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If you receive severance pay from a former employer, you may actually end up in a pretty good place financially. Many severance packages pay 50% to 100% of wages for a specified time period, and if...
This payment is known as a severance package. In some states, receiving a severance package disqualifies you for unemployment benefits. Other states will give you benefits only after the severance ...
To help dull the pain of a layoff, many employers offer severance packages to workers. There’s often no legal requirement for companies to offer these parting gifts, but they serve a couple of ...
Packages are most typically offered for employees who are laid off or retire. Severance pay was instituted to help protect the newly unemployed. Sometimes, they may be offered for those who either resign, regardless of the circumstances, or are fired. Policies for severance packages are often found in a company's employee handbook.
Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
Employees entitled to notice under the WARN Act include managers and supervisors, hourly wage, and salaried workers. The WARN Act requires that notice also be given to employees' representatives (e.g., a labor union), the local chief elected official (e.g. the mayor), and the state dislocated worker unit. The advance notice is intended to give ...
That said, under the so-called federal WARN Act, companies with 100 or more employees that are planning a mass layoff, which is very specifically defined here, must provide staff with at least 60 ...
Among the types of benefits which a VEBA may provide are accident insurance benefits, childcare costs, employee continuing education, the cost of legal services, life insurance benefits, severance pay, supplemental unemployment benefits, sick leave pay, training benefits, and vacation pay.