









• 

• 

• 

• 

– 



– 





medical subsidy and the amount of your subsidy is dependent upon several factors, including your age and credited

years of service with a former, or legacy, organization.





Sign on to benetconnect.wf.ehr.com/ess



and



your expected last day of employment within

the current calendar year.



Center at 1-877-HRWELLS



Representatives are available Monday through



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures





Keep in mind that retiree medical coverage when you’re not yet eligible for

Medicare is generally far more expensive than active team member coverage

for a number of reasons. The average age and unique health care needs of

participants in retiree medical plans results in higher monthly premiums for

all participants in the plan. In addition, most team members pay the full cost

of retiree health care coverage rather than only paying a portion of the cost

as they did when they were enrolled in active team member coverage.





dental plans for retirees not yet eligible for Medicare. Retirees are generally



for a retiree medical subsidy, the subsidy amount will be deducted from the full

retiree medical monthly premium amount in the table below.



 You only You + spouse/

domestic partner

 You + spouse/

domestic partner +



Spouse/domestic

partner only

 Spouse/domestic



       

       

       

       

       

Dental Plan Name You only You + spouse/

domestic partner

 You + spouse/

domestic partner +



Spouse/domestic

partner only

 Spouse/domestic



Dental Plan       



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those not yet eligible for Medicare









Service Center at 1-877-HRWELLS





Enrollment Kit, which will include your retiree health care plan options and premiums.



• Sign on to benetconnect.wf.ehr.com/ess¹

• Enter your expected last day of employment and see the options available to you. Your

expected last day of employment must be within the current calendar year to request a Retiree





•

If you plan to elect coverage under the Retiree Plan, you must make your elections up



employment. If you don’t elect coverage during the enrollment period available at the time of

your retirement, you will not be eligible to enroll in the future.

• 



retirement date). This means that you will not have a gap in coverage between the time your

active team member coverage ends and your retiree health care coverage begins.

• 

– Online:

Sign on to benetconnect.wf.ehr.com/ess¹

Elections. Enter your expected last day of employment and make your elections.

– Over the phone:

1-877-HRWELLS



Central Time. Relay service calls are accepted.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those eligible for Medicare not yet





• 

you may also elect coverage for your eligible dependents. If you do not

choose to enroll your eligible dependents at the time you initially enroll,

you may only add them to your medical coverage in the future if you





dental coverage. Keep in mind that dependents added to medical



medical subsidy, even if you are eligible for a retiree medical subsidy at

the time your dependent is added to coverage.

•











the plan options available to them.

Dependent children are eligible for coverage under the Retiree Plan if







active team member medical or dental plan, they will not be eligible

for coverage under the Retiree Plan. They will, however, be eligible for

COBRA continuation of their active team member coverage (see the

COBRA continuation section).



Plan, refer to the

Retiree Benets Book

under Resources on the right

rail. Information about retiree medical subsidies can be found in Appendix D.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those not yet eligible for Medicare



COBRA continuation of active team member coverage



coverage on your last day of employment, you and your enrolled dependents will be eligible for COBRA continuation.



COBRA is a temporary



COBRA continuation independently. This means your covered spouse, partner, or other dependents can elect COBRA

continuation even if you do not.





portion of the cost like when you are enrolled in active team member coverage. This means COBRA continuation costs

more than your active team member coverage.

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those not yet eligible for Medicare





Plan Name You only You + spouse¹ You + children² You + spouse¹ + children²

    

    

    

    

    

    

    

    

    

    

    

    



(Oahu, Maui, Kauai, Lanai, Molokai, and the Big Island)

   

    

    

    

    

    

    

    

    

Delta Dental Standard    

Delta Dental Enhanced    

Vision Plan    







Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those not yet eligible for Medicare







about your COBRA continuation coverage options and costs will be mailed to your home address









payment is received. Once your premium payment is received, your coverage will generally be



have a gap in coverage between the time that your active team member coverage ends and your

COBRA continuation coverage begins.







health care coverage after your COBRA coverage ends. You must make your retiree health care









• The length of time you’ll need coverage, including coverage after you

become eligible for Medicare

• The cost of coverage, taking into account any retiree medical subsidy

you may be eligible for



If you have questions about COBRA continuation, contact

1-877-29COBRA









Benets Book

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those not yet eligible for Medicare



Coverage available through the health insurance marketplace



insurance marketplace. This means you have an additional option to consider when choosing your health care

coverage in retirement.

