Annual Bonus/Still receive after resigning???

Georgia State:

Hi everyone,

I am turning in my letter of resignation tommorow. I work for an insurance company and each year we get a annual bonus contingent upon the company's performance for the prior year. So this year's bonus, payable on february 15th, is for the profit year of 2004.

I think I should be entitled to the bonus even though I am resigning because I was an employee during the year that the bonus is based on. Can anyone tell me if I am right? Does the employer have the right to withhold this bonus from me?

Help, I'm clueless. I don't want to be taken advantage of.

How is this bonus paid? Do you receive a check with taxes withheld or is it deferred into your 401(k) or other retirement plan?

My only question is, you're going to fret about this and worry, do research, question and answers and still won't know for sure until Feb. 15 rolls around and then, if you don't receive it have to file a lawsuit and go through all of the hassle, missing work and perhaps winning, perhaps not.

Instead of hanging around for another three weeks to resign.

I sure hope you're not in upper management.

Belize, if the profit sharing is part of the employer's 401(k) Plan and the poster was still an employee as of Dec 31st, then the employer almost certainly HAS to pay him the bonus. It may be simple enough to answer his question if he posts back and answers mine.

I know dear. But it's questions like this that make me wonder how any of these people survive in the work world. Like three weeks is going to kill someone so they take time out from their job, for which they are being paid by their employer, and play on the internet.

Kind of poetic justice if the answer to your question is NO

I just don't see what the problem is with this question. If I were leaving my employment, I'd like to know whether I'd still receive a bonus payment.

And you see nothing wrong with an employee using the internet while they should be working?

I know better than that.

What he's supposed to be doing is none of my concern. It's also possible he posted on while on break or posted from home.

To the best of my knowledge, Georgia has no law stipluating that earned bonuses, commissions, etc. are vested wages and must be paid at termination even if such termination is before the normal date scheduled for payment.

My advice: suck it up for 3 more weeks and then resign. If you have another job that wants you to start earlier, ask them for a delay in your start date.

Hi Beth3,

The bonus is paid through direct deposit and taxes are withheld.

Beth3 said:

How is this bonus paid? Do you receive a check with taxes withheld or is it deferred into your 401(k) or other retirement plan?

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You are a very NASTY individual. If you don't have any advice to offer then keep your comments to yourself. You obviously can't read as you read alot of assumptions into my simple question. You're probrably one of those people who spend 24/7 on the computer and have no social life. So sad, that's why you take your frustations out on people you don't even know via a computer screen.

Who said I did this during work? I work very hard, this question was posted at home, you freaking idiot.

Next, whether I get my bonus or not I am still leaving two weeks from the date of my notice. I will not hang around just to guarantee my bonus, but it would just be nice to know whether or not I will receive one.

Is that a satisfactory answer for you. If not, I could care less. Your responses were useless and without merit!!!!!!!!!!!!!!

BelizeBreeze said:

I know dear. But it's questions like this that make me wonder how any of these people survive in the work world. Like three weeks is going to kill someone so they take time out from their job, for which they are being paid by their employer, and play on the internet.

Kind of poetic justice if the answer to your question is NO

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Oh, you are so smart. Why would I hang around for another three weeks, when I have another job on the line, that requires me to start in two weeks.

Go to sleep, you must be tired!!!

BelizeBreeze said:

My only question is, you're going to fret about this and worry, do research, question and answers and still won't know for sure until Feb. 15 rolls around and then, if you don't receive it have to file a lawsuit and go through all of the hassle, missing work and perhaps winning, perhaps not.

Instead of hanging around for another three weeks to resign.

I sure hope you're not in upper management.

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Thanks Patty,

I appreciate you not tearing me down, like another member on this board. Waiting three weeks is not an option for me, but thanks for the advice.

pattytx said:

To the best of my knowledge, Georgia has no law stipluating that earned bonuses, commissions, etc. are vested wages and must be paid at termination even if such termination is before the normal date scheduled for payment.

My advice: suck it up for 3 more weeks and then resign. If you have another job that wants you to start earlier, ask them for a delay in your start date.

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asaxon, since the bonus is taxable income that means that it almost certainly is entirely a matter of company policy. Which means that they very likely don't have to pay it to you if they don't wish to.