Of those laid off...who has done the lump sum payout? It says on the form it could take 60 days from when they get the form. Has it taken the full 60 days or is it processed much quicker than that?
18 replies (most recent on top)
"find another job and get paid more money at the same time"
That's not a realistic expectation in the current market. If you disagree, try searching and applying. You don't even have to accept.
Prediction: You won't even get an interview, assuming you can even find a job to apply for.
Heck no, I'm going to make those clowns cut me a severance check every 2 weeks until WELL into next year. 🤣
It took me about 1 month. 2 months is SLA but won’t take 2 full months.
If you were a manager in N. California laid off in May, what would be the timeline for a last check, final health care, and final payout if any?
So you think all the lay offs in the bank are non performers. Ignorance runs wild here.
“ I don’t wonder why half of you got laid off for being 1s and 2s.”
Says the fool who got laid off
Payroll is giving out lump sum blumpkins
The question was not if you think I should do it. The question is/was…if someone here did it…how long did it take to process and pay out. Seriously people…I don’t wonder why half of you got laid off for being 1s and 2s.
The 60 day nonworking period puts you into January. You won’t get your lump sum until then. It will not impact your 2023 taxes. Good grief people.
"Lump sum is the only option now."
I call B.S. Where is the info coming from . EB book?
Lump sum is the only option now.
everyone's situation is different especially when it comes to taxes. would i take a lump sum at the end of the year? probably not especially if it puts me into a higher bracket, otherwise I would especially if I had healthcare through a spouse. they may take out 35% at that time, but you'll get some of that that back come tax time.
Lump Sum and take a month off or so and find another job and get paid more money at the same time.
Take the lump sum only if forced. There is no downside to salary continuation except you wont have a big chunk of money to blow.
Might put you in higher tax bracket but also could reduce debt with lump sum and save on interest. Not an easy decision
I want the lump sum, I can get benefits from my spouse. Cut all ties with this dump!
Why would you want to do that, it would be a big tax burden and they will take out at a higher rate and then you lose all your benefits etc.