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marwinstonboro
marwinstonboro asked in Business & FinancePersonal Finance · 10 years ago

If I put 100% of my severance pay in 401k can I collect unemployment for the weeks covered under the severance?

I live in Indiana

4 Answers

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  • kapn
    Lv 7
    10 years ago
    Favorite Answer

    No........severance pay is after tax's.............

  • Anonymous
    10 years ago

    Severance is a thank you for PAST performance.

    Unemployment is a payment for your CURRENT situation.

    While employers routinely hint that if you get x weeks of severance, you can't collect unemployment for the same x weeks, this is NOT true.

  • rtfm
    Lv 7
    10 years ago

    No. You received the severance; what you did with it after that is your own choice. It doesn't negate the fact that it counts as earned income as far as your unemployment is concerned.

  • ?
    Lv 7
    10 years ago

    Sorry but no.

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