When we got severance - sm Posted: Sep 18th, 2017 - 5:17 pm In Reply to: I'm waiting for the "We Blew it " email that screws - everyone out of severance
a few surprises:
it was not lump sum. It was divided as hours paid over the time it would have been paid. for example, I got 10 weeks of pay, over 10 weeks beyond my last day.
Also, it was taxed at 25% by federal guidelines, + state + Social Security and Medicare. Almost 40% of it went somewhere other than my bank account, directly. It came in handy at tax time, as I didn't owe anything, and actually got a refund.
We were hourly. I do not know how this information corresponds to your situation or if it does. Just offering.
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