Did you receive the payout over several pay periods or as one lump sum? I left at the end of the December (severance) and just received the first payout. At this rate it will take a couple of months. Is that what the VSP payout timeframe is as well?
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Way back in 2002 I took a lump sum (RIF) then avoided taxes by rolling it to a IRA. On top of that collected unemployment for almost a year (Texas). Very good today my portfolio is pushing 4 million. Good luck to all you good folks.
@ad+1jqvd7qde For tax purposes, I wish I could have taken it in a series of payments. then I wouldn't have been hit with 32% taxes for 2024.
Why would anyone who took the payout still be on this page
Whenever given the choice of receiving money in either a series of payments or in one lump sum, always choose the lump sum.
Take the money & run!
Severance is paid out as a lump sum, minus taxes. If you left at the end of December, you should have received it by mid February, at the latest. Unused vacation is paid separately and you would have received that within 1 or 2 pay cycles post term. Stock Together can take up to 60 days and is deposited into your Fidelity account. If you want a check, you have to call Fidelity to get it. If the severance you received does not match your severance documentation, I would inquire as to why.