So, if you are offered VRP and decline it, and then get laid off anyway, is the only difference COBRA coverage? Do you still get 2 weeks per year of service? Are there any other differences or perqs to VRP?
TIA!
17 replies (most recent on top)
@ag one person indicated that they more than 2 weeks of pay years of service.
Make sure no resignation or retirement language in the agreement if you plan to make unemployment claim later
@bs it’s great that you were able to collect the unemployment money. I googled this “voluntary separation program and unemployment benefits”. Here is the answer worthy of consideration too.
Taking a Voluntary Separation Program (VSP) can affect unemployment benefits; you might be eligible if it's treated as a layoff (common in mass layoffs) but less likely if seen as a voluntary quit without "good cause," as states often deny benefits to those who quit unless a significant work issue forced them, like intolerable conditions or a contract breach, though severance pay can also delay or reduce benefits, so checking state rules and the agreement's wording (avoiding "resignation") is crucial.
@a9 I took a voluntary reduction package in my last job and was still able to collect unemployment until I found a new job. This is Colorado.
@aj look for the enterprise severance plan. That’s what you get if you are laid off. Same exact table as VRP
@af is it? I received the VRP details but did not see the details for non voluntary severance. Sorry, I'm very busy at the moment and don't have time to fish around IRIS for all of these details ..... I have found IRIS search capabilities are abysmal, so I have stopped bothering.
@ag , thank you!!
Yes, it's the same. 2 weeks of pay for each year of service. There are minimums depending on Band. The packages are very similar, biggest difference seems to be subsidized cobra rates.
@ae all this info is on IRIS dude…
@OP back to original question, do laid off workers also receive 2 weeks of severance per year of service as those who accept VRP? Any other differences? Thanks!
@ab, where was the reference to international money??
@a1 Just curious why you chose an international currency to make your point
I heard people said something about the unemployment benefits from your state government. If you accept the VRP offer, that means you voluntarily resign, then you are not eligible for the unemployment claims. You could if got laid off.
Anyone laid off after Sept 30 of the bonus year receives a prorated bonus.
but be prepared to be sc--wed
From what I understand, you still get your bonus.
I forgot to ask. Is the timing of layoffs going to coincide with annual bonuses? Is CIGNA really going to sc--w us and save a few sheckels by keeping annual bonuses for anyone that accepts the VRPs or gets laid off or will we still get those?
- Tx again!