Unemployment benefit and lump sum payment

[shawnma]

Hi,

I am living in Massachusetts. I have been laid off. I received a lump sum payment in exchange for signing a general release.

Is that the same as severance/termination pay?

How this will affect my eligibility to receive an unemployment benefits from the state?

Thanks!

 

[cbg]

It can be. It will not affect your long term eligibility for benefits; it may affect when you can begin receiving them. It will depend upon the terms of the release and also on whether the company calls it severance, or pay in lieu of notice.

You can call the DET for additional information; they are usually pretty helpful.