I'm curious, are these payouts gross or net of taxes?
Second, thank you to everyone contributing to these conversations. We're being told to keep quiet, but that only benefits the company. It's wonderful seeing us come together in uncertain times by sharing information and helpful advice.
To the former employees that come here: thank you as well. Sometimes, we need a guiding hand from someone who has seen the other side.
I wish each and every one of you the best.
I took the VRP a couple years ago. Severance period was just like normal pay with insurance, taxes, etc. At the end of the severance period, you may have insurance, 401k, and pension, etc decisions to make.
At that price for COBRA you would be better off looking at your state's Healthcare Exchange / Marketplace. You would not need to wait for the open enrollment period as you have a "qualifying event."
As a single individual my exchange healthcare plan cost me an order of magnitude less than COBRA for equivalent coverage.
Have you checked out the price of COBRA yet? Personally paying $1700 a month for a spouse and child is impossible. I wish they made it a little easier for the average Joe.
Following my layoff, my severance and bonus payout were net of taxes. While, in my severance period, I received my "normal" wage direct deposited every two weeks as if I were still employed. I would imagine any VRP would also take out taxes and would operate in a similar manner. At the end of the year, you will receive your standard tax documents downloadable from the PepsiCo Alight site and/or in the mail from the company that you previously received when employed.