Make sure you ask if you will keep your current healthcare not the cheap state insurance. How much is my severance taxed you will see the 12 weeks they are offering is really only 6weeks. How soon will I get the severance money? Average turn around time is 2 months after you submit signed package. Can you collect unemployment even if its voluntary? Share what you find. They will try to make it the cheapest possible.
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You legally have the right to take a few days to review any separation agreement. Don't sign it right away, even when they pressure you to. By taking severance, you are giving up any right to pursue litigation against the company. A wrongful termination or whistleblower suit can be much more lucrative than a couple weeks of severance if you prepared yourself and saved pertinent documents.
Severence is taxed at a rate of right around 36 percent. I know this for a fact because I have been laid off and guess what: it's not the end of the world, trust me. Pretty much everyone I know hates or hated their job at UPX, anyway.
APOL shit all over the employees. Total scumbags, especially when 90% of UOP's revenue is VA or Title IV funds. We ostensibly work for the government but fface executives--people who don't know anything about higher education--micromanage and pressure us to do things we're not comfortable doing. Tell the executives to f off.
If paid thru normal payroll, your tax rate will apply. If paid as a lumpsum bonus, a 25% rate will apply, regardless of your tax rate. Is a voluntary acceptance considered resigning and how is eligibility for unemployment affected? These are legitimate concerned prior to agreeing to anything.
Good for you but I have 4 kids and need more than a month to finalize next job. "Paid vacation" sounds nice but its more expensive for me to be without health insurance. By the way thousands of companies give WAY better packages"one month vacation" is not that big of a deal but Im glad your taking it.
Everything he said is correct in the original post. It is taxed extremely high and can take 2 months
Who's this guy??! You can't negotiate a severance. Good grief, they are basically giving you an extended paid vacation. Take it, and fly because you won't get that anywhere else.
Like there is any negation, either you take it or dont.