Relating to disqualification for unemployment benefits for other compensation received and including applicability provisions

Under current law, an individual is disqualified for unemployment benefits for any week in which the individual receives payment of wages in lieu of notice, a separation allowance, severance pay, or dismissal pay. This bill adds payment of any other remuneration in connection with separation from employment to the grounds for such disqualification. The bill provides that if the amount of the payment for wages in lieu of notice, separation allowance, severance pay, dismissal pay, or any other remuneration in connection with separation from employment received in a week exceeds the benefits the individual would otherwise be entitled to receive for the week, the amount of benefits in subsequent weeks the individual would otherwise be entitled to receive shall also be reduced by the amount of the payment. Such reduction shall continue until the total amount of the benefits reduced in this manner equals the total amount of the payment received. The bill applies to such payments received by an individual on or after the effective date of the bill.