This person solved the problem by saying, "Well, what if we agree that this assistance will be called a signing bonus?" Get it in writing. Once you and the company agree on a compensation package for your relocation expenses, make sure you capture that agreement in writing. A formal contract is not necessary, just a simple signed letter.
[USC02] 5 USC 5753: Recruitment and relocation bonuses. period multiplied by the number of years (including a fractional part of a year, as determined under .
Relocation packages cover a wide spectrum. A new college grad might be offered a one-time, $2500 bonus to cover moving expenses. That’s about the lowest acceptable relocation bonus.
A much better and legally safer approach is to pay all final wages due to that employee and then consider pursuing a separate claim against him for failure to repay the relocation bonus, if you determine that given the amount in dispute and other circumstances, that claim would be worth pursuing.
I recently received my relocation bonus. The amount was $4800 ($7500-$2700(tax)). I did not relocate anything so I have no recipts. I did however rent a car to drive to the new location, and then another that I used for almost 2 weeks before I bought a car.
"Best in class relocation programs cost considerably more, on average, $33,193 per package, as compared to $18,730 and $13,167 for "somewhat successful" and "unsuccessful" programs, respectively. One more piece of data before I play analyst on what it all means.
What’s Included in the Average job relocation package? check out a few examples of common relocation package features. If interested, you can find more relocation package examples and features in our free guide. Full pack and/or unpack services. The employee’s household goods are packed by a moving company, saving the employee time and stress.
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There is no specific tax rate that is applied to a relocation bonus, but I’m not a bit surprised at your reaction. The reason it may seem high is based upon how payroll systems work. During the processing of a single payroll cycle, taxes are ext.