3 weeks, plus an additional week for every year of service. There is a maximum number of weeks allowed, depending on your pay grade.
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401k not taken out as no longer employee during severance period.
if you have elected 401K to be taken out of regular pay- then that same % will be taken out of severance too.
If everyone is concerned CHANGE your w4 to. EXEMPT
Thank you for the replies. I keep hearing different things as well. I was told that it was around 35% and a few other people said it was their normal paycheck withholding.
For example if are to receive 13,000 your net will be
8,0000
What was the severence package? I keep hearing different things.
Normal withholding. No big hit as rumored.