Illinois Severance Pay Lawyers
Assisting Clients With Severance Matters in Illinois
Easy 4 Step Process for Illinois Severance Packages Review
Step 1.
Call us or email your agreement to info@severance-lawyers.com.
Step 2.
Our office will schedule a date and time for the meeting (either in person, via Zoom, or by phone). All meetings can be scheduled within 24 hours.
Step 3.
Our Illinois severance package lawyer will conduct a thorough review of the agreement before discussing it carefully with you and answering your questions.
Step 4.
Our Illinois attorneys will send you a detailed email regarding any changes, revisions, or other items in your Illinois severance package that need addressing with your previous employer. You will then have the option to negotiate with your employer directly on your behalf to retain us to negotiate for you to try to improve the terms and amount of severance pay.
Severance and Employment Law in Illinois
A severance or separation agreement in Illinois normally offers an employee money and often a benefit that he would otherwise not be entitled to when leaving a job. This agreement is a contract wherein the employee gives up some of his rights to sue, file an administrative complaint, and/or use confidential company information and business contacts in future employment in return for additional compensation.
In Illinois, severance agreements are subject to the provisions of the Illinois Wage Payment and Collection Act. This act states that employers must provide employees with a written severance agreement in order to receive any form of payment, or other benefits, related to termination of employment. The agreement must include a statement acknowledging that the employee is aware of their rights under the Act, as well as any applicable state or federal laws. Additionally, employers are required to notify their former employees in writing when and how their severance pay will be issued.
Under the Act, an employee can be eligible for up to 60 days of unpaid wages in addition to their lump-sum payment when they accept a severance agreement. Finally, employers must also provide appropriate notice before making any changes in pay or benefits associated with a severance package. Knowing these rights is key for those receiving Illinois Severance Pay as it helps ensure that they get the most out of what is agreed upon between employer and employee.
What Should Be Included in a Severance Agreement?
When negotiating a severance agreement with your employer, be aware that you do have a say in the terms and the amount of compensation you are willing to accept. This is often supported by leverage you possess of which you may not even be aware. In these situations, it’s quite helpful to have the counsel of an experienced Illinois Severance Attorney to ensure that your rights are protected and that you attain the most beneficial arrangement possible.
Some of the provisions that should be included are:
Severance pay
This provision should outline how much and when severance pay will be issued, including any unpaid wages that may be due in addition to the lump sum payment.
Medical benefits
If applicable, this provision should define the type of health insurance plan provided for a certain period of time (e.g., COBRA) and any other medical benefits related to termination, such as dental coverage or life insurance policies.
References
Employers may agree to provide an employee with positive references as part of their severance agreement so that they can help secure future employment opportunities. This is an important element for those who are leaving a role without another job lined up already.
Dispute resolution
In order to avoid costly litigation costs, employers typically include language in separation agreements that requires both parties to attempt mediation before pursuing further legal action if they disagree on any aspect of the agreement going forward.
Confidentiality
Employers often require their employees not disclose confidential business information or use proprietary processes after separating from their company as part of a severance package negotiation process.
How to Calculate Severance in Illinois
When offered a severance package, it’s crucial that you not be overwhelmed by dollar signs, so that you don’t blindly accept the first offer presented to you. Otherwise, you may later find that you’ve given up some very valuable rights for insufficient compensation. For example, you may have been terminated unlawfully, but you surrendered your right to sue in your separation agreement. However, when drafted properly, these agreements can be a very helpful and advantageous tool. It’s important to review your agreement with a severance specialist.
A severance lawyer in Illinois can help you calculate your severance and what you're rightfully owed. A knowledgeable attorney will review the terms of the agreement to ensure that your rights are protected and that you're receiving a fair amount based on the details of your situation. They will consider elements such as tenure, age, and other factors that may come into play.
What Are My Rights in Illinois?
Illinois does not have laws that require employers to offer severance agreements to their employees, except when it's stipulated in a contract. This can be challenging for first-time recipients of severance pay. Despite this, recent laws like the Workplace Transparency Act have made it so that those signing severance agreements and releases have greater rights, including 21 days to consider the agreement and a 7-day window to revoke acceptance of an agreement.
Severance agreements are designed to protect the interests of employers, but as an employee, you have rights that allow you to carefully review the agreement and negotiate for the benefits you deserve. To ensure that you receive a severance package that meets your needs, it is important to work with experienced Severance Lawyers who understand your rights in Illinois and can effectively negotiate on your behalf.
Why Choose Us?
Our team at Severance Lawyers has over ten years of experience in reviewing and negotiating severance agreements. We are proud to have been recognized on the Super Lawyers List for Employment Law and the Super Lawyers Rising Stars for Employment Law. Our skilled team in Illinois focuses specifically on Illinois severance agreement requirements and severance pay to ensure that you receive all the benefits you are entitled to.
We offer a 24-hour response to initial inquiries. Our goal is for you to understand your agreement completely so you can either negotiate with your employer directly or retain a Severance Lawyer to negotiate on your behalf. You have the right to review your agreement and ask questions. Don’t delay. Speak to a qualified Illinois Severance Pay Lawyer by calling (800) 466-5015 today.
