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Early Retirement Incentives: Navigating the Legal Issues

Learn how to structure a legally sound early retirement incentive plan.Workforce reductions can be both difficult and tricky. Employers seeking an alternative to involuntary reductions in force often consider alternatives to reducing their workforce, including voluntary Early Retirement Incentive Programs. When crafting an Early Retirement Incentive Program, however, employers must be careful to ensure that they are complying with their legal obligations – including in particular obligations and requirements under the Age Discrimination in Employment Act (ADEA), which provides a 'safe harbor' for voluntary Early Retirement Incentive Programs. Employers also have a vested interest in ensuring that any Separation Agreement and Release of Claims associated with their Early Retirement Incentive Programs is both legally-compliant appropriately tailored to the company’s needs. This topic will focus on the primary factors and steps associated with considering, developing and implementing an effective – and legally-compliant – Early Retirement Incentive Program. Join us to learn the pros and cons of implementing a voluntary Early Retirement Incentive Program in your workplace, and the practical steps to doing so without running afoul of the ADEA. We will provide you not only with the legal framework necessary to understand the risks and your company’s obligations, but also with practical considerations on structuring eligibility criteria, incentive options, timelines and procedures for rolling out the program, and crafting an effective – and, most importantly, legally-enforceable – Separation Agreement and Release of Claims.


Runtime: 97 minutes
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Getting Started – Structuring a Legally Compliant Early Retirement Incentive Program

  • Why Do It? Recognizing the Pros – and the Potential Pitfalls
  • Understanding the Legal Background and Framework for Your Early Retirement Incentive Program
  • Crafting the Early Retirement Incentive Without Running Afoul of the Age Discrimination in Employment Act

– Knowing the Company's Objectives - What Do You Want to Achieve?

– Setting the Eligibility Criteria

– Identifying the Incentive(s) – Severance and Other Benefits

Implementing the Early Retirement Incentive Program

  • Setting a Realistic, Workable Timeline
  • Establishing Clear Procedures – and Sticking to Them
  • Preparing and Managing Employee Communications

The Final Step – Crafting a Legally-Enforceable and Appropriate Separation Agreement

  • Recognizing the Requirements Necessary to Secure an Enforceable Release of Age Discrimination Claims Under the Older Workers Benefit Protection Act
  • Using Best Practices for Crafting the Release and Disclosure
  • Identifying Other Information – and Issues – to Address in the Separation Agreement and Release to Maximize the Benefit to Your Company
  • Wrapping up Your Early Retirement Incentive Program – Final Considerations
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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on August 10, 2017.

Call 1-866-352-9540 for further credit information.

  • SHRM 1.5
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.5 PDC(s) for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org
     
  • AL CPE
     
  • This course is acceptable for 1.5 live credit hour(s) through the Alabama State Board of Public Accountancy.
     
  • GA CPE
     
  • This program is applicable for CPE credit. *The Georgia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IA CPE
     
  • This program is applicable for CPE credit. *The Iowa State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • IN CPE
     
  • This program is applicable for self study CPE credit. *The Indiana State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • KY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Kentucky State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Massachusetts State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MD CPE
     
  • This course is not pre-approved for CPE credit in your state however, it is applicable. *Please check the rules and requirements in your state for compliance.
     
  • ME CPE
     
  • This Ondemand program is applicable for CPE credit. *The Maine State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MI CPE
     
  • This Ondemand program is applicable for CPE credit. *The Michigan State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MO CPE
     
  • This Ondemand program is applicable for CPE credit. *The Missouri State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • MT CPE
     
  • This Ondemand program is applicable for CPE credit.* *The Montana State Board of Accountancy has final authority on the acceptance of individual courses and providers. Please check the rules and requirements for CPE compliance and calculate the amount of credit hours you can claim for self study courses.
     
