Severance pay and agreements can protect an employer when it lets people go, but only if they are handled well. This 90-minute webinar on severance agreements answers frequently asked questions about employee termination, severance pay, severance agreements and ERISA.
You'll start with common severance myths and the key elements of a severance agreement, then look at non-competition clauses, general releases and how discrimination claims fit in. The session explains the EEOC's position on severance agreements and the Older Workers Benefit Protection Act (OWBPA).
It also covers COBRA and ACA issues and when severance packages are subject to ERISA, along with the current strategic, legal and financial factors to weigh when offering severance to departing employees.
WHY SHOULD YOU ATTEND?
Employers often offer severance in exchange for a release and a promise not to sue, but a poorly drafted release can be invalidated, some packages fall under ERISA, and courts sometimes order severance even without a written agreement. A badly designed arrangement can create the very claims it was meant to prevent.
This session suits business owners, CEOs, CFOs, benefits and payroll administrators, compensation officers, HR managers and directors, and senior managers.
AREA COVERED
- Common severance myths
- Key elements of a severance agreement
- Non-competition clauses
- General releases
- Discrimination claims
- The EEOC and severance agreements
- The Older Workers Benefit Protection Act (OWBPA)
- COBRA and ACA issues
- ERISA considerations
LEARNING OBJECTIVES
- Separate severance myths from legal requirements
- Include the key elements of an enforceable severance agreement and release
- Use non-competition clauses appropriately
- Address discrimination claims and EEOC rules in severance agreements
- Meet OWBPA requirements for older workers
- Handle COBRA, ACA and ERISA issues in severance arrangements
WHO WILL BENEFIT?
- Business owners
- CEO’s
- CFO’s
- Benefits administrators
- Compensation officers
- HR Managers/Directors
- Managers/Senior managers
- Payroll administrators
Employers often offer severance in exchange for a release and a promise not to sue, but a poorly drafted release can be invalidated, some packages fall under ERISA, and courts sometimes order severance even without a written agreement. A badly designed arrangement can create the very claims it was meant to prevent.
This session suits business owners, CEOs, CFOs, benefits and payroll administrators, compensation officers, HR managers and directors, and senior managers.
- Common severance myths
- Key elements of a severance agreement
- Non-competition clauses
- General releases
- Discrimination claims
- The EEOC and severance agreements
- The Older Workers Benefit Protection Act (OWBPA)
- COBRA and ACA issues
- ERISA considerations
- Separate severance myths from legal requirements
- Include the key elements of an enforceable severance agreement and release
- Use non-competition clauses appropriately
- Address discrimination claims and EEOC rules in severance agreements
- Meet OWBPA requirements for older workers
- Handle COBRA, ACA and ERISA issues in severance arrangements
- Business owners
- CEO’s
- CFO’s
- Benefits administrators
- Compensation officers
- HR Managers/Directors
- Managers/Senior managers
- Payroll administrators