What did they ask you to return? Did they send you any packing materials? How soon does it have to be back?
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Concerning the severance pay, it will be subject to a Federal tax withholding of 22% as it is classified as 'Supplemental Income'. If one were looking to reduce the tax impact of this payment for 2019 you may wish to consider submitting your signed Severance Agreement late in December (but still within the 45 day window for acceptance). It will take two weeks for HR to process the Severance Agreement and payments are made on a regular pay date.
Wow, one check for severance? That get the hell taxed out of it in lump sum. They should at least pay you every two weeks like they do now until your severance is depleted. How about our stock and 401K, can we just leave it with Fidelity?
I'm depressed....
You are only required to return anything with an asset tag. I kept my shredder, head set, keyboard and mouse and they only sent boxes for my lap top, monitor & printer since those have asset tags. Also, my severance was paid out the following pay date after my lay off date & I never returned my internet router, so the statement above isn't true (about them withholding your severance unless you return the router). I'll return it on my own time when I'm good and ready.
I never received a pay stub for my final paycheck though. I did receive 3 others.... my severance, my stock payback & my expense reimbursement. Not sure what happened with my final paycheck stub though.
Thank you Batman. BTW, You are my favorite superhero 😘
The place is run by accountants not Psychologists and Therapists. Most people will get depressed after suffering through this. The HR people are mean spirited and nasty. They process us like sickly cattle. So the natural response is to take the EAP. Not so fast. Go to a private therapist who respects your privacy and dignity. The counseling vendor will report back to UNH if you turn down a job offer for a crummy employer. Then you will get a letter that your unemployment is cut or worse. You could get a letter that you lied to the state and you have to pay the unemployment back. Make no mistake. This is adversarial. It doesn’t have to be. But they insist on doing it this way. That severance agreement is so airtight, you have no rights after signing. Think carefully at every step. Good Luck! You will find much better. Don’t allow this to Break You. Move Forward. They can keep their Mood Elevator.
Yelp, Batman is correct! Thumbs up from me.
Batman, what do you mean when you say think hard before taking the EAP and job counseling?
Like another person already mentioned be very careful with this process. When I was laid off, I was told by my manager that the two flat-panel monitors were ours to keep. In addition, in the paperwork/instructions and packing materials they will send you, nothing is mentioned about returning any monitors and no box was provided for the monitors. However, despite following the included instructions EXACTLY, we all then received a call weeks after the other items were returned asking if we had any other equipment that had not been returned. At that point, they then sent additional boxes for each of the monitors. If we had initially followed what we were told by our manager or followed the instructions and assumed those were ours to keep or get rid of, we would have been screwed. So, my advice is to save ALL equipment (even for months if you have to) as you might get a call later on asking for it. Very poor planning by UHG for these layoffs...
Thanks, Batman. My keyboard is so old that half the letters have been rubbed off so it’s not like I want to keep it, but I wondered if they might. My letter is coming soon. Guess I’ll start packing.
Be very careful with this requirement. Go to the UPS store and get signed receipts for everything and itemize. UNH wants the router returned to the cable company. They get charged for the router. Get a signed receipt. Return of all of their merchandise is a condition in the severance. You won’t get a check until they receive this . Get signatures for everything. Pack with lots of styrofoam. Call to make sure that it was received. Good Luck! Think hard before taking the EAP and the job counseling. The job counselors don’t work for you.