The Window Of Risk In Weighing Severance Proposals

Law360, New York (November 11, 2008, 12:00 AM EST) -- The payment of severance in exchange for a release of claims is often a win-win situation for employers and employees who have lost their jobs.

For workers who are 40 years of age and older, the Older Workers’ Benefit Protection Act (“OWBPA”) sets forth specific requirements that must be included in any severance package, in order to obtain an effective release and waiver of discrimination claims.1 29 U.S.C. § 626(f) (2005).

Among those is a requirement that, in order for a release of claims to be...
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