November 9, 2005 |
Posted By Diane Pfadenhauer |
Early Retirement Incentive Programs
When organizations are faced with the need to reduce their workforces, they often immediately think of layoffs. Early Retirement Incentive Programs (ERIP), however, are often a viable alternative to traditional layoffs and less disruptive to organizations. So, why don't people think of an ERIP more often? Well, when you put actuaries, plan administrators/fiduciaries and benefits lawyers in a room together, the results usually completely overwhelm anyone else there! So, my colleague, Heidi Hayden, and I have prepared this step-by-step guide which will serve as a road map for any organization considering any ERIP. Happy reading (it's a LONG one)!