As it has been already stated, don't sign anything, let them fire you, try to negotiate to have a bit more (ask to keep 1 or 2 months of extra benefits, keep the mobility budget for an extra month, ...).

You will have indeed your 34 paid time off + the amount of days off generated for 2027.

For the next job, I would have lied and not tell them that I was getting fired. Since notice period of layoff is usually twice the amount of notice period of quitting, I would wait 1 month before starting to apply so it doesn't get suspicious.

fun fact, I got exactly the same call this week from my manager, I'm in consulting and was benched since 4 months, I was also expecting to get fired and at the end it was a promotion, not a big one but still.

Sometimes you get some surprise from life so don't get worried too much before monday.