Severance Pay

Severance pay is compensation that is paid to a qualified employee who has his or her employment "severed." It compensates an employee for losses (such as loss of seniority) that occur when a long-term employee loses his or her job. This resource includes these topics:

  • When Severance Occurs
  • Employee Resigns After Receiving Notice of Termination
  • Qualifying for Severance Pay
  • Calculating Severance Pay
  • When to Pay Severance Pay