  • ND CPE
     
  • This Ondemand program is applicable for CPE credit. *The North Dakota State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NH CPE
     
  • This Ondemand program is applicable for CPE credit. *The New Hampshire State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • NV CPE
     
  • This Ondemand program is applicable for CPE credit.*The Nevada State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • OH CPE
     
  • This Ondemand program is applicable for CPE credit. *The Ohio State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • PA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Pennsylvania State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • TX CPE 1.8
     
  • Lorman Business Center, Inc. has registered with the Texas State Board of Public Accountancy as a CPE Sponsor. This registration does not constitute an endorsement by the Board as to the quality of our CPE Program. This program qualifies for 1.8 hours of continuing professional education.
     
  • VA CPE
     
  • This Ondemand program is applicable for CPE credit. *The Virginia State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     
  • WA CPE
     
  • This Ondemand program is applicable for CPE credit.* *Please check the rules and requirements in your state for compliance.
     
  • WY CPE
     
  • This Ondemand program is applicable for CPE credit. *The Wyoming State Board of Accountancy has final authority on the acceptance of individual courses and providers.
     

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • GA CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

MP3 Download

  • Arizona CLE 1.5
     
  • CA MCLE 1.5
     
  • CT CLE 1.5
     
  • HI CLE 1.5
     
  • IL CLE 1.5
     
  • ME CLE 1.5
     
  • MT CLE 1.5
     
  • NJ CLE 1.8
     
  • NV CLE 1.5
     
  • VT CLE 1.5
     
  • WA CLE 1.5
     
  • WV MCLE 1.8
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program format does NOT qualify, nor meet the National Standard for NASBA accreditation.

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Why Lorman?

Over 30 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Kelley E. Kaufman

Kelley E. Kaufman

McNees Wallace & Nurick LLC

  • Member (partner) with the law firm McNees Wallace & Nurick LLC in Harrisburg, PA; McNees’ other offices include Lancaster, PA, Scranton, PA, Columbus, OH, and Frederick, MD
  • An active member of McNees’ Labor & Employment, Education Law, and Automobile Dealer Practice Groups
  • Practice focuses on a wide range of labor and employment law topics
  • Partners with clients to find solutions to their labor and employment issues – from counseling as issues arise to managing and minimizing exposure to legal claims to defense of claims asserted by employees, and more; this includes regular day-to-day counseling on any variety of issues arising in the workforce, such as issues relating to compliance with federal and state employment discrimination laws, wage and hour obligations, family and medical leave, employee relations, non-compete and separation agreements, employee performance management, unemployment compensation, employee benefits, litigation avoidance, and more
  • Regularly defends clients before federal and state courts in employment-related litigation, and before federal and state agencies, including the Equal Employment Opportunity Commission, the Pennsylvania Human Relations Commission, and the Pennsylvania Unemployment Compensation Board of Review, as well as in employment-related litigation in federal and state court
  • Conducts regular seminars and client training sessions on various aspects of labor and employment law and legal compliance – from discriminatory harassment avoidance to wage and hour compliance to management of medical leave of absence and accommodation issues to the do's and don’ts of hiring and firing, and more
  • Wrote several publications and video blogs related to a variety of employment law topics, including minimizing exposure to discrimination and harassment claims, the importance of manager and supervisor training, social media pitfalls and best practices, wage and hour legal updates and issues, and more
  • Contributes to McNees’ labor and employment blog – www.palaborandemploymentblog.com.
  • J.D. degree, Wake Forest University School of Law; B.B.A. degree,The College of William & Mary
  • Admitted to the Pennsylvania Bar, the United States District Courts in Pennsylvania, and the Third Circuit Court of Appeal
  • Member of the Pennsylvania and Dauphin County Bar Associations; McNees’ Hiring, Legal Practice Management, and Women’s Network committees and board member of the YWCA Greater Harrisburg governing board
  • Can be contacted at 717-237-5248, [email protected] or on Twitter® @kelleyekaufman
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Why Lorman?

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Product ID: 400013
Published 2017
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