Special enrollment period

Because you are retiring and will no longer have access to active team member health care coverage, you may

be eligible for a Special Enrollment Period that allows you to elect coverage through the public health insurance







Premium tax credits

You may be eligible for a premium tax credit toward the cost of marketplace coverage depending on your household

income. To determine if you may be eligible for a premium tax credit toward coverage purchased through the public

marketplace, visit healthcare.gov/lower-costs¹.



To review marketplace plan options and costs and elect coverage, visit healthcare.gov¹ or contact the marketplace call

center at 1-800-318-2596

The above content about the health insurance marketplace is provided as general information to help you understand



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those not yet eligible for Medicare



Health care accounts upon retirement







Debit Mastercard®.





• 

• 









taxable income.



eligible expenses such as copays and coinsurance and premiums for Medicare Part B or Part D and Medicare Advantage











• 

• 



Call Optum Bank® at 1-844-326-7967.





Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those not yet eligible for Medicare







WageWorks Sign-On¹

contact WageWorks at 1-877-WAGEWORKS











the month in which your last day of employment takes place. Expenses that are incurred after your participation in the







• 





participant.wageworks.com.¹

• 







• If you are enrolling in a high deductible health plan in retirement, keep in mind that you may not make



• 







Spending Accounts, refer to the

Benets Book

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those not yet eligible for Medicare



PRINT THIS PAGE





 

sponsored retiree health care coverage.

 

model available options online.

 Understand COBRA continuation options.

 Consider health care coverage available through a

working spouse or partner.

 Evaluate coverage available through the health

insurance marketplace.

 Understand what will happen to funds in your

health account upon your retirement.

 Review all health care options and costs.

 Enroll in coverage.

Notes:

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those not yet eligible for Medicare



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information for those eligible for Medicare

(generally age 65+)

If you are eligible for Medicare at the time of your retirement, there are some important dates that you’ll want to pay



to avoid being subject to a late enrollment penalty. It’s also important to understand when you must elect retiree

medical coverage to ensure that you don’t have a gap in coverage between the time your active team member medical

coverage ends and your retiree coverage begins.



Your active team member medical, dental, and vision coverage will end at the end of the month in which your last day

of employment takes place. Coverage for your enrolled dependents will end when your coverage ends.











• 

• 

• 

• 

– 



– 





for a retiree medical subsidy and the amount of your subsidy is dependent upon several factors, including your age and

credited years of service with a former, or legacy, organization.









Center at 1-877-HRWELLS



Representatives are available Monday through





Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



retiree medical coverage once you are eligible for Medicare, you will be able to





the opportunity to choose from a variety of individual Medicare medical,

prescription drug, dental, and vision plans available in your area. Medicare







See page 56













Center at 1-877-HRWELLS



Information for those eligible for Medicare



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Information about Medicare

As you’re evaluating your health care coverage options in retirement, it’s important that you take time to understand











be enrolled in Medicare Part A and Part B at the time you are electing coverage. To avoid a gap in coverage between

your active team member medical coverage and your retiree medical coverage, you must make your retiree medical

election prior to your last day of employment. To ensure that you are enrolled in Medicare Part A and Part B in time to

elect retiree health care coverage, you should consider signing up for Medicare about three months before your last

day of employment.

Signing up for Medicare

Medicare Part A

You must be enrolled in Medicare Part A before you can enroll in Medicare Part B. When you enroll in Medicare Part A,

your Part A coverage will generally begin retroactively six months prior to the date you sign up (but no earlier than the





in Medicare. Because Medicare Part A will automatically begin retroactively up to six months prior to the date you sign





you may incur a tax penalty.



• Online at medicare.gov¹

• By calling Social Security at 1-800-772-1213







• 





coverage is considered group health plan



that, if you are enrolled in active team member

medical coverage, upon your retirement you and

your covered spouse are eligible for a Special

Enrollment Period to enroll in Medicare.

Information for those eligible for Medicare



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Medicare Part A and Part B



The Centers for Medicare & Medicaid Services (CMS) allows you to enroll in Medicare during your Initial Enrollment









Your Initial

Enrollment Period



April and ends in October.

