If I get a severance payment from Fidelity, can I still apply for Unemployment Benefits with the State? Any suggestion would be helpful.
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You can get unemployment if you signed what's called a "release of claims". That's a document that states you won't sue your employer once you leave. If you sign a release of claims you can still get UI. If you do not sign one of these documents you will not qualify for UI. I know because I took a severance package this spring and went through the UI process myself.
Heard last day will be Jul 31 and swverance starts in Aug. Does that mean 2 months as per warn starts in aug. If that the case I will get cloae to 3 mo. I guess thata an okay runway till I find something
@tik - you'll get 60 days per WARN notice and 2 weeks per year of service
I am worried as well. Been with the firm for about 1.5 years. It would be horrible to geg only 2 weeks of severance. Will they nof give a min like 2 months
The packages I've saw are all 2 weeks pay for every year you was an employee.
What does Fid usually pay out for severence?
It depends on the state that you are in and their unemployment laws. In Kentucky, you are able to receive Unemployment while you are collecting your severance.
You should be good here. You can apply and they will count your severance as wages. So, let's say you got X weeks of pay as a severance and you stopped working on Jan 1st, they would accept your application but you'd be elegible to receive unemployment only after Jan 1st PLUS X weeks. So, apply yes, accept application yes, but payment only after Date+Severance-Coverage
I hope this makes sense
Source: Wife was in a similar situation in California in 2014