Legacy Merck Severance Question

[Anonymous]

Sorry, forgot to mention that is all in one check now and taxed as 'special' earnings per IRS guidelines. Expect to see 18 weeks of pay net out to a one time check worth about 60% of the gross with no 401k withheld.

Experience suggests the above post is accurate.
The higher FED tax withheld is oppressive. (Why would the IRS take higher withholding when one is severed, especially in this economy?)
Likewise IF NJ tax withholding is applicable, extra time may be needed to get the refund.
For example, if severance is paid and taxes withheld during first quarter 2014, then you will not see:
-- excess FED tax withheld 1st qtr. 2014 refunded only after April 2015's filing for 2014, &
-- excess NJ tax withheld 1st qtr. 2014 could have refund delayed until
early 2nd half 2015 due to ongoing NJ tax refund processing delays.
Hand raises should consider above.

 

[Anonymous]

Bad deal as you should be getting 2 weeks severance per years of service. Suppose all is changing as this industry.

 

[Anonymous]

Bad deal as you should be getting 2 weeks severance per years of service. Suppose all is changing as this industry.

L-SP? You should be happy with one week per year. The only reason your work was extended was because of the merger. I don't even think there are many L-SP still here. I know "Then why did you buy us". It was a stupid move. Be happy you even had the chance to work at Merck.

 

[Anonymous]

Merck was a hell hole. Wish I hadn't had to spend 3 L O N G years there. Take the money and run. Your life will be so much better without that psycho management team.