Abstract
A company that provides severance benefits to its employees should consider paying the severance benefits under a written plan that meets the requirements of ERISA. By paying severance under an ERISA severance plan, a company obtains many advantages that place it in the best possible position to defend a lawsuit concerning severance. In addition to these advantages, the article discusses the disadvantages of establishing an ERISA severance plan, the risks of maintaining a severance program without first evaluating whether it is covered by ERISA, the requirements for drafting an ERISA severance plan and provisions that are recommended to be included in an ERISA severance plan.
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