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Your unemployment benefits, for the week you receive the lump sum severance, will be deducted by the amount of the payment, from your benefits. Otherwise, it will have no effect. See the Related Link below.
It is actually sometimes possible to receive unemployment benefits while on severance pay. It depends on the state you live in and how much severance you are receiving. If you cannot file for unemployment, you may be able to after the severance has run out-depending on how long unemployment extends for in your state. This article goes into the specifics of severance and unemployment. It can be tricky.
Yes, you not only can receive both, but the severance pay is not deducted from your benefits.
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.
Yes
Yes, but the severance could affect the amount of weekly unemployment benefits you receive. Check page 11 in the booklet found in the Related Link below for particulars.
If you take a continuous pay severance, unemployment would start when that ends, if you take a lump sum severance from your employer you can stare unemployment benefits a week after your job ends.
Yes,why would i not?
You have the right to file for unemployment, but if you receive a severance package from your employer you may be violating the terms of your severance package by filing for unemployment.
I work at my company for 26 year and have been let go do to the COVID-19. I receive unemployment. My company is giving me $27,986. in a severance package. How will that affect my unemployment payment?
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...
No, unfortunately, you have to be at least 62 years old to receive Social Security retirement benefits.