Want this question answered?
Yes,why would i not?
Yes
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.
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.
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.
At present (Jan. 2011, you can receive up to 99 weeks, if you qualify.
At present (Jan. 2011, you can receive up to 99 weeks, if you qualify.
Yes, you not only can receive both, but the severance pay is not deducted from your benefits.
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?
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.
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.
Check out the article titled "Wages" in the Related Link below. Severance pay may be considered part of the 'wages' you receive and the timing of when received may be very important either beneficial or not. There is generally a waiting period of 7 days, and then you receive benefits 7 days after approval.