What would you like to do?
No, you can collect once your payments cease. If receiving a lump sum, they will calculate the number of equivalent weeks of pay and you will not be eligible for benefits during that time.
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I did. I received lump sum severance and collected unemployment in NYC. Of course, the regular one week waiting period for unemployment still goes so make sure to apply …immediately. Actually, if you think about it, a lump sum payment is really part of your compensation package, so as long you don't keep receiving a paycheck after that, then why shouldn't you be entitled to unemployment like everyone else? I imagine it would be different if you cotinue to receive a paycheck every week for a specified amount of time after you were let go though...
In my case, I was allowed 6 months of pay. Then Minnesota is going to take 50% of that pay for state taxes. The rate is higher because its a severance that is paid in one lump… sum. When you accept severance pay, you have to wait until the pay has run out (6 months in my case), before you can apply for unemployment insurance. -Minnesota
Yes, you can collect both severance pay and Unemployment IF the severance pay is not considered an extension of your employment, under the terms of the severance agreement. Fo…r more information on the subject, see the Related Link below.
Yes. I read starting June 1st it effects you no matter what. Before if you were let go and wouldn't be brought back it wouldn't. Sucks it starts June 1st as that's when …I do my first 2 weeks claim and I just got my severance. They are doing this to save money (6.5 million) so they can give everyone an addtional $25 a week. They will figure out how many weeks your severance is and your benefits won't start until then. I'm really upset about it myself.
PA - in 2005, employees could receive both a severance package and collect unemployment compensation benefits. Now an employee would still have the ability to apply for benefi…ts once the severance package is exhausted, but not at the same time. As each state handles severance pay/unemployment differently you need to check with your own state's employment security office for clarification. Some states allow the total severance with no affect on benefits others reduce weekly amounts, etc. Missouri, for example says severance has no affect (see the Related Link below for this example).
Yes, you can still collect unemployment benefits after receiving severance pay. These 2 benefits are separate and distinct from the other -- severance pay is the considerati…on given by the employer after the employee's dismissal or termination from employment either as a reward for the service or in exchange for waiving his right to sue the employer. Some severance packages actually include the benefit of uncontested unemployment benefits.
Not if you live in Florida, some states do not discriminate like Oregon. It is a state by state call.
no... severance is considered income.
Generally you will be disqualified for the amount of time that you receive severance. For example, if your weekly benefits are $400 a week and you earned $1200 severance, then… you will be disqualified for a month.
Some states allow it and some states offset your benefits by the amount of severance pay.
According to the Related Link below, severance pay will not affect your unemployment benefits.
Yes, but see page 14 in the Related Link below for particulars regarding the reporting of the severance pay.
Yes, you not only can receive both, but the severance pay is notdeducted from your benefits.
In State Laws
Most states will merely offset your benefits by the back pay in the week(s) received, but you must report it or it will cause problems. The state unemployment agency will ask …the former employer the last day you worked for which you were paid. It will deny you benefits for any day you were owed pay.
Yes, according to the Related Link below, you can.
You should direct this question to your state unemployment office. In some states it matters what the company calls it and how it's paid... if they're literally paying you wee…kly (as opposed to paying you a lump sum equal to so many weeks pay all at once) then it might affect your unemployment benefits.