severance pay

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Related to severance: severance agreement

severance pay

Money paid to an employee upon termination of his or her employment.
References in periodicals archive ?
My associates and I are thrilled to be joining forces with Ryan to provide world-class severance tax services to our long-standing clients," said Mr.
deciding that severance payments employers made to laid-off employees are "wages" and are taxable under FICA.
So, the current severance pay system benefits a minority of workers while encouraging informality in the economy.
Figures for each authority included: | Middlesbrough - 280 severance packages at a total cost of PS3.
Fine Gael leader Enda Kenny refused to hand back his EUR40,000 ministerial severance payment, which he got when he left Government in 1997.
Kelly and her severance is deeply troubling news," Grassley, an Iowa Republican, said in a letter to Feinberg.
While there have been some notable examples of excessive CEO severance packages, our research shows that these cases are not indicative of the vast majority of companies," said Don Lindner, CCP, executive compensation practice leader for WorldatWork.
The company is believed to have informed five former top executives that they would not be paid what was promised as severance pay.
But I don't think many people truly comprehend how microscopic Arkansas' current severance tax is.
And although many companies provide severance pay, a 2005 Lee Hecht Harrison survey reported that minimum severance amounts have remained about the same at all levels of employment, while averages have fluctuated only slightly.