Final day was 11/28 and just wondering when to expect it to be deposited? I called HR and after holding for over an hour the call was dropped.
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Be glad you were let go now. That 42% is about to jump in the coming 4 years
I was paid severance in the beginning of September. I was wanting them to take out in 401k but nothing was taken out. We were also told that 401k would not be take out. It’s strange that some on here had 401k taken out?
401k taken out of my severance also. Over 50 percent of my severance gone in taxes and deductions. smh
My last day was 11/28 also, and I haven't received anything other than a fedexed letter to me asking for $71.50 to pay that ridiculous payday loan that I took out because they couldn't figure out how to pay people on a normal pay cycle. I seriously hate them.
Will the 40% be less if you live in a state without state income tax?
I guess that will be OK to deduct 401(k) monies. The 40% is a k–ler
I can vouch for the 401K post below. Per the "paystub" I received in the mail a total of 40% was taken out in fed, state, and city tax and 5% 401K contribution was deducted on top of the 40% in taxes. Others from my area had 401K taken out too.
The previous post is fake news. They dont take anything for 401k. Only 42% in state and federal taxes.
Got ours on Thanksgiving in our accounts about 40 days after our last day. They took out almost 40% in state and fed taxes and other deductions. Folks that didn't shut off their 401k contributions had even more taken out of the severance.
We got our severance firect deposited about 2 weeks after our last day...minus 42%. PTO payout was the day before our last paycheck was provided.
Based on the people I know of and other posts here some have received their severance quickly 10-14 days after their final day, some not until right before their 60 day time after their last day and others anytime in between. Our impacted area some got sooner and some got later. There seems to be no real schedule even within the same groups.