OWBPA

AcronymDefinition
OWBPAOlder Workers Benefit Protection Act of 1990 (amended the Age Discrimination in Employment Act of 1967)
References in periodicals archive ?
If you look at the case law regarding the requirement that the waiver must be knowing and voluntary, many of the factors the courts take into account are similar to the requirements imposed by the OWBPA," she points out.
The information about groups, eligibility factors, job titles, and ages in the 45-day OWBPA waiver agreement is calculated to allow an employee (and his lawyer) to determine whether he could have at least a colorable age discrimination claim, either disparate treatment or disparate impact.
Another difficult aspect of the attachments and information required for a 45-day OWBPA release is determining the appropriate group of affected employees to disclose in the attachment to the waiver agreement.
In addition, the OWBPA limited offsets of pension benefits against severance payments, raising the cost borne by employers when involuntarily terminating older workers.
The OWBPA provides that the following conditions must be satisfied for a waiver to be knowing and voluntary:
In addition, employers should be careful not to violate the Employee Retirement Income Security Act (ERISA) and OWBPA, both of which may come into play in the event of a work force reduction.
The OWBPA provides that if the worker is able to show that the waiver was invalid, he or she can pursue remedies under the ADEA, such as back pay, attorneys' fees, and "equitable relief," including reinstatement and promotion.
Perhaps one of the provisions that the OWBPA is best known for is its treatment of waivers of liability of ADEA claims by an employee against an employer.
Title II of OWBPA amends the federal Age Discrimination in Employment Act (ADEA).
As a result, ADEA no-suit and similar agreements are subject to the requirements and restrictions of the OWBPA just like any other ADEA waiver provision.
Any release that does not comply with the OWBPA cannot be used to bar an employee's ADEA claim.
OWBPA amends the Age Discrimination in Employment Act (ADEA) and declares that ADEA prohibits discrimination against older workers in all employee benefits except when age-based reductions in employee benefit plans are justified by significant cost considerations.