severance pay & comm.payout

[L.Hall]

I recently resigned my position at a software company. I have the follwing due to me: ONe month severance salary, sales comm. as well as stock option grant pay out. My employer is claiming that htese must go through ADP? I have received other bonuses etc that have not gone through ADP, and I would like to place much of this money in a CD to try and save a little money before tax time.

 

[Attorney_Replogle]

If by ADP you are referring to the outsource company that processes payroll and other functions for companies, then I don't see why the employer's claim is untrue. The main thing is that the employer is ultimately responsible to insure that all wages and severance pay due you is actually paid you within 48 to 72 hours (it varies from state to state) of your termination.

What you do with that final paycheck is your business. The employer is not required to place it in a CD for you.

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Mark B. Replogle