Any legal advice on why my severance package doesn't payout the full 2024 STI and only a 30 day notice for Ashburn VA office?
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I believe it's because you are receiving your full 26 paychecks and are therefore considered to have been employed for the entire year. So you'll get your STI in March, like every other employee who worked the whole year.
@ae unless they made special provisions in the severance package, yes it would be prorated if you were not here the whole year (either hired in or out on leave for more than 8 weeks).
What if you only worked part of the year? I joined the company only a few months ago. Is the bonus prorated?
@ab It's only paid out immediately IF the RIF occurs before December. And those are paid at 75%. You are actually making out much better, but you do have to wait for it.
You have to read the fine print below the table about STI. It says STI 2025 earned 0 in the math, but below it says it will be paid out in full, subject to the usual company performance modifications at the usual date.
Previous RIFs they paid it out in full immediately IIRC, or maybe I'm just thinking of the VSP offer letter. Spreading it over two calendar years may work out better for tax purposes TBH, but not sure how it would impact unemployment.
Wasn't HR involved in the process? There has to be a number to call to answer this.
@a4 who said anything about them withholding it?
Unless you live in a state with additional WARN protections (like NJ or CA), the federal notification is 60 days and VZ gives 30. They get around this either by staying under the threshold of people impacted or by paying severance. Since the minimum severance is 4 weeks and they give you 30 days notice, they meet the 60 days. And yes, you will get your STI in March.
They can't possibly withhold sti earned in 2025. Right?!
STI is paid in March with everyone else.
Mine isn’t showing any STI either