Hi - Forced into Early Retirement - Questions

[Misscali]

I have been told that my last day will be October 1 and that I am eligible for severence pay. My question is, am I also eligible for unemployment benefits and when should I apply for those? I live in PA.

 

[Brat]

I would apply after your last day of work and see what PA does with your application. Most states have a website that explains their rules.

You do know that unemployment benefits are offered only if you are seeking re-employment. If you are retiring then you won't qualify.

 

[crazy connie]

So sorry for the pending job loss. In most states yes you are eligible for unemployment even with the severance. Apply once no longer reporting to work. Read the website for unemployment bennies in your state now though. Good luck and welcome.

 

[ziggy29]

As mentioned -- it depends on the state. But if you really intend to "retire" and not seek other work, there are questions of ethics on collecting unemployment benefits. Having said that in most states if you are involuntarily terminated without cause you are entitled to unemployment benefits subject to their rules on continuing to look for other employment.

 

[kaneohe]

Ask your HR or your state agency. In some states, you are eligible immediately if you get severance as a lump sum (perhaps after the lump is received). If you are getting severance as a periodic payment, possibly you won't be eligible until those payments stop.

 

[Bestwifeever]

In Illinois you cannot collect unemployment if you are receiving a pension, as I understand it. But receiving a severance package does not affect your eligibility for unemployment unless it's called "wage continuance" or something (and as Kaneohe described, is paid periodically like your wages were). If you are forced into early retirement, see if you can defer your pension until either your unemployment benefits expire or you find another job.

 

[ziggy29]

By the way -- to open up another can of worms if I may -- do you know what your health insurance situation will look like after October 1?

 

[mf15]

I am in Pa and took a voluntary package,severence monthly,with pension.
First they subtract pension from unemployment, then they denied the whole thing.
If you are being layed off with severence you should be ok, but if you sign a voluntary retirement statement then no unemployment.
What do you mean by forced into retirement.
Old Mike