So my job ,closed on December 13 of this year, I was offended a servance package, I did sign the paper work, I was explain about a severance package, but how long do I have to wait for it to get deposited ,into my account

Information on a servance package, in Amsterdam ny.

1 answer  |  asked Dec 18, 2019 7:28 PM [EST]  |  applies to New York

Answers (1)

V Jonas Urba
Severance pay is usually paid within 30 days after full execution of severance paperwork. Papers usually include a settlement agreement and a general release or a combined document.

In New York, all employees must be given 21 days in which to consider the terms of a severance package or offer and then 7 days to potentially revoke or rescind their acceptance if an employee changes their mind.

Many severance agreements state a time period in which employees will be paid. Re-read the terms of your severance agreement. The time period might be printed in the paperwork you signed. Once the above time periods expire, it's usually a binding contract which either employee or employer may enforce in court if the terms as drafted are followed.

posted by V Jonas Urba  |  Dec 18, 2019 8:09 PM [EST]

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