Severance Pay Discrimination
I was recently laid off. When I asked about a severance package they gave me $7,000 for now. They are suppose to let me know about my severance package. The last employee who was laid off received 1 years salary for 12 years of sevice. I was told by the managing member the severance pay is 1 years salary for every 10 years of service. I was with the company 30+ years. The previous employee was an Admin Asst, I was the Controller/CFO. Am I entitled to 3 years salary?
1 answer | asked Jul 31, 2013 10:10 AM [EST] | applies to New Jersey
Answers (1)
If the company has a severance plan that enables administrators to match benefits to eligible participants in the plan, the company must follow the terms of the plan. There must be at least a summary plan description of such severance benefit plans. The plan administrator must give you complete governing plan documents for all benefit plans within 30 days of your request to the plan administrator. If there is neither a plan nor a requirement to pay a severance benefit in an employment contract, there is no obligation to pay any severance benefit. Severance benefits may be negotiated between the departing employee and the employer. Employers typically demand a release in return for the payments. This information is a general statement of the law applicable to severance obligations and does not constitute legal advice for your particular situation. You may contact me or any other knowledgeable attorney for assistance in obtaining plan documents and negotiating a severance benefit.
Doris Dabrowski, email@dabrowski-law.com.
posted by Doris Dabrowski | Jul 31, 2013 11:55 AM [EST]
Doris Dabrowski, email@dabrowski-law.com.
posted by Doris Dabrowski | Jul 31, 2013 11:55 AM [EST]
Answer This Question
Sign In to Answer this Question
Related Questions with Answers