About time to be pushed out when I’ve been too silly not to leave already all by myself. At least I would stop constantly thinking it through with my judgement being clouded by fear and anxiety. I do feel for people who really need this job. I do too, but I just can’t stand it anymore, and I’m past any real reason to hold on to the job I despise and have no future with. There surely are other options.
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@1KA at 10 years employment you would get 20 weeks sub pay. They round up so if you are in your 10th year currently they would say 11 and you would get 22 weeks pay
Not sure if we are debating FicaMed deductions or not, but if we are, then this is straight from the official materials.
"Separation payments are considered SUB Plan payments when they meet the eligibility requirements described in the SUB Plan, that allow them to be made without deducting Social Security and Medicare taxes."
However YMMV or perhaps it varies depending on state or some other factor...
Agreed that the rest of the taxes are deducted.
FYI
SUB pay is taxable. Please do not spread incorrect information
SUB pay is paid for the duration as if one is employed. No benefits (like 401k , Life Insurance , Short Term Disability , Vacation time). One pay check every two weeks with SS, Medicare , Fed State, Local and guess what incl Unemployment (State) premium
They come with some restrictions but unemployment eligible
Severance is paid as a lump sum. One check - no strings attached like SUB. And it is actually cutting the cord. One is free agent to find another gig.
In US they paid as SUB - In India folks walked away with a Huuuuge check (more or less paid off their house) :)
@2hsj+1vFmiTZI: Some inaccuracies or typos in what you stated. Generally 2 weeks per year of service. Minimum # weeks based upon grade level (L, M, S etc). SubPay IS taxed, except FicaMed payments are not deducted.
Severance, actually called SUB pay which is different, is 1 week for every 2 weeks of service. There is a minimum amount, I think 6 or 12 weeks, but there is also a way to work around that for below achievers (or being rated that way even if you are not).
Severance would be taxed like normal pay; SUB pay, aka Supplemental Unemployment Benefit, is generally untaxed and unreduced other than health care coverage and some other things.
Folks released for RTO non-compliance reasons are subject to getting nothing at all, so don't be that person.
Volunteer then instead of watching someone else get let go who doesn't want to leave or doesnt deserve to be let go. Such selfish, annoying trash that works here
What kind of severance would someone with 10 years service generally get in the US? Like how many months salary?
Do me.
Please.
ki-l me now. I am just here for the check and even that isnt worth it any more
Can’t leave on our own without something else lined up because we need the money. Might to insane waiting for a layoff and severance to help us survive a few mere months being unemployed which may never come
Amen please lay me off already!
Mass layoffs would also mean notice period (3 months in NYC) and severance