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farrepatt
Joined: 27 Jan 2008
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 Posted: Wed Sep 03, 2008 8:32 pm Post subject: Deductions from final pay? |
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I'm sure the answers to my questions are posted somewhere on here but I tried using the search and can't seem to find what I'm looking for.
I'm an American working for GEPIK and my contract finishes next Thursday. I'm heading to the local pension office after work today to request my pension refund.
My school has seemed confused about most details regarding my severance, pension and plane ticket home. On my final day I'm assuming I'll get money for:
1) Final pay
2) Plane ticket reimbursement
3) Severance
4) Apartment Deposit
I was wondering if they take any money for pension out of my final pay or severance? Also, if there are any deductions taken out of these amounts that I should be aware of?
Thanks in advance for any help. |
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KYC
Joined: 11 May 2006
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| Posted: Thu Sep 04, 2008 2:10 am Post subject: |
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hahah I was kinda screwed by my previous public school out of my last month's paycheck. I usually make 1.9 after taxes but they only paid me 1.5. I got severance, plane ticket, and housing deposit returned no problem whatsoever.
I could call them up and start another battle but I am too tired to do so. I am too stressed out to deal with them at the moment and I don't ever want to deal with them ever again. they can keep the 400 bucks. I dont even care. |
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KoreanAmbition
Joined: 03 Feb 2008
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| Posted: Thu Sep 04, 2008 2:18 am Post subject: |
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I hope I'm misunderstanding your post when you say "take money out for pension or severance."
Does your school take money "out" of your cheque each month for severance???
If so, you need to get that checked because severance should just be an average of your annual salary. They shouldn't deduct from you just to give it back. |
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kprrok
Joined: 06 Apr 2004
Location: KC
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| Posted: Thu Sep 04, 2008 2:27 am Post subject: |
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| KoreanAmbition wrote: |
| I hope I'm misunderstanding your post when you say "take money out for pension or severance." |
Yes, you're reading that wrong. He's asking if they take pension money out of final pay or severance.
They do deduct pension, health, and tax out of your final pay, but only tax on the severance...no pension or health. This is why it takes a few weeks to get your pension refund, the office has to wait for that final contribution. |
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yingwenlaoshi
Joined: 12 Feb 2007
Location: ... location, location!
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| Posted: Thu Sep 04, 2008 2:33 am Post subject: |
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| kprrok wrote: |
| KoreanAmbition wrote: |
| I hope I'm misunderstanding your post when you say "take money out for pension or severance." |
Yes, you're reading that wrong. He's asking if they take pension money out of final pay or severance.
They do deduct pension, health, and tax out of your final pay, but only tax on the severance...no pension or health. This is why it takes a few weeks to get your pension refund, the office has to wait for that final contribution. |
Yeah, the only thing taken out of severance is a tax which is a different amount than your regular income tax. I'm sorry, but I can't remember what that percentage is. I've always just had what my boss was deducting for income tax on my regular paychecks as far as severance pay is concerned. Just goes to show that the whole tax situation is BS in many cases.
If the final payment has been remitted to the pension office by your boss, it takes only about a week or less to get the refund as long as you show an outgoing plane ticket. Doesn't matter if it's a return ticket. |
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KoreanAmbition
Joined: 03 Feb 2008
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| Posted: Thu Sep 04, 2008 6:10 am Post subject: |
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So based on the above conversation I have a question.
At what point do they tax our paycheques? Since I haven't seen any stubs yet, I would "assume" that they should take pension off before they take off income tax.
Can someone verify that? |
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kprrok
Joined: 06 Apr 2004
Location: KC
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| Posted: Thu Sep 04, 2008 4:58 pm Post subject: |
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| KoreanAmbition wrote: |
I would "assume" that they should take pension off before they take off income tax.
Can someone verify that? |
why would you assume that? Your "income tax" is based on your income. Your income includes your entire income, not what's left after other deductions since those deductions are part of your income. |
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