Whether you leave your job voluntarily or through a termination or lay off, there are a number of loose ends you will want to tie up as you walk out the door. You also may want to take advantage of some important legal rights -- including the right to receive your final paycheck relatively quickly and the right to continue your health insurance coverage. Some employees also have the right to receive severance packages: money and/or benefits provided by their employers.
Most states require employers to give departing employees their final paychecks in fairly short order -- sometimes on their last day of work. In some states, these time limits vary depending on whether the employee quit or was fired. Many employers break these laws out of ignorance. But violating these laws -- even unwittingly -- can be costly. In some states, if an employer fails to pay a departing employee within the legal time limits, the employer may have to pay additional penalties, interest, and any attorneys' fees and legal costs the employee spends in forcing the employer to comply.
The Consolidated Omnibus Budget Reconciliation Act, known as COBRA, is a federal law that allows employees to continue their employer-provided health insurance after they are laid off or fired, or they otherwise become ineligible for benefits (for example, because they quit or their hours are reduced
If you lose your job, you may be worried about the health insurance coverage you receive through your employer. A federal law, the Consolidated Omnibus Budget Reconciliation Act (COBRA), gives eligible employees the right to continue their health insurance if they would otherwise lose that opportunity
If you are fired or laid off, your employer may ask you to sign a release: a contract in which you agree to waive (give up) your right to sue the company in exchange for some benefit, typically severance pay. Before you give up your legal rights, you should make sure you understand the release, and carefully consider whether you are being offered enough to give up any legal claims (i.e. a wrongful termination lawsuit) you may have against the company.
I am about to leave my job as sales representative for a California plastics company. Much of my compensation has been in the form of commissions. The company told me it won't include my commissions in my final paycheck -- I'll have to wait several months before I see the money. Can they do this?
I was fired from my job in California yesterday. When does my employer have to give me my final paycheck? And what about accrued vacation time -- I've earned 15 days of vacation, but didn't get a chance to take them off before I got fired.
I had a 401(k) plan with a company that is now defunct. The company that used to administer the plan doesn't anymore, and it won't give me any information. I called the Department of Labor, but it was of little help. How do I find my money?
Pension plans became popular during the Second World War, when there were more jobs than workers. Employers used fringe benefits such as pensions to attract and keep workers without violating the wartime wage freeze rules. Since the early 1950s, unions and employers have both recognized pension plans
There are many ins and outs to the Social Security retirement benefit system—most of them dependent on factors such as the type of job you hold, the length of time you work, and the age at which you retire. This article provides some basic information on Social Security retirement benefits. For more