Summary
In California, severance packages are not legally required but must adhere to employment contracts and company policies if offered. The Older Workers Benefit Protection Act (OWBPA) provides individuals over 40 with 21 days to consider a severance package, extending to 45 days in group layoffs, and allows a 7-day revocation period post-signing. For non-severance agreements, revocation terms depend on the specific contract. COBRA coverage must be elected within 60 days of losing health insurance, with costs potentially reaching 102% of the total premium.Full Conversation
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In California, there are no specific laws requiring employers to provide severance packages. However, if an employer offers a severance package, it must comply with:
- The terms of the employment contract.
- Any company policies regarding severance.
- General contract principles.
Is there anything specific you need help with regarding severance packages?
no if a severance packages offered how long does a person over the age of * have to consider the severance package before signing or reject.
In California, under the Older Workers Benefit Protection Act (OWBPA), individuals over the age of * have at least 21 days to consider a severance package before signing or rejecting it.
Is there anything else specific you need help with regarding severance packages?
does that change when there are group layoffs.
In California, under the Older Workers Benefit Protection Act (OWBPA), individuals over the age of * have 45 days to consider a severance package in the case of group layoffs.
Is there anything else you need help with regarding severance packages?
is there anything that says what you sign (severance package or otherwise) for a company….you have a period of time to revoke.
In California, under the Older Workers Benefit Protection Act (OWBPA):
- Individuals over the age of * have 7 days to revoke their acceptance of a severance package after signing it.
Is there anything else you need help with regarding severance packages?
what if it is not a severance package. rather just something you are signing for the company?
If it's not a severance package but something else you're signing for the company, the revocation period may depend on the specific agreement and its terms. Generally, California law does not mandate a specific revocation period for all types of agreements.
Is there a specific type of agreement or document you're referring to?
are pensions taxed?
what is the 60 days eligibility period in respect to cobra?
Thank you for your patience. In California, the *-day eligibility period for COBRA refers to the time frame you have to elect COBRA continuation coverage after your health insurance coverage ends. Here are the details:
- You have 60 days from the date you lose coverage or the date you receive your COBRA election notice, whichever is later, to elect COBRA coverage.
Is there anything else specific you need help with regarding COBRA?
how much is cobra
The cost of COBRA coverage can vary widely and depends on the specifics of your previous employer's health plan. Typically, you may be required to pay up to *% of the total premium (both the employee and employer portions) for the health insurance coverage.
Is there anything else you need help with regarding COBRA?
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