can we collect unemployment if we receive severance?
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NYS website has a lot of info.
Q: How will dismissal or severance pay affect my Unemployment Insurance Benefits?
A: You may eligible to collect benefits under the following conditions:
The weekly amount of dismissal/severance pay is less than the maximum weekly benefit rate
OR
The initial severance payment is made more than 30 days after the last day of your employment
OR
The dismissal/severance pay is stopped
AND
You have enough earnings in the base period to establish a claim.
You must notify the TCC if you receive or will receive dismissal severance pay. Failure to do so could result in an overpayment of benefits and other penalties.
As I understand it, even if you get a lump sum, they still look at the weekly amount you are getting and you can't submit a claim until that money runs out. So if you got 20 weeks of severance pay (even if delivered in lump sum), you can't submit a claim until your notice period runs out AND your severance pay runs out.
in NY State, the severance payout (lump sum) may prevent collecting unemployment insurance (UI) for a period of time. (that is equal to the time amount of severance).
So if you received a 1 week severance, your start of UI is delayed by 1 wk.
1mo, 1mo, and so on.
I work in fab8 but used to work for dept of labor/unemployment in a previous life. As long as you are receiving payments with the condition that the payments stop if you get a job somewhere else, New York considers you employed and will not be eligible for payments. You will have to wait until the 90 days (i believe someone said) is up. Good luck to all involved, I have been there myself, it s---s but everything will work out in the end.
NYS Dept of Labor eligibility vary per severance package offered. Important to read this AND the documents you sign when you separate from Globalfoundries. Take the time to read all, despite the tedious nature of this. Knowledge is power. Receive 100% of what is legally $$$ earned/deserved. Blessings. https://www.labor.ny.gov/formsdocs/factsheets/pdfs/p825.pdf
Depends on what state you live in. You need to contact your local unemployment department and ask them. Most states list a severance package as part of your final paycheck and allow you to collect right away (minus the one week waiting period, if any).
you cannot collect unemployment until you receive the final severance/separation check. During the 90 days you are still a full employed member of Globalfoundries,l.
you can collect unemployment after the 90d notice period, not before then. So starting in late Nov/early December.