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Second Circuit Creates Three-Part Test for Determining Whether Severance Policy Falls Under ERISA
Reid and Riege, P.C.Link to more items from this source
July 31, 2015
"The Court established three factors that courts will consider when deciding the ultimate question of whether a particular undertaking is an ERISA 'plan, fund, or program:' '[1] whether the employer's undertaking or obligation requires managerial discretion in its administration; [2] whether a reasonable employee would perceive an ongoing commitment by the employer to provide employee benefits; and [3] whether the employer was required to analyze the circumstances of each employee's termination separately in light of certain criteria.' " [Okun v. Montefiore Medical Center, No. 13-3928 (2d Cir. July 17, 2015)]

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