If you've recently become unemployed, you might be reassured that you will be able to collect unemployment benefits. But there are a lot of things you might not know about Nebraska's Unemployment Benefits.
For example, did you know:
- You might not even be eligible for unemployment benefits? In Nebraska, your former employer must pay a quarterly unemployment insurance tax for you to be eligible. If your former employer isn't required to pay into the system, you're not eligible to collect benefits.
- You must meet specific earnings criteria before you're eligible. Currently, you must have earned a minimum of $2651 in the first four of the last five completed calendar quarters -- with at least $800 in earnings in two of those quarters.
- You can be disqualified for benefits if you quit your job or if you were discharged for misconduct. This could be a temporary disqualification or a reduction in total benefits. (I've had several clients who were initially denied benefits -- it IS worth your time to appeal if you believe your claim has merit!)
- You must file ongoing claims and meet eligibility criteria to *continue* to receive payments. You must be *able* to work, you must be *available* for work, and you must be *actively seeking* work each week. In addition, you must accept a job that you are "suitable" for, or you may be penalized with a loss of benefits.
- Even if you qualify, there is a mandatory one week "waiting period" before you'll be eligible to collect benefits. And it generally takes 3-4 weeks to receive your first check. (Source: Nebraska Department of Labor). Fourteen states -- including Iowa -- have no waiting period.
- The maximum weekly benefit amount is $298 per week ... even if you currently make $65,000 a year. Benefits are calculated from a formula, but are capped at $298 for ALL recipients. And you can only claim benefits for up to 26 weeks. (So don't wait to get started on your job search once you lose your old job!) (And by the way, Nebraska ranks in the bottom 15 states for weekly maximum benefit amounts.)
- State unemployment benefits *are* subject to federal taxes. So set aside 15-25% of your benefit check to pay Uncle Sam when tax time rolls around, or have taxes witheld from your checks.
And if you think your job is in jeopardy, don't wait to update your resume. Every week you are out of work can cost you THOUSANDS of dollars in lost income ... and unemployment benefits (if you qualify), can't begin to make that up. (If you make more than $22,000 a year, you'll be losing hundreds of dollars -- even thousands -- each week you're unemployed.)