Apr JuneMay

Birthday

July 23 Aug Sept Oct

Your Initial Enrollment Period if your





begins in March and ends in September.

Mar May JuneApr

Birthday

July 1 Aug Sept







Enrollment Period (SEP) to sign up for Medicare. You can sign up for Medicare anytime while you’re covered under



your employment ends. Generally, the SEP is not available for domestic partners. If you cover your domestic partner,

contact Medicare for information about enrollment periods for domestic partners.

Remember

While your ability to sign up for Medicare

extends well beyond your retirement date, if



Medicare Advantage plan, you must enroll within



Important reminder

If you don’t sign up for Medicare during your

Initial Enrollment Period or Special Enrollment

Period, you could be subject to a late enrollment

penalty, so it’s important to take action at the

appropriate time.

Information for those eligible for Medicare



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures





• When signing up for Medicare as part of a Special Enrollment Period,



CMS.gov

have been enrolled in group health plan coverage and are eligible for a

Special Enrollment Period.

• 



1-866-512-1002 or send the form by secure

email to voefax@wellsfargo.com.

• 



• If you would prefer to receive the completed form back by secure email



the time you submit the form.

• 

required when you sign up for Medicare, contact Social Security at

1-800-772-1213.

After you enroll in Medicare





(MBI). You will need to have your MBI before you can enroll in coverage under



The above content about Medicare is provided for informational purposes



individual circumstances. Contact Social Security at 1-800-772-1213 or in



Medicare and to discuss your individual circumstances.

Information for those eligible for Medicare



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

WellsFargo-sponsored

Medicare Advantage plans

Medicare Advantage plans are also known as Medicare Part C. These plans





original Medicare.

PART

Hospital

PART

Doctor and

outpatient

PART

Prescription

drugs

EXTRA

PROGRAMS

Beyond original

Medicare





Advantage (PPO) plan. If you live in California, you will also have the option

to select a Kaiser Medicare Advantage plan.





information about the current year’s plan options and monthly costs,

1-877-HRWELLS







• Sign on to benetconnect.wf.ehr.com/ess¹ and select Model Retiree



• Enter your expected last day of employment and see options

available to you.

Your expected last day of employment must be within the current calendar



health care coverage options online.





Service Center at 1-877-HRWELLS



Information for those eligible for Medicare



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures





coverage. Your retiree medical subsidy amount will be deducted from the full retiree medical monthly premium amount in the table below.

 You only You + one You + two You + three You + four One

dependent only

Two

dependents only

Three

dependents only

Kaiser Senior Advantage Northern CA        

Kaiser Senior Advantage Southern CA        



PPO Plan

       



• 

after your last day of employment. If you don’t elect coverage during the enrollment period available at the time

of your retirement, you will not be eligible to enroll in the future.

• 

you make your Medicare Advantage plan election and the Centers for Medicare & Medicaid Services (CMS)

approves your application for enrollment. This means if you do not elect medical coverage prior to your last day

of employment, you will experience a gap in coverage between your coverage as an active team member and your



• 

time you are making your Medicare Advantage plan election. To ensure that you have your MBI in time to enroll

in a Medicare Advantage plan prior to your last day of employment, you should consider signing up for Medicare

about three months before your last day of employment.

• 



• 

– Online:

Sign on to benetconnect.wf.ehr.com/ess¹

Enter your expected last day of employment and make your elections.

– Over the phone:

1-877-HRWELLS 

Relay service calls are accepted.

Remember

If you do not elect medical coverage prior to

your last day of employment, you will experience

a gap in coverage between your coverage as an

active team member and your coverage under a

Medicare Advantage plan.

Information for those eligible for Medicare



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



• 





eligible for Medicare and would like to explore the plan options available to them.

• If you do not choose to enroll your eligible dependents at the time you initially enroll, you may add them to your







even if you are eligible for a retiree medical subsidy at the time your dependent is added to coverage.

• 





eligible for coverage under the Retiree Plan. They will, however, be eligible for COBRA continuation of their active

team member coverage (see the COBRA continuation

1-877-HRWELLS



calls are accepted.



Retiree Benets Book

under Resources on the right rail.

