Please note - this is a question about SEVERANCE pay - (Not pension benefits).
Can anyone from previous layoffs tell me about your severance pay that comes to you AFTER you are off payroll.
If you were contributing to your 401K and ATT was matching at 6% before you were off payroll, did AT&T continue and contribute that 6% match with the final severance check?
No, sev $ is free and clear of anything to do with what you and the company were putting into the 401K, Roth, and pension if you had one. Good question though. Remember, in the fine print of accepting the sev, you waived your rights to sue, and to come back and ask for more.
For vacation payout, did they take 401k out of it? Was it taxed differently than your regular paycheck?
I took the MVO last December. I just got the severance payout today and I can confirm that they do NOT have 401k contribution or match on the severance.
My severance money was included with my last 2 weeks pay and my vacation buyback. They took dues and 401k money out on the 2 weeks pay. The taxes were on the whole check. The withholding was correct as I got about the same tax return as the previous year.
Unfortunately, no :-(
Nope
No