Layoff Benefits do NOT count against unemployment compensation

The letter below indicates that your severance benefits, whether taken as continuation income or lump sum, will not be deducted from unemployment insurance benefits.

October 18, 2001

TO: Adjustment Center Managers and Supervisors

FROM: Jim Wilkins, Non-monetary Review Unit

Employment Security Department

SUBJECT: Boeing Layoff Benefits

The Boeing Company has announced layoffs beginning December 14, 2001. Affected employees will be eligible for benefits under the Boeing Company Layoff Benefits Plan. Under the Plan, employees who are laid off will be eligible for a benefit of one week of base pay for each full year of service (up to a 26-week maximum), payable as income continuation. A lump sum may be available to certain employees. (Employees who elect a lump sum payment give up any recall rights.)

The layoff benefit payments, whether received as income continuation or in lump sum, are severance payments. Therefore, they are not considered to be remuneration for any period following the employee’s last day of work, and will not be deductible from unemployment insurance benefits.

Questions may be directed to Jim Wilkins at (360) 902-9484.