I just looked and my vacation payout was deposited today (Direct Deposit).
I thought it was going to take another week to get that payout though not complaining.
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Got mine a couple of days ago too, 280 hours....have been keeping my vaca loaded for the last couple of years in preparation for the layoffs
Tax wise it is better to take vacation time. If I had a regret it would be not taking more time off. I had my reasons
@3aai - my vacation was taxed at 22% for fed
I got my pay stub in the mail today for my vacation pay...…….yippee. Now for the severance...…….
Im interested, as well, regarding the tax deductions for vacation pay out.
I'm one who will be off the books in June. I've been contemplating taking/using my vacation time, or hold onto it and be paid out for it. My amount is minimal (96hrs) compared to others. By the looks of it, if it's being taxed the same as the VSP, I might as well use it....as I'll be paid more in the long run for it.
Got mine Friday. Wasn't expecting it, (300 hours). Hope the Granddaddy of all my checks comes on the 11th. But not expecting it till the 25th.
Yup, got my vaca pay on Friday as well. It looks like it was more than 22% taken out. Social Security/Medicare?
“However, I personally do not know ANYONE who never takes vacation beyond the personal days. You'd have to be insane to do that.”
I’ve been in a few groups where he old timers always thought best to keep maxed out in case of rif. Years ago after no more banking that meant hold onto half into the next year and use it before July then use half of that years in December so you’d always have 1- 1 1/2 of your allotment to get paid out. Today that could mean taking your vacations small and breaking them up so you never lost your incoming accrual but keep between 100% and the 150% cap.
Of course I also knew some old timers who would last year have been through all their vacation days and personal days by March and had no time left for the rest of the year. They seemed to get sick a lot around three day weekends bless their heart.
@2hcn Like former GTE employees, many former Alltel employees are still on legacy vacation plan and can get 5 weeks vacation a year after 15 years of service (grandfathered) , with 150% maximum accrued, it is possible to cash in 300 hours vacation time. Don’t forget every year there is 6 personal days too.
Truth if you get 5 weeks vacation, you can accrue up to 300 hours. And there are some former GTE people that may still have banked vacation as well. However, I personally do not know ANYONE who never takes vacation beyond the personal days. You'd have to be insane to do that.
Sorry should have say 16th of the first ten months. None in nov-dec
You get your allotment plus 50%. So if I get four weeks I can sit on six weeks forever.
Every 16th of the month they put two more days in my bucket. If my bucket is full it spills out and I still have six weeks but lost those potential new days.
The 50% carryover of 2018 and use by July of 2019 ended when they started doing accruals year ago.
"I call BS . You’re not allowed to carry over or accrue more than 50% if your current year allotment of vacation. So if you get three weeks vacation, in other words, 120 hours, then the max you can accrue is 180 hours. Vacation hours will stop accruing until you use some of your days. That’s how it is in corporate finance anyway."
And if you get 5 weeks vacation, as some long-timers do/did, you get 200 hours + 50% = 300 hours. So not necessarily BS! Plus some real oldies may have banked vacation as well which doesn't count against those limits
I call BS . You’re not allowed to carry over or accrue more than 50% if your current year allotment of vacation. So if you get three weeks vacation, in other words, 120 hours, then the max you can accrue is 180 hours. Vacation hours will stop accruing until you use some of your days. That’s how it is in corporate finance anyway.
@2vzr yea, and where did that get ya? ;-)
300 hours cha-ching! Have been non-stop working and climb up as a director in IT less than 4 years.
“240 hours...cha-Ching”. Wow. You must have absolutely no life if you got paid 6 weeks vacation. You will have plenty of time off now. Enjoy it. Bleed your heart !
240 hours. cha-ching.
Got mine (144 hours) last Friday.
I was Infosysed
workhistory.verizon.com
I got mine last week 12/28 so looks like they are doing them in batches possibly? Either by signed date or group?
Where can get their pay stub information? I tried the link in the FAQ and it didn’t work.
don't know why a 401k fact would be down voted.
Thanks for the heads up....wasn’t expecting it for another week.
Fed Tax at 22%
No 401k contributions are allowed for terminated employees.
Do taxes look normal or did they nail you with the supplemental rates. How about 401k contributions