Unemployment after getting a severance package?

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you don't tell the employment people you have gotten a severence package. All they need to know is you are no longer employed and have no income. As far as them asking if there was a severance package, just say no. I have never heard of them asking.
 


depends on your state and how your severance is worded. i don't think you can lie b/c i believe your company will be contacted regarded your application for unemployment -- not sure though. see if there is a website that talks about criteria, and know that in some states even if you are receiving severance you still can qualify for unemployment.
 


to get unemployment you file an application and they contact your employer. Your employer will tell them how much your severance is/was. The state will then determine how long you can live off that and when that time frame is up you can get unemployment. Some companies do not disclose severace some do. Good Luck, but I wouldn't lie. I had a friend that did and they audited him 2 1/2 years later and he owed $ and they tacked on interest at 18% from the begining. It was crappy and not worth it he said.
 


It depends on the state and they way your severance is handled. At least in FL, it does not have anything to do with them determining how long you can live off the money. I was let go, received a year's salary, and was eligibile for unemployment immediately after the state's required minimum waiting period (I think it was 2 weeks.)

Like other posters said - the state will check with you prior employer (because they have the right to approve or protest your application for unemployment.) So trying to hide what you got probably won't get you very far.
 




sign up for unemployment right away, do not delay. most states you can do this online. you will be asked your last day of employment and depending on your state if you received a severance and the length of your severance.

my state contacted my prior employer to verify that my loss of employment was to no fault of my own (ie, getting fired vs. laid off) and if i received severance and for how long.

my unemployment began after my severance was scheduled to expire. in order to collect unemployment my state made me verify that i was actively searching for employment by calling in to an automated phone system each week that said press 1 if you are actively searching for employment. that was all that was required and you received a check 2 days later. in 6 months i never once spoke to a live person.
 




Of course you can get unemployment after your severance package runs out.

I was a big risk taker (I'm single so I can do it) and went to Europe for 3 and half weeks during my severance and spent a hell of a lot of money. My severance was for three months, but luckily 3 days before my severance ran out, I landed a new job. I had to sell my house and move to another state though, but I was ready for a change. Otherwise, I would have gone on unemployment.
 


For those that have never been on unemployment, please be aware that it is a little extra money to help you get through, but is in no way going to be even close to what you made while you were employed.

Most people are mistaken if they think they are going to going to be able to live on unemployment alone.

Unemployment benefits vary by state, and somewhat by the salary you made. However, they are usually capped off at one top-level, regardless of what you made.

For instance, I live in FL, and was making almost $100K base, and about another $35K+in bonuses. I qualified for the highest level of unemployment pay the state allowed, which was capped at approximately $267 per week. After taxes, the amount was even lower.

I was able to collect unemployment even with a severance, because the severance was lump-sum. I did go ahead and file, even though I knew the benefits were so miniscule because after 16 years with the company (job lost in merger), I did feel I was entitled, and even though I didn't need it to live on, who am I to pass up an extra $200~ per week?

The low benefit payout are also cause to think if you are ever faced with the choice of being terminated (probably eligible for unemployment) or being allowed to resign (probably not eligible). Many people think "No way am I quitting - I'm going to make them pay my unemployment." However, in the grand scheme of things, the few extra dollars per month is not worth having the black-mark on your work history. Would much rather say I resigned than was fired.
 


If the severance is paid out as a lump sum rather than a continued paycheck for a specified period of time, you can file right away, as I understand it.

Many times when layoffs are happening, the employer will make a blanket comment stating "We will not interfere with you collecting unemployment". If I were you, I would just *69 HR and ask what their policy is.

Good luck. Been there, done that. Better doors will be opening soon!
 


Anonymous said:
Anyone know how to qualify for unemployment if a severance package was accepted?
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There is nothing magic to it.

Apply and tell the truth. The Employment office will do the rest.

Typically if you were laid off, the only money that delays your unemployment will be your WARN money. That is the money they pay (60 days worth) when they do a massive lay off.

After that 60 days your benefits will start.

If you receiving a pension, I think you will be ineligible.

Start looking right away. I was laid off, and out of work for quite a while. The job market is tough.
 


Anonymous said:
There is nothing magic to it.

Apply and tell the truth. The Employment office will do the rest.

Typically if you were laid off, the only money that delays your unemployment will be your WARN money. That is the money they pay (60 days worth) when they do a massive lay off.

After that 60 days your benefits will start.

If you receiving a pension, I think you will be ineligible.

Start looking right away. I was laid off, and out of work for quite a while. The job market is tough.
Click to expand...

If you live in Texas you can receive unemployment while you are receiving severance. It does depend on the wording of your severance agreement though. There is a statement that can be added by employers to try to avoid paying -- i think it is something about payment if lieu of -- not sure. If standard severance wording then you do qualify
 


Call your state unemployment office. Each state is slightly different. In some unemployment starts the day you are let go regardless of severance. As stated pay depends on past pay and number of dependents. IT IS LOW. Also do not have them take out taxes. You are only getting money for 26 weeks and you can always square up at tax time. You are entitled to unemployment, so collect it.
 


research it online and file immediately. many states have mandatory waiting periods in hopes you find a job while you are waiting and not receiving benefits. the waiting period begins the day you file not the day you were laid off. i've learned this the hard way...file immediately!
 


I was just told my position was elimated and my areas would be reporting to another Director-given a severence- was told I could apply for unemployment- will absolutely have a job ( already have 2 offers) by the time my severence runs out ( 4 months) can I also get unemployemnt now? I live in Calif
 


Anonymous said:
I was just told my position was elimated and my areas would be reporting to another Director-given a severence- was told I could apply for unemployment- will absolutely have a job ( already have 2 offers) by the time my severence runs out ( 4 months) can I also get unemployemnt now? I live in Calif
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Probably not, most states require a "sit out" period when benefits are not paid.
 


They absolutely DO ask and if you do not disclose it can be grounds to be denied benefits. I was let go with a sverance package on March 17th this year and will not be eligble to receive benefits until may 3rd because of severance. I am on here trying to find out if they will back date or will it just start from May 3rd. Do file immediately though and just disclose your severance package.
 


Wow, lots of false information here...

In CA, severance packages have absolutely nothing to do with being eligible or not for unemployment benefits.

From CA's EDD website:

How does severance pay affect my eligibility to receive unemployment insurance benefits?

Severance pay is not deducted from unemployment insurance benefits and does not affect your eligibility to receive benefits. The method of payment, such as a lump sum payment or payments paid to you at regular pay period intervals does not change the nature of the payment. However, you must report severance pay at the time you file your unemployment insurance claim.
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Please folks, if you dont know the exact answer, then don't answer at all...
 





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