Has anybody tried to do this?
8 replies (most recent on top)
Taking the severance in regular paychecks allows you to keep the medical plan active.
Lump sum can put you into another tax bracket. Some states like PA, lump sum or installments will not help the UE benefits today as the severance is part of the calculation. Back in 2008-09, double dipping did exist and some state governments got smart since then.
Why wouldn’t you take the lump sum? I got severance at a previous company, and lump sum let me double dip into unemployment while I was looking. Installments means you probably can’t collect UE.
It says in the handbook you are given an option for lump sum of regular checks
lump sum or normal paychecks for the time frame given. one time decision
Your paycheck just continues as usual for the specified number of weeks
there is no severance package, why installments?
I haven’t been laid off, but it would be nice to know for the possible future.