Anyone actually get their severance? Curious how long it was received after last official workday, and also % federal income tax...Thanks.
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- You get all benefits if you get severance,
2 Deployment services for 6 weeks with pay checks for those 6 weeks after termination
- Pension + layoff check + ESIP roll over etc
- You get 6 months worth of medical you normally get from Company. then you can opt to cobra
DON"T PANIC
If you are in round 4 and wait until end of DEC 2020 to sign release papers, are you without benefits because you have been officially laid off? Do you sign-up for Cobra for a month and then take advantage of getting EOI in 2021 along with CVX extended Cobra for a year?
just remember if you are in Round 4 not to sign them right away wait until last possible moment, that way , the check is cut in 2021 and will reduce tax significantly
Also, 22% withholding tax. I’m living this, all this is factual.
Release forms sent out after last day of employment (July 10). After you return them (can be digital), 7 day revocation period. Earliest payout could be August 7 payday.