So this whole "it's not a bonus" for the lump sum payment is quite funny seeing as those my lump sum was taxed 25% !! When adding that + the additional tax and 401k taken out the amount actually paid is almost half of what was shown on the statement given to us. Funny how they showed us an amount that was not with taxes taken out.
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Separate
Can anyone tell me if the check is separate from our normal paycheck? Or are they combining it?
@RioVURN-vqf micromanagement is a flaw but it usually starts way up the food chain.
Wondering where the folks are who said there team was getting $2500-$4000 and that it was only taxed at 25%. I believe it was the same person saying he/she was getting a raise for 2017 &18 combined and merit. Anyone else get 2 yrs worth?
@RioVURN-1pba You need to contact HR. The only deductions you should see are 401k and taxes. No insurance or HSA amount was deducted from my check.
I expected the taxes to be deducted, of course, but I was told by my leader that the other deductions for health insurance, HSA, etc. would not apply because those deductions were already applied to the regular paycheck that was issued the same day as the lump sum payment. Someone got it wrong somewhere.
I think in reality of the business world they do consider the one time raise compensation a “bonus” because they do not have to give us any raises so it was a gift of sorts. Not saying I agree with this at all. Just providing a different perspective.
The leader in the town hall meeting kept calling the one time payout a bonus yesterday. Human Resources should have been on that call.
No not everyone is. However when the majority is then your coach has to micro manage to meet their expectations. It’s up to you to understand or realize that they are just doing what they need to do to related to the overall team needs or to keep their own jobs. And to understand what does and doesn’t apply to you specifically. My coach is a micro manager and some of my teammates need their hands held, it is what it is.
Not everyone who resents being micromanaged lacks accountability.
There is no reason to assume anyone posting on this thread is also posting about being micromanaged -but nice try.
And these are the same people that whine about micro management. I understand venting about things but for some people are have a huge lack of personal responsibility.
I think this is a place where people can vent and feel relatively safe to do that...since it is not a wise thing to do in our work setting. Most of us know the in's and out's of all of this. We just need a safe place to vent and not be criticized or judged....... So don't be so judgmental. We can get that at work.
Your leaders had nothing to do with calculating this. They got the same info as you. They were tasked with explaining it but your independent statements were pretty straightforward and easy to understand. If not, HR was available. Does your leader explain what you will get in your weekly pay? No. Some of these comments show incredible lack of understanding and then finger pointing. Hard to be sympathetic
It is like any other salary compensation and clearly taxes will apply and any other deductions. That was clear in the documents so you bad for thinking otherwise. When you do your taxes for this fiscal year, it will sort out. Plus you can adjust your 401K deductions going forward if you want to offset current deductions. If you expected it to be different, you misunderstood. It was clear on all the faqs and documents.
Won't matter much once we are all laid off. We will start some where else with a new salary. I'm just thankful for the extra $1000. I will add it to my layoff fund. Hopefully I find a job in the next 60 days so this will all be bonus money
And since your base salary is not increased....down the road your social security will reflect your old salary which affects your social security check when you retire.
If you get laid off you might get it back next year with your tax return.
And I was the one telling people it would be taxed at 40% between federal and state and was attacked saying I lie. Sorry, but I don't lie. Most of you will only receive about half after taxes and 401k.
Your leader doesn’t know if you claim 1 or 10 and doesn’t know what you contribute to 401 k. How can they figure up your net total. I greatly increased my 401k so that my money would remain mine in some capacity.
they're required to take taxes out. we were provided a sum that was post taxes.
Leaders were told to share that with you and if yours didn’t, I’m sorry.