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Lump Sum Severance Package question

Posted on 10/7/16 at 12:01 pm
Posted by astonvilla
New Jersey
Member since Dec 2005
3122 posts
Posted on 10/7/16 at 12:01 pm
are health insurance premiums and 401k payments deducted from the lump sump severance package. I know taxes will be removed but wasn't sure about premiums and 401k.thanks
Posted by Tactical Insertion
Member since Feb 2011
3205 posts
Posted on 10/7/16 at 12:02 pm to
Tits or GTFO
Posted by astonvilla
New Jersey
Member since Dec 2005
3122 posts
Posted on 10/7/16 at 12:02 pm to
???
Posted by East Coast Band
Member since Nov 2010
62773 posts
Posted on 10/7/16 at 12:04 pm to
401k yes
Health insurance no

I think health insurance is you pay whatever set rate per month, not based on %of pay.
401k is based on % of pay.
Posted by astonvilla
New Jersey
Member since Dec 2005
3122 posts
Posted on 10/7/16 at 12:14 pm to
so I guess the biweekly lump sump equivalent should be more than what I get on a regular biweekly salary?
Posted by jeffsdad
Member since Mar 2007
21411 posts
Posted on 10/7/16 at 12:36 pm to
from my experience, a larger percentage of taxes are taken out.....might be incorrect.
Posted by AUCE05
Member since Dec 2009
42565 posts
Posted on 10/7/16 at 12:38 pm to
What company?
Posted by Breauxsif
Member since May 2012
22290 posts
Posted on 10/7/16 at 12:40 pm to
Money Board. Take this to the Money Board.
Posted by Broke
AKA Buttercup
Member since Sep 2006
65044 posts
Posted on 10/7/16 at 1:27 pm to
Generally no to 401k and health insurance.
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