erisa

Employers pay severance benefits to terminated employees in a variety of different arrangements. Such benefits can be based on informal company practice, commitments in employment contracts, or benefits provided through a formal policy or written plan. Some of these arrangements are not “plans” for purposes of ERISA, the federal pension law. For example, a payroll […]

Incentive compensation arrangements include an array of employee benefits such as deferred compensation plans, long term incentive plans (“LTIPs”), phantom equity plans, equity option plans, bonus plans and the like. These arrangements are intended to provide compensation incentives and to encourage continued employment. Many employers maintain one or more of these arrangements in order to attract and retain their valued […]