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    gomer1444's Avatar
    gomer1444 Posts: 1, Reputation: 1
    New Member
     
    #1

    Feb 1, 2009, 03:39 AM
    Severance Pay, ERISA
    I am an Executive with 3 years at a firm. I was summarily terminated. No notice, no reason. No fraud, no embezzlement, not anything along those lines. I got caught up in some political matters. I am 60 years old. My contract calls for a one year salary severance package paid in bi-weekly installments. This wordage is exactly what is in my contract.


    I subsequently agreed to a limited amount of severance pay based on two conditions. One was the request of 2 written letters of commendation and recommedation and the other was payment for my Cobra benefits. The company notified me the same day of my writing my request that the request is denied. They would not comply with either of my requests. Of course, no proof as to the conversation regarding the denial except for cell phone numbers.

    My severance payments were stopped in 5 months.

    Question is #1 Other than a prolonged legal battle is there any way to obtain some further financial assistance from them.

    Question #2. Since the severance payments were for 5 months, are these wages eligible for pension plan benefits. The pension plan is silent with regard to this matter.
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
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    #2

    Feb 1, 2009, 10:57 AM

    I don't know that this would be a prolonged legal battle. You apparently had an employment contract which they violated. I am, of course, assuming that they did not negotiate with you for the letter of recommendation and did not comply with your request. You certainly need an Attorney and perhaps Wage/Hour would be interested. It's an employment violation.

    I've never seen the severance pay count toward a pension because in theory you are no longer an employee when you get the severance pay.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #3

    Feb 1, 2009, 12:14 PM

    Is the company still in business? Severance pay may be stopped due to bankruptcy. Other than that, you would seem to have an ironclad case for the severance.

    Judy is right about the severance not counting towards pension.

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