Why Do I Have to Wait 21 or 45 Days to Accept My Severance Agreement?

Your employer must provide you with 21 (or 45) days to accept the agreement and 7 days to revoke the agreement after signing in order for there to be a valid waiver of your potential claim for age discrimination. This is required pursuant to the Older Workers Benefits Protection Act and is designed to prevent employers from forcing employees to make immediate decisions regarding waiving their rights. Notwithstanding the 21 (of 45) day waiting period, you may accept the offer before the end of the waiting period.

January 12, 2011 – Castronovo & McKinney – Tom McKinney