Early retirement plans and the ADEA/OWBPA

[Guest Sheila Williams]

Is an early retirement plan which provides benefits for: five years, until the retiree reaches age 62 or until total benefits equal $40,000 -- whichever occurs FIRST, violative of the Age Discrimination in Employment Act (ADEA) or the Older Workers Benefit Protection Act (OWBPA)?

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Sheila Williams

[Guest Keith N]

Gee, I think we need some more details. Is this a Defined Benefit Plan or a Defined Contribution Plan? Is it qualified? Does it have a determination letter? Are they contemplating adding this as a new Early Retirement provision? What is the current normal retirement age?

Why do you feel there may be a problem under ADEA?