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Employee severance arrangements can be tricky business. For example, an improperly drafted release agreement could be invalidated and of no effect. Some severance packages are subject to ERISA. Some employers find themselves ordered by a court to provide severance pay or benefits even though they do not have a written severance agreement and never actually intended to provide any severance benefits to their terminated employees. This webinar examines the most up-to-date strategic, legal, and financial considerations employers need to consider with regard to offering (or not offering) severance arrangements to terminated employees.
The general rule is that you don’t have to offer severance benefits to your departing employees—but it may be in your interest to do so. In this webinar, you will learn why you might want to offer severance benefits and how to make sure your severance arrangements comply with the Older Workers’ Benefit Protection Act (OWBPA), ERISA and other federal and state anti-discrimination laws. You will also learn how and when you could end up having to offer severance even if you did not intend to do so and even if you do not have a written severance agreement. You will also learn what elements you should include in a severance agreement if you choose to offer one and other issues that should be on your radar screen.
- Common severance myths;
- The difference between severance agreements, severance packages and severance plans.
- Key elements of a severance agreement and language that should be considered for most severance agreements;
- The EEOC and severance agreements
- An overview of the special rules applying to older workers–who’s protected by the Older Workers Benefit Protection Act, and what it means to you;
- Discrimination Issues;
- Affordable Care Act and COBRA Issues
- ERISA considerations – and more!
Topic: What Employers Need to Know About Severance Arrangements
Date: Jul 10th 2018, Tuesday | Time: 01:00 PM EST – Duration: 60 Minutes
Janette Levey Frisch, Founder of The EmpLAWyerologist Firm, is an Employment/HR attorney with over 20 years’ legal experience. Janette is the Legal Wellness Professional for your employment practices and workforce challenges. Janette works with employers like you to craft solid Employment Practices Wellness Plans tailored to address your company’s needs and concerns. Do you wish you could engage an employment law/HR expert—an “outsourced in-house counsel”-,- to solve small problems before they get big, before they escalate to a lawsuit or government audit, or maybe even avoid them altogether? Does that sound too good to be true? It isn’t. That is what Janette Levey Frisch, and Employment/HR Attorney and Founder of The EmpLAWyerologist Firm does. Janette is available for consultations, and legal services on virtually all federal and NJ and NY state employment law issues.
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