N.J. Admin. Code § 12:17-8.7

Current through Register Vol. 56, No. 21, November 4, 2024

Section 12:17-8.7 - Severance or separation pay

(a) For the purposes of this subchapter, "severance or separation pay" shall mean any lump sum payment or periodic payment made to an individual by an employer at termination under contract or obligation or by custom which is based on past services performed for the employer.

(b) The receipt of severance or separation pay in periodic payments or in a lump sum shall not be a bar to eligibility for unemployment benefits. However, the payments do not extend the individual's employment period and such weeks and payments may not be used to establish or increase his or her monetary eligibility for benefits for any claim filed after the period for which they are made.