I was given a severance package that gives me about 37 weeks of pay. Can i get unemployment on top of this?

unemployed_personQ) After 19 years i was let go because of company cutbacks. I was given a severance package that gives me about 37 weeks of pay (2 weeks for each year of service). Can i get unemployment on top of this (in Ohio) or can i get any additional weeks of coverage after my severance runs out?

A) Yes, you may be able to get unemployment benefits on top of your severance package. However, the amount of unemployment benefits you receive may be reduced by the amount of your severance pay.

In Ohio, your weekly unemployment benefit amount is calculated by multiplying your average weekly wage by 60%. However, your benefit amount cannot be more than $486 per week or less than $168 per week.

If you receive severance pay, the amount of your unemployment benefits will be reduced by 50% of the weekly amount of your severance pay. For example, if your weekly severance pay is $500, your weekly unemployment benefit amount will be reduced by $250.

You may be able to receive unemployment benefits for up to 26 weeks in Ohio. However, the amount of time you receive benefits may be reduced if you receive severance pay.

If you are unsure whether you are eligible for unemployment benefits, you should contact your state’s unemployment office. They will be able to assess your specific situation and determine if you are eligible for benefits.

In some states, salary continuation payments are treated as income for purposes of unemployment compensation benefits. So, if your payments are equal to or more than your pre-layoff salary or wages, you may be ineligible for benefits while you are receiving severance. Please visit your state local unemployment office and speak with a counselor regarding any possible unemployment insurance benefits available to you.

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