Now it’s a severance meaning a one time lump payment fully taxed and we don’t qualify for unemployment. Sc--wed us again!
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sub is NOT taxed; the folks saying it is are either trolls or simply don't know what they are talking about; my significant other and others got it after decades of service and it wasn't taxed; looking at the pay stubs confirmed that. None of that matters now, soon, but the persons saying it is are clueless.
Severance though is NOT SUB though and they even make that distinction in the documents you have no choice but to sign. Severance will be fully taxed based on IRS rules on the two.
Sub is taxed so no change there. When RIF'd they made a big deal about not calling it severance and make sure you refer to it as SUB or you will not get unemployment. Check it carefully.
Do your research. Unless there is a state specific law, there is nothing indicating this makes you ineligible for unemployment. Literally almost every other company pays severance this way
I do not know why the claim is being made that SUB is tax free. NO IT IS NOT - in US.
I am looking at the pay stubs of the person who was on SUB - my spouse's - wondering whether we overpaid taxes.
The SUB pay is 100% taxable.
They withheld EVERY TAX item - Federal , FICA ,Medicare, State and funnily State Unemployment Insurance, Workers Comp too. They also deducted the Supplemental Insurance coverage and added the Life Insurance they covered over 50k.
It is just like a regular pay check without ESPP, 401(k).
Are we still have "Sub" based on the new plan documents?
@ae+1jj5azx7n Did you read the new plan documents? It’s a one time payment.
@OP, severance has nothing to do with whether it's a single lump sum or payments over time.
Well, we’ve all been wondering what they were gonna take from us this year… You knew it would be something……
I haven’t read the email yet, but does it cap at a certain number of weeks I’m assuming? Therefore, tenured employees that have been sticking it out for the security the old plan provided will be looking to leave…..
This place is so dang toxic.
Can’t wait to hear in the next hall, how great they claim the culture is and how great the coffee is
I truly don’t know how people like Robin sleep at night- terrible people
@a2+1jj5azx7n - its in the important benefits email. Last bullet under "what you need to know". F***ed again!
YES, the OLD SUB was tax free, because Supplemental Unemployment Benefits are a different section of the internal revenue code, so it was not-taxed.
I missed that there was a NEW one.. I need to go find it.. I didn't see any announcements.
Was the old SUB tax free? And what makes you think we don’t qualify for unemployment?