Randall & Hurley, Inc.
Loren D. Stark Company
EPIC Retirement Plan Services
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|Is a Severance Policy More Like an ERISA Plan, a Writing Desk, or a Raven?|
DLA Piper LLP via Lexology
Nov. 13, 2015
"[If] the administration of a severance policy requires a measurable amount of discretion, you can bank on it being treated as an ERISA plan.... Having a severance policy governed by ERISA is not a crisis, but an opportunity. Instead of waiting for a court to apply those factors and decide for you, why not just go ahead and make sure that your severance policy is an ERISA plan? Yes, it's true that ERISA requires administrative hurdles, but these are relatively straight-forward ... These administrative requirements are outweighed by ERISA's advantages."
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