Information about retiree medical subsidies can be found in Appendix D.

Information for those eligible for Medicare

56 of 81

Information for those eligible for Medicare

Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Via Benets™

Via Benets is a voluntary Medicare coordinator service that oers you and your Medicare-eligible dependents support

in making your individual Medicare plan enrollment decisions. If you are eligible for Via Benets, you’ll have access to

a wide variety of individual Medicare plans available in your area. You can choose from Medicare Advantage, Medicare

Supplement, and Medicare Prescription Drug plans with dierent coverage oerings and monthly premiums. You’ll

also have access to retiree dental and vision plan options. A team of Medicare experts, called benet advisors, will

provide you with personalized support in selecting and enrolling in an individual Medicare plan that’s the best t for

your unique health needs and that works within your budget.

Enrolling in coverage through Via Benets

You can elect coverage through Via Benets up to three months before the day your active team member medical

coverage ends. As long as you elect coverage prior to your last day of employment, your coverage will generally be

eective the rst of the month after your last day of employment. If you do not elect medical coverage prior to your

last day of employment, you will experience a gap in coverage between your coverage as an active team member and

the coverage you elect through Via Benets.

What is Via Benets?

Via Benets is a voluntary private Medicare

coordinator service. It is not a public health

insurance exchange. Public exchanges were

established under the Aordable Care Act and

are sometimes referred to as federal or state

insurance exchanges.



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

Steps to enroll









can reduce the time you spend on the phone during your

enrollment appointment by gathering the information and



enroll. Go to my.viabenets.com/wf¹ and select My Account.

You’ll need to provide an email address and create an account





you call to schedule your enrollment appointment or when you

call to enroll.



Schedule a call to enroll

You can schedule your call to enroll in coverage by going

online to my.viabenets.com/wf¹

1-866-202-9574



Make sure to schedule your call to enroll as soon as possible to

give yourself time to consider your options and enroll before

your last day of employment. An enrollment call can take one

to two hours to complete, so give yourself plenty of time.



Review your plan options and enroll

If you’d like, you can review the plans available in

your area before your enrollment call by logging in to

my.viabenets.com/wf¹ and selecting the Shop & Compare

tab. Don’t worry if you’re unsure about which plans are right



options and select coverage that meets your medical and





• Your personal information, including your legal name, phone number, address, and Social Security number

• Your Medicare ID card, including your name as it appears on the card, your Medicare number, and your



• Your prescription drug information

• Information about doctors you use

• Any other medical considerations that may help in identifying the plans that will best meet your needs

Information for those eligible for Medicare



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



• my.viabenets.com/wf¹ and select Enrollment Guide.

• my.viabenets.com/wf¹

and select Medicare Retiree Presentation under Video and Audio.

• 1-866-202-9574







Retiree Plan.

If you have dependents who are not yet









Center at 1-877-HRWELLS



Representatives are available Monday through



Relay service calls are accepted.

Your dependent will receive information about





Information for those eligible for Medicare



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures

COBRA continuation of active team member coverage



on your last day of employment, you and your enrolled dependents will be eligible for COBRA continuation.



COBRA is a temporary

COBRA continuation independently. This means your covered spouse, partner, or other dependents can elect COBRA

continuation even if you do not. Keep in mind, COBRA coverage automatically ends once you enroll in Medicare.





portion of the cost like when you are enrolled in active team member coverage. This means COBRA continuation

costs more than your active team member coverage.





situation:

• The length of time you’ll need coverage,

including coverage after you become eligible

for Medicare

• The cost of coverage, taking into account

any retiree medical subsidy for which you

may be eligible

Information for those eligible for Medicare



Retirement

timeline

Get ready

Income

Health care

Security

Enjoy

Resources

and support

Notices and

disclosures



Plan Name You only You + spouse¹ You + children² You + spouse¹ + children²

    

    

    

    

    

    

    

    

    



(Oahu, Maui, Kauai, Lanai, Molokai, and the Big Island)

Fill Online, Printable, Fillable, Blank 5 Step Guide Retiring From Wells Fargo Form

Related forms

Fillable 5 Step Guide Retiring From Wells Fargo

Fill Online, Printable, Fillable, Blank 5 Step Guide Retiring From Wells Fargo Form

Related forms