Since signing the "Agreement and Release" is required to receive severance, you may also qualify for unemployment benefits. I applied expecting unemployment payments to begin after my severance ended, but I have been receiving both simultaneously. While I live in a state that offers relatively high benefits and a longer collection period, I would encourage you to apply regardless of where you live.
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@a1 What an ignorant comment. Everything was 100% truthful. I am just fortunate to live in a Blue State that provides assistance when needed. I received unemployment and am still receiving it) concurrently with my severance while I am applying for jobs.
Every state is different, but in some states you can collect unemployment while receiving severance. You just have to wait the notification period of 30 days until you are officially terminated. As long as you are honest on the application, it's worth a try.
In CT you can’t collect unemployment while receiving severance. So you don’t need to apply until a couple weeks before your severance ends (to give them enough time to process your claim so your first payment isn’t delayed).
Other states may be different.
@g3 some NJ unemployment worker told me I could collect while on severance so I did
@a9 I'm in NJ and I tried to apply right after my employeement ended. I was tehn told I need to wait until my severence ends.
@aw Yup. Blue states have much better unemployment benefits. I moved from MN ($857/week max benefit) to FL where the max benefit is a pathetic $275/week.
Pro tip: for anyone considering moving here to FL because they think it's cheaper- think twice. Yes there is no income tax, but lots of other things make it expensive. For example, homeowners' insurance is insanely high, new buyers are hit with high property tax assessments, and you pay a lot in utility costs since you have to run the AC most of the year. Also, FL is the 8th most expensive state for groceries.
MA, WA, NJ have good unemployment benefits, about $1000 per week!
At least in NJ, you are encouraged to file right away regardless of the situation. You have to provide a copy of your separation agreement with your employer, which states if you are receiving continuation pay or a lump sum. In my case, I accepted the retirement package last year. I was approved initially but then was interviewed and denied. I was honest in my application and was not surprised it was then denied when I sent a copy of the agreement. No harm in applying.
Once the severance runs out, you can apply. I would do it a few weeks before you are done with the severance. Cigna will need to pay the unemployment insurance out. Its usually a flat amoount based on employment years, that a percentage is paid out weekly as you fill out a online form that proves you have been looking for full time work.
Best bet is to go to the unemployment office and explain your circumstances. They will explain your options depending on your location. Keep it legal, you have enough on your plate now.
It's a very good idea to apply, yes, because you want that record. It's just as important to answer the question about a severance in the affirmative. You are getting paid every two weeks as part of the severance. It would appear you've omitted either one or both details on your application.
You will get caught, and you will be told to pay it back, presumably with some kind of interest/fee/threat.
@a1 it is legal in some states still. Though in many it isn’t. It would really depend on where OP is located.
See you in jail