Hello - I'm being laid off after 24 years with AT&T. Does the severance payment come as a Lump sum and can I draw Unemployment right after I leave AT&T? Thanks much
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Unemployment rules pertaining to severance pay vary by state. Try googling it to see how it impacts you. My lump sum will come as a single payment I think it’s the same across ATT.
You should definitely apply for unemployment and wait for a ruling. I will collect my severance pay in 2021 so It doesn’t throw me in a higher tax bracket. Good luck and remember there’s a reason for everything. Wishing you much success.
@hfi+18jIJUS2 - Not joking at all. You called your boss and left a message about returning your c-ap and they didn't call you back...um so what...You did what you had to do so move on. Leave the worthless c-ap you have in a box and if your boss or HR calls you in a month tell them how do you want me to send your garbage back. Problem solved.
Now to the real problem at hand coming here to get advice with something as important as how to handle your finances related to severance....Yes its a terrible idea coming here because it doesn't mean anything if its not from ATT or a person that represents the company in that capacity. The information is readily available so it needs to be reviewed very very carefully.
To the person who said reach out to HR - you’re joking right? I left the company 2 weeks ago and still can’t figure out how to return my equipment. Called my old boss, he won’t return my calls. Once you’re out don’t expect support. This is why people come here.
this is all laid out for you, very very clearly in the severance package documents. Read them closely
depends on the state. and you receive your lumpsum minus heavy taxed package.. good luck
I was laid off in August. I had the option of taking my severance as an immediate lump sum or to push it off until March 2021. I chose to push it off so I didn't end up the year with more than a year's salary which (combined with spouse's salary) would kick me into another tax bracket. I started receiving unemployment (after applying) immediately. At least in my state, they do not ask about severance payments, however, they do ask about pension.
Of course, your mileage my vary, and as the previous poster ( @cef+18jIJUS2 ) said, check with HR as AT&T has about 100 different plans.
Why ask on this forum? Ask HR. Look in insider. Look in elink. The information is there.