Severence pay???

[FarfromHOMEwife]

So we are getting ready to get out and was wondering how did it go for everyone? How much (if you qualified for it) was severance pay and how did it work for ya? If you did unemployment how much did you see from regular pay check ( what you got normally in as active)? He went to TAP class and got info but pay was not covered in detailed. Oh he is unfortunately getting out as E4 8 years service honorable with no issues. Any help with be great we will be going back to TX and already looking for jobs back home.

[marybeth]

I'm not sure I would call it severance pay, not exactly. It all varies on the SM's individual situation, if they are selling leave, if they are doing a PPM. I just don't have all the info to advise accordingly.

[FarfromHOMEwife]

He will be selling leave its 27 or so days , and the other ppm or sm no clue what does are?

[Kitten]

Is he being forced out due to tenure or whatever? If he is not and is electing to get out I do not think he qualifies for any kind of severance pay at all. When you 'quit' your job by choice you don't qualify for that.

PPM is a Personally Procured Move and a SM is a Service Member (your DH).

[FarfromHOMEwife]

No we are being told we are getting out bc he hasn't promoted in the time frame of sgt in 8 years. So we know we qualify for it since we are getting out not by choice. I'm just trying to calculate to see how much we can earn or get to plan out our finances after the military in case we don't find a job before he gets out. Sorry I am anal with numbers and hate not having things planned and secured for our finance.

[Gagenivy]

Hubby says the finance website has calculators on it to figure that stuff out:/


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[Kitten]

Ok if he is being pushed out then you likely will get severance pay. Just go and Google "Severance Pay for E-__ with __ years in" or whatever.

[Mrs Huffy]

http://usmilitary.about.com/od/fy200...epenl.-uVm.htm

This is from 2009 and says an E4 with 8 years will get roughly 21k

[FarfromHOMEwife]

Ah thanks that's what I have been looking for thank ya :kiss

[navywife07]

My DH was forced out b/c of high year tenure last year. He got a signifigant amount of money for severance pay but it was also taxed at a high rate, I can't remember what percent it was but we also got a lot of that back on our tax return. As far as unemployment is concerned my DH is getting the highest amount that he can get per week in our state. I am not sure if the amount would be different based on what state you are in.

[Mrs Huffy]

Probably taxed at about 25%

[TrishAFSpouse]

well that's news... i didn't know members got severance pay for getting out due to high year tenure... not sure how i feel about that.

Unemployment is generally based on the number of years worked, the longer one works, the more money they will get. Often times its a percentage of the total salary earned over X amount of years.

You should contact the employment office of his HOR to see what the rates are.

[marybeth]

He is being forced out due to not making enough rank in enough years so the theory is he does have a choice in that he could have made the rank and perhaps stuck around. I've had a few get pushed out from this over the years. He will still be able to sell back his leave and such, but there is no formal severance package like you see in the civilian world, none that I have ever heard of.

[Mrs Huffy]

Originally Posted by marybeth

He is being forced out due to not making enough rank in enough years so the theory is he does have a choice in that he could have made the rank and perhaps stuck around. I've had a few get pushed out from this over the years. He will still be able to sell back his leave and such, but there is no formal severance package like you see in the civilian world, none that I have ever heard of.

Read the link I posted...it spdcifically lists high year tenure as a reason for severance. I was shocked! It is on more than one website and some dod websites as well...I was also shocked by the amount!

[pilesoflaundry]

I know how high it is and it shocks me that it saves money. If they are going to give all these people $20-$30,000 isn't it cheaper to just keep some of them in a few more years and hope they make tenure?

I guess long term it saves by not paying medical, bah and retirement if those few extra years push someone into retirement (such as high tenure e-5s at 15) but....you now have to pay to train replacements so??

Not that the gov. ever makes sense with money.

[JessL]

We got half severance pay for DH getting out on overweight. We are still waiting on it to hit the bank. But we are expecting close the 10000.

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[FarfromHOMEwife]

Originally Posted by pilesoflaundry

I know how high it is and it shocks me that it saves money. If they are going to give all these people $20-$30,000 isn't it cheaper to just keep some of them in a few more years and hope they make tenure?

I guess long term it saves by not paying medical, bah and retirement if those few extra years push someone into retirement (such as high tenure e-5s at 15) but....you now have to pay to train replacements so??

Not that the gov. ever makes sense with money.

Trust me we would rather stay in my husband just got to a unit who has been screwing him up and prevented his promotion. You would think if someone was willing to stay in why fight him and let him in. Govt never undersood their logic.

[hoss'sgirl05]

Yeah dh has a marine who didnt make staff in the 12 years that was required (the new is 10 years) so they are giving him 40000.

[Mrs Huffy]

Bump for Sako...

[IluvMySailor716]

thanks, tam