In re the Claim of Baxter

Claimant worked for General Electric Company until May 1, 1987 when he was laid off. Claimant elected to accept General Electric’s severance pay option which permitted claimant to be paid for the number of weeks equivalent to his years of service plus vacation time accrued during the severance pay period. Claimant received weekly payments for 34.75 weeks. Normal payroll deductions were taken out of the checks. In the event claimant had secured other employment before the expiration of the 34.75-week severance pay period, he would have received a lump-sum payment for any remaining weeks of…