Forget all the - you shouldn't do it and that the handbook states UP TO 60 days.
How long did it take for those who requested the lump sum to receive it? Was it a week, the full 60 days, etc? Did it show up late in the day like the final paycheck?
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@qg it is if they need them. not everyone does.
Isn't benefits coverage reason enough?
@nf I do not know why people insist on keeping it biweekly, except potentially tax reasons or benefit coverage reasons. Insurance benefits remain intact as long as you continue the biweekly payments. If you choose the lump sum, benefit coverage continues through the end of the month the lump sum is paid.
I see everyone saying not to take the lump sum. Is that for tax reasons or are there other reasons? Legit question. Also, how does the insurance piece work? I've basically been told that I'm probably on a list to get cut next year.
@he thank you!
I spent 10 weeks on the bi-weekly severance schedule before requesting my lump sum. Once I sent the paper in, I received my next scheduled regular severance payment, then two weeks later (on what would have been the next severance payment) I received my lump sum. I imagine wherever you’re at in the payroll cycle can make an impact but I’d guess it takes 1-3 paychecks
@fa
Thank you. I may soon be there.
@f7 OP here. Yes, unused PTO is paid. I received an off cycle check with wages and PTO earned on my last day of my 60 day notice (which was a Friday between our normal paydays). This was all wages earned and PTO accrued up until that point. That also meant I didn’t receive my next check for 3 weeks, and it then went back to the normal biweekly payments - assuming biweekly severance of course.
I would not recommend it
@a2+1jxmjab86
So your unused PTO was paid?
You shouldn't do it.
j/k
I expect as long as the paper work says it will.
I did the bi-weekly like a normal person after taking 2-3 days to complete the required paperwork. Nothing changed and all of my bi-weekly deposits hit like normal. The last deposit included my vacation time. Zero issues.
If you’re not an id--t and can follow the basic instructions you’ll get your money.