Is it just paid out as a lump sum? How does it work?
8 replies (most recent on top)
I heard we weren't getting a package? So we are? (people are getting laid off tonight, and I'm likely to go)
That’s why the government requires WARN notifications…its a courtesy to let them know they are about to receive a lot of income tax.
Also be careful for next year, the lump sum, even with supplemental might throw you up a bracket so you owe next year.
I got my last paycheck, and then in the next pay cycle I got the lump sum minus a metric ton of taxes. You need to go sign up for the cobra and ask about your SERMA if you get that,
@a6 it's the downvote troll that wastes his life here clicking buttons. Ratings are not reliable here because this wingnut hasn't taken his meds.
@a3 What is wrong with this site? Somebody asks a question, somebody else answers it, and people are downvoting the question and the answer?
If you're an executive, you get the option of taking a lump sum or taking it in installments. If you're not an executive, you get a lump sum. It's taxes at the supplemental rate (i.e. like a bonus) so you'll see a huge chunk of it go to taxes.
@OP lump sum