June 13, 2017
Severance Agreements For Employees Over 40 – Complying with the Older Workers Benefit Protection Act (OWBPA)
Whenever a client asks me to prepare a severance agreement for a departing employee, the first thing I ask is if the employee is 40 or older. This is important because severance agreements for employees who are 40 or older must comply with the Older Workers Benefit Protection Act (OWBPA), which specifies the minimum requirements for a release of claims under the Age Discrimination in Employment Act (ADEA).