At The Podium
Severance Plans and Agreements: Issues and strategies
While severance arrangements are considered a benefit to employees for involuntary termination, offering them is not without risks. They, too, can be subject to a myriad of federal regulations, including ERISA, the Internal Revenue Code, and various employment laws such as the Age Discrimination in Employment Act (ADEA) and Older Workers Benefit Protection Act (OWBPA).
Speaking at McAfee & Taft’s EmployerLINC17 seminar in Oklahoma City in a presentation titled “Severance Plans and Agreements: Issues and strategies,” employee benefits attorney Barbara Klepper reviews the “deadly sins” associated with mishandling the offering and execution of a severance arrangement and discusses what employers can do to either avoid or correct those mistakes.