You only receive severance if you stay to the end. Unless you were already let go.
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What's the additional lump sum for medical? ECMCs portion for 6 weeks?
Zenith employees will receive three months severance pay, one full year of paid health insurance, and a pony! Yah!
Better hope you find a job that offers health insurance, you're gonna be in for a big surprise if not. Individual premiums at $900 and family plans starting at $1500 per month with $10000 - $15000 deductibles.
The first RIF in 2015 we got paid for 60 days as per the Warn Act and 2 weeks severance pay. The severance was taxed at 35%.
It's different depending on your title and longevity. Their plan does state that you receive 2 weeks for every year you are employed, but since Zenith is only 2 years old that maxes out at 4 weeks. They have given more to people though as I said above. It's also confidential.
you get taxed at a higher rate with that lump sum so don't expect to net your typical amount
Laid off employees will continue to receive regular pay for 60 days. At that time a lump sum of 6 weeks will be paid along with an additional lump sum payment if you were enrolled in employer health plans.
None of your business