Korean Job Discussion Forums

tiger fancini · Joined: 21 Mar 2006 Location: Testicles for Eyes

I've been trying to get an answer from my public school on what, if any, deductions will come out of my severance pay. Every month I pay pension, medical insurance, tax etc on my salary. No-one seems to know if any of this will come out of my severnance, and I personally feel that it shouldn't. Can anyone let me know what to expect?

kprrok · Joined: 06 Apr 2004 Location: KC

tax only, but I think it's at a slightly higher rate than standard income tax. I had about 60,000 taken out of 2.4 last year.

KPRROK

Young FRANKenstein · Posted: Fri Apr 27, 2007 3:16 am Post subject:

tax only.

The Bobster · Joined: 15 Jan 2003

Young FRANKenstein · Posted: Fri Apr 27, 2007 7:04 pm Post subject:

Milwaukiedave · Joined: 02 Oct 2004 Location: Goseong

TF,

I'm really glad you asked this question. I was wondering the same thing. At the end of May I finsh at my public school and was trying to figure out what withholdings come out of the severance.

I don't want to hijack the thread, but I came up with another good question that is related. How soon will a public school give you your severance payment?

kimchi story · Joined: 23 Nov 2006

Milwaukiedave · Joined: 02 Oct 2004 Location: Goseong

Thanks...I hope someone can enlighten us with an answer. It's important to know what to expect.

I'm hoping to get my severance before I go home, as I'd like to transfer all my money at one day. If not, I have a back up plan as I can have my wife hold on to it and bring it in the fall.

Anyone have a clue what the time line is for getting your severance from a public school?

tiger fancini · Joined: 21 Mar 2006 Location: Testicles for Eyes

Well I'm finishing my contract on Wednesday, and have been told I'll get the severance paid into my bank on Tuesday or Wednesday. I'm not flying out until Saturday so that suits me.

Milwaukiedave · Joined: 02 Oct 2004 Location: Goseong

TF,

If you can, please post what happens in your situation. I'm hoping that is what will happen when I finish as well. Except it could get tricky as I finish on a Thursday and leave the following Wednesday (which is a holiday).

I am interested in hearing if it works out as planned.

tiger fancini · Joined: 21 Mar 2006 Location: Testicles for Eyes

Today was my last day. My severance pay wasn't in the bank when I checked this morning, but it was all there when I checked on my way home. I actually think there's a little more than there should be, but I'm not complaining! Good luck with yours.