Might as well use them up if getting laid off for certain
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No accrued sick leave payouy for excempt employees. For overtime eligible non-exempt it is 50% of the accrued sick days.
Note, accrued vacation and sick leave, if applicable will be included along the espp refund in your final paycheck and will be hand delivered on your last day. Severance will be direct deposited after 35 days.
I left i in 2017 with a package and sick days didn't factor in at all. At least not for full time employees. It is possible they do for part-time folks.
Yes, save up as much vacation days as possible. You should already be doing this over the last 1 years or so and running it near the 2 X limit because they will pay all of it. It is your $.
Man, I am so glad I left and not back there. Reading these posts are quiet disheartening.
And unemployment, max is $450 a week but is federally taxed.
Bottom line .. don’t use sick hours .. instead use WFH ( work for home )
People who took package in 2015 were paid for some unused sick days .. don’t know the exact details ..
Yes 43k is correct after tax .. but we will get back something ( say 4K ) when we file taxes in 2019 as it is considered w2 income ...
People who got package in 2015 were paid for some unused sick hours also .. I don’t know the exact details
31 weeks is correct approximately.. yes about 43k after tax .. but the package is considered as w2 income and we can get back some portion of it when we file taxes next year ..
Sick leave is paid at 50% of unused hours.
I don’t think we get paid for sick days. Just vacation. Oh yeah, the 40% by Uncle Sam would really s**k !!! So let’s say a Staff Engineer making $120K gets laid off and has been there for 10 years with 3 weeks accrued vacation would get 20 weeks + 8 week severance + 3 weeks vac = 31 weeks
would get around $43K total “send off” package after taxes ? Is that correct ?
I was thinking unused sick leave and accumulated vacation will be paid along with the package .. severance + two weeks times number of years + vacation + unused sick leave .. deduct 40% for Uncle Sam