September 3 Paycheck

I was part of the IRIF and according to the HR service center the 9/3 pay check contains my vacation payout, 2nd quarter bonus, last regular pay, AND my severance payout. I thought the severance payout would come in a separate payment. The rep was able to give me the dollar amount for each of the items that were being paid out and the total net amount being deposited into my account. Damn those taxes!!! Just FYI.

What part of 25% dont you understand???

OP is correct - just got off phone we get another two weeks pay, severance, target bonus and all vacation pay out. Not counting our value shares that will add another big kick in the bucket. Oravwa- GSK and good riddence.......

I wish it were only 25%. I am grossing about 32k and netting about 19k all inclusive of last pay period, bonus, vacation and severance. Taxes appear to be about 40%. I understand the high tax rate on the bonus and severance but will be interested to see if it was all taxed that high. will have to wait for the pay stub to see. not that I will be able to do anything at this point but i find it interesting that we were told severance and vacation would be in a separate check. who knows maybe they are and i will get 3 different stubs.

Nope it is in all in one check. Look at the bright side---you will probably get a nice refund next year.

If anyone is interested - you can change your withholding info for that last big check. In a previous job, we were paid large quarterly bonuses, on top of weekly commissions (those were the days...). Anyway, in anticipation of the quarterly bonus, we would all change our tax filing status so that the minimum amount of taxes was taken out, then change it back before the next pay period. If you think you might be part of the vaccines RIF, which is going to be BIG, look into it and prepare.

Originally Posted by Anonymous

Nope it is in all in one check. Look at the bright side---you will probably get a nice refund next year.

NO, the severance will be in a separate check. Enjoy the sheckles!

Just got my pay stub. It has everything on it. Vacation pay, last week of work pay, bonus and severance. 30% went to taxes.

Remember abt8% FICA for under 106K earnings and last contribution to 401 from paycheck.

Look carefully at your breakout or call them and ask them about your breakout. I called today and instead of 21 vacation day pay they gave me 21 hours. The idiot who checked me out....must have done that. They should fix it before the next paycheck.

Ouch! 44% of my paycheck went to taxes! I knew 25% was too good to be true.

No way did 44% go to taxes!!!! Take a look again---401k deduction etc.

I didn't think 401k was still being deducted. I just got the gross and net from the FRC, no pay stub yet so I'm not sure how things were broken down. I do know that I didn't have benefits or car deducted and it still added up to 44% of my paycheck was gone after taxes. I do count myself fortunate, however, to be given a severance so I will do my best to not whine and count my blessings