According to the Related Link below, severance pay will not affect your unemployment benefits.
Yes, you not only can receive both, but the severance pay is not deducted from your benefits.
In my case, I was allowed 6 months of pay. Then Minnesota is going to take 50% of that pay for state taxes. The rate is higher because its a severance that is paid in one lump sum. When you accept severance pay, you have to wait until the pay has run out (6 months in my case), before you can apply for unemployment insurance. -Minnesota
: I found out part of this answer...if you file before your severance is fully paid out, you risk having unemployment not give you benefits for those weeks. Additionally, those weeks will be 'wasted'since a claim begins on the week filing takes place. Also important, if you are awarded from unemployment say, $12,000 and you filed before severance is complete, they will reduce your benefit amount by the amount of your severance. For instance, if you're getting $3,000 in severance, unemployment will reduce your total claim to $9,000. : However, some employers' severance is not considered as such by unemployment...there is an investigation and it may be determined that these wages are not technically severance after all. The above info was obtained by an unemployment representative. This same answer was posted by me in the discussion area as well...it would be interesting to see any other information on this subject.
Yes you can, but they may deduct your social security to offset the unemployment.
Yes.
I did. I received lump sum severance and collected unemployment in NYC. Of course, the regular one week waiting period for unemployment still goes so make sure to apply immediately. Actually, if you think about it, a lump sum payment is really part of your compensation package, so as long you don't keep receiving a paycheck after that, then why shouldn't you be entitled to unemployment like everyone else? I imagine it would be different if you cotinue to receive a paycheck every week for a specified amount of time after you were let go though...
Yes, you can collect both severance pay and Unemployment IF the severance pay is not considered an extension of your employment, under the terms of the severance agreement. For more information on the subject, see the Related Link below.
Yes, you can collect both. According to the Missouri Department of Labor and Industrial Relations, neither severance pay nor Social Security benefits reduce your unemployment compensation.
In most cases it will, and then generally only in the same week you receive both it and the unemployment benefit. As each state has their own codes regarding this, it's best to contact your own state's employment security office.
It depends on the circumstances and the laws in your state covering same.
You can draw from the various retirement plans and unemployment, but if you mean you're going to retire, that would violate the conditions of having to constantly seek full time employment and would make you ineligible.