April 20, 2015
Hope Eastman Authors SHRM Article “Early Retirement Incentive Programs: Do’s and Don’ts”
An early retirement incentive program (ERIP), such as the one recently announced by USA Today, is one of the tools companies use to strategically adapt to their changing workforce needs.
The hallmark of these plans, as Hope Eastman notes in “Early Retirement Incentive Programs: Do’s and Don’ts,” is that they are incentives that employees can choose or not. Hope further explains that care needs to be taken with all such retirement-based programs to comply with the Age Discrimination in Employment Act (ADEA) and the Older Workers Benefit Protection Act (OWBPA), which was added to the ADEA in 1990.
The full article, “Early Retirement Incentive Programs: Do’s and Don’ts,” can be found on the Society for Human Resource Management website.
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