I am being let go in Ohio and am going to receive 45 weeks of "severance"
It is my understanding that the "severance" will be paid in a lump sum. Am I correct in assuming that I can apply and receive unemployment compensation after declaring this lump sum on the first week and then applying after the waiting week? I am getting conflicting information. I do not want to risk losing unemployment. I am also hearing I need to wait 45 weeks then apply. Can someone clarify this? I am willing to pay for good legal advice.
1 answer | asked Dec 2, 2013 3:16 PM [EST] | applies to Ohio
Answers (1)
Here is an article that discusses how severance pay can affect your unemployment compensation benefits.
http://www.myemploymentlawyer.com/wiki/Severance-Pay-can-reduce-Ohio-Unemployment-Compensation-Benefits.htm
I believe that, if your employer states, in the severance agreement or an explanation of the payment, that the severance pay is allocated to your last day of employment, or earlier, as compensation for work and not as a payment to help transition you to new employment, then it will not interfere with your unemployment compensation benefits. Otherwise, there is a good chance that it will.
posted by Neil Klingshirn | Dec 3, 2013 09:34 AM [EST]
http://www.myemploymentlawyer.com/wiki/Severance-Pay-can-reduce-Ohio-Unemployment-Compensation-Benefits.htm
I believe that, if your employer states, in the severance agreement or an explanation of the payment, that the severance pay is allocated to your last day of employment, or earlier, as compensation for work and not as a payment to help transition you to new employment, then it will not interfere with your unemployment compensation benefits. Otherwise, there is a good chance that it will.
posted by Neil Klingshirn | Dec 3, 2013 09:34 AM [EST]
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