Wednesday, July 12, 2017

SEVERANCE PAY AND UNEMPLOYMENT INSURANCE



From the DOL website:

"Q: How will dismissal or severance pay affect my Unemployment Insurance Benefits?

A: You may eligible to collect benefits under the following conditions: The weekly amount of dismissal/severance pay is less than the maximum weekly benefit rate


OR


The initial severance payment is made more than 30 days after the last day of your employment 


OR


The dismissal/severance pay is stopped


AND


You have enough earnings in the base period to establish a claim.


You must notify the TCC if you receive or will receive dismissal severance pay.  Failure to do so could result in an overpayment of benefits and other penalties. "

For more information, see https://labor.ny.gov/formsdocs/factsheets/pdfs/p825.pdf

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