2022-07-27 - 12:06 p.m.

In other news Unemployment is based on GROSS INCOME
NOT NET
So the amount earned includes any that is going into a 401K.

"You must report all wages earned for any work, including temporary, part-time, and self-employment, for the week they are earned (not when paid). If you work and your gross income for the week is less than your weekly benefit amount, that gross amount less $50 will be deducted from your weekly benefit amount. If your gross earnings equal or exceed your weekly benefit amount, you will not receive benefits for that week. Report your return to full time work when you file your weekly continued claim for benefits. Be sure to report your earnings right away, regardless of when you get paid, or you may receive benefits which you have to repay."

Therefore it makes sense for me to have cash in hand now!
SO switched that BACK as I got the letter of determination of what my unemployment payments will be and it was BASED ON BOTH sources of income.
Even though the last year 100% of the part time receptionist job went to a 401 K that 5K earned went only into a retirement fund it did get added into the unemployment insurance calculation.

VEC sent a letter of determination of eligibility and it factored in both that income and the other job ( main job).

The way it works any money I earn from that job gets deducted from the allocated amount.

So $337 a week has been allocated in unemployment payments.
If I earn $162 for two weeks ( That is about right based on my few hrs of work ) at that part time job-
the $337 weekly payment is reduced by the 81 dollars for one week and my check issued by VEC will be $ 256.

$1348 VEC payments All other income to be reported. My mortgage payment is $1455 a month ( thank God I re-financed last year! It used to bea 1650 and I regularly would budget and send $1750.Now the lower 1455 is hard to meet for the time being.BUT I know this is temporay and I will land a job very soon!!)

Hell VEC payment if it comes through is better than nothing! Picking up more hours reduces the money sent to me by VEC and I am ABSOLUTELY FINE WITH THAT.

What I was NOT fine with was using my retirement fund as an emergency fund IF I DO NOT HAVE TO.

If the unemployemnt was to be based on NET earnings- hell then I did not want that 5K factored in, and I also did not want to reduce VEC payment based on reallocation of funds FROM a retirement fund in this case

AS honestly this is a part time job I do on Weekends SPECIFICALLY to add to my retirement fund. So I give up free time on weekends with my family. I give up being able to go out do other things so I can have a secure retirement and not be a burden on my kids when I hit old age.

I think it sucks that if you lose a PRIMARY JOB that while actively looking that kind of work reduces your VEC payments.
BUT I GET IT

IF the VEC payments WERE ( As I falsely read!! IT WAS WRONG) BAsed on NET income they hell yeah why factor in that piddly extra income ( that adds up OVER YEARS for retirement) if that was not expected to be included?

BUT IT IS.

I wonder if what happened - since I EACH WEEK diligently and honestly REPORTED the wages earned-
so last time round when I got ONE CHECK then was DROPPED as ineligible

I worried it was cause when reported wages they bumped me from eligibilty

But that was only something like the $81 earned that 2nd week I was unemployed (last go round) likely just coincidence. VEC never gave me explaination of why dropped as at the time could not even get a person on the phone. So more likely it was my employer contesting or something of that nature rather than a mistake cause I reported the income from the part time job.

Time around I DID get a person on the phone but they defltected when I inquired if she could see the history and tell me what happened last time around. She wanted to help me with THIS Claim and THEN said after we get this straight I should call back to look into what happened a couple of years ago as she said the whole history is in the file under my social security #.

I had let it drop as it was a PIA.
The thing is it was also something like $1200.
Hell if it were a mistake that too could come in handy now. I didn't care when got my new job and had sufficient income. IT only matters if hit a rough patch.. like now.

I mean I typed up and mailed in a 12 page document outlining ALL the jobs applied to and ALL the part time income earned. It was clear and detailed.
And in the letter inquired why my payment was for one week only then I got the message in their system there was no active claim.

It was messed up. No reason I should have been not eligible.

In any case I am VERY Grateful for the benefits manager of the home company that owns the Assisted Living facilty I work at part time who sent an emial to confirm I REALLY Want to move all earned income into the 401K.

NO I don't
NOT NOW

No financial advantage.

For time being. I have been a PIA as am switching it BACK to the 6% not 100%
I was grateful and asked her to make THAT change.

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