Will you still get unemployment if you accept the severance?
8 replies (most recent on top)
@VuDH5jb-dvr While that is true in MA for a RIF, I;m not sure it will apply here. IF you lost your job, conditioned severance will not prevent you getting unemployment. But in this case, the conditions of the agreement may not matter, as there was no involuntary job loss so the process might stop there
But of course, worth a try anyway!
Depends on your state laws. Illinois considers severance pay as money you receive for work you did during the time you were employed. Since your severance pay is not considered income, it will not usually affect your unemployment benefits.
They have made it clear on the HR calls, the answer is NO. This is a volunteer program and not a RIF and Verizon will contest anyone that tries to collect unemployment. They indicated there is a code they use to indicate this, you can certainly try, but just know don't expect to collect unemployment.
In MA if the severance payment was given as a condition upon you signing an agreement with the company then you are immediately eligible for unemployment insurance payout. In this case since there are conditions involved such as you can’t work for Verizon and that you discharge legal claims that would make people eligible for UI. Hope that helps.
For a standard RIF/layoff, you can get unemployment. If you accept the buyout, it is unlikely that you'll get unemployment, since Verizon will send to your state the reason of your leaving as voluntary. This was said by HR on the call and if I remember correctly, on the FAQ as well. This is generally speaking as each state is different.
In Texas, you will have to wait till your severance payment expires. I was RID'd last December and was unable to collect unemployment until Sept 2 (35 weeks of pay). Gladly taking the money now...
Depends on your State
No.