Anyone from 2/18 layoffs having issues getting unemployment in NY because they received lump sum payment?
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For those applying for unemployment.
I went through February layoff from BNY. I applied for Unemployment Compensation two weeks after I was asked to leave BNY (no reason why I waited). As a side, I did not agree to nor sign the BNY separation agreement.
My unemployment compensation was stuck in an infinite loop of "under review" with my state.
Here's what happened:
I had three conversations (2 by phone and 1 by email) with my state unemployment office. I was told by my state office, BNY uses an automated system to verify the employment / separation status of their employees. For eight weeks my state office related to me that BNY still had me listed as a current employee. This confused my unemployment reps since I did forward a copy of my BNY separation notice to them.
Ultimately a manager in my states office overrode the required employer verification and I then began collecting this insurance. My customer care reps at the unemployment office thought this entire event was absurd.
There's a chance that I and you may still be in the BNY roster as current employees.
Post from TheLayoff.com
Post from TheLayoff.com
Taxes are withheld from the payment. RSU original vesting schedule remains in place.
What happens to the RSUs ? Do they encash it right away or is the original vesting schedule going to be remain in place ?
With the lump sum severance do they take all the taxes out up front.
My claim has not been approved or denied, so I continue to certify weekly.
The state stated that they could not verify me/I went and verified 3 times after that I gave up
For NY, you will be denied until the equivalent number of weeks have passed. For example, if you received 20 weeks of severance you will have to reapply for unemployment in 20 weeks if you still do not have a job.