Our Illinois Severance Attorneys Serve the Following Communities:
- Adams County
- Alexander County
- Bond County
- Boone County
- Brown County
- Bureau County
- Calhoun County
- Carroll County
- Cass County
- Champaign County
- Christian County
- Clark County
- Clay County
- Clinton County
- Coles County
- Cook County
- Crawford County
- Cumberland County
- DeKalb County
- De Witt County
- Douglas County
- DuPage County
- Edgar County
- Edwards County
- Effingham County
- Fayette County
- Ford County
- Franklin County
- Fulton County
- Gallatin County
- Greene County
- Grundy County
- Hamilton County
- Hancock County
- Hardin County
- Henderson County
- Henry County
- Iroquois County
- Jackson County
- Jasper County
- Jefferson County
- Jersey County
- Jo Daviess County
- Johnson County
- Kane County
- Kankakee County
- Kendall County
- Knox County
- Lake County
- LaSalle County
- Lawrence County
- Lee County
- Livingston County
- Logan County
- Macon County
- Macoupin County
- Madison County
- Marion County
- Marshall County
- Mason County
- Massac County
- McDonough County
- McHenry County
- McLean County
- Menard County
- Mercer County
- Monroe County
- Montgomery County
- Morgan County
- Moultrie County
- Ogle County
- Peoria County
- Perry County
- Piatt County
- Pike County
- Pope County
- Pulaski County
- Putnam County
- Randolph County
- Richland County
- Rock Island County
- St. Clair County
- Saline County
- Sangamon County
- Schuyler County
- Scott County
- Shelby County
- Stark County
- Stephenson County
- Tazewell County
- Union County
- Vermilion County
- Wabash County
- Warren County
- Washington County
- Wayne County
- White County
- Whiteside County
- Will County
- Williamson County
- Winnebago County
- Woodford County
Contact Severance Lawyers today to get started with our Illinois severance attorneys.
Client reviews
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- Al W.
This law firm helped me achieve the results that I needed. Would recommend Paul to anyone that feels as though they have been wronged and need legal guidance and assistance.
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- Wendy G.
My experience with Severance Lawyers was excellent. They gave my case all the time and attention that was needed to be successful. They were a calming and confident presence during a difficult and uncertain time for me. Their guidance was outstanding at all times, prompt, professional, timely and open for calls and quick updates. They invested the time to work through all of my questions and issues. I can’t thank them enough and would hire them again.
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- Michelle M.
Tom and his staff understand the law very well. They are quick to return calls, take the initiative, and explain things in a way I can understand. From start to finish Tom was there to help me out every step of the way with our case. I am glad to have Tom and his team on my side. I simply cannot thank them enough!
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- Tucker W.
I found myself in a challenging & stressful situation that required legal representation and their attorney Paul Castronovo handled it beyond my expectations. Paul is incredibly experienced/knowledgeable and I just felt like I was in good hands the entire time. Paul has a calming demeanor too–which is helpful in these stressful situations. Paul helped turn my lemons into lemonade.
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- Sweta M.
Tom McKinney’s prompt attention, articulate and comprehensive advice addressed my Employment Agreement related issue. His confidence shined through instilling the confidence in me and peace of mind having him by my side. If you’re dealing with the proverbial ‘blood sucking’ company, look no further than Tom’s voice of reason.
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- Austin S.
Going to Tom and his team for my case was the best decision I made. He was professional and knowledgeable in employment law. He helped me reach a resolution and I could not recommend him enough for anyone else out there.
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- Sean C.
Tom McKinney is one of the best attorneys that I know…whether to negotiate on your behalf or reviewing your agreement to make sure you are getting maximum value for your compensation. From stock options to deferred compensation. I have referred him to friends in NJ and NY.
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- Joe K.
I had Tom review my severance agreement. He provided a lot of valuable insight. I was able to go back to my employer with various points and double my package. Tom was prudent in having me use his services (told me to go back to my employer before fully engaging him) and I did not overpay when not needed. Other lawyers could have easily taken advantage of my situation and over-lawyered the situation.
Have Questions?
We Have Answers!
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How long do I have to sign the severance documents?
When companies terminate employees and provide a severance package, the goal of the severance is to benefit both the company and the employee. Therefore, the employee has time to review the agreement. Review timelines depend on employee age and the number of people terminated simultaneously.
- Employees under the age of 40 – No set time frame, but it must be reasonable and ample enough to review and understand the components.
- Employees over the age of 40 – 21 days to review and sign and 7 days to reconsider and revoke your signature.
- Multiple terminations at once – 45 days to review and sign and 7 days to reconsider and revoke your signature.
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How is severance pay calculated?
Several factors go into severance pay amounts. Employees in higher management positions may receive additional benefits like longer pay terms, office equipment, or medical benefits.
Typical payouts can last up to 26 weeks and go by the following calculations:
- Hourly Employees: Number of years with company X 1 week of regular pay = Severance Pay $ Total
- Salaried Employees: Number of years with company X 2 weeks of regular pay = Severance Pay $ Total
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Am I entitled to severance pay?
No, most companies provide a severance agreement when they lay off or fire an employee. Offering a severance package is entirely optional for the company. Most companies only do it to protect themselves from future lawsuits, the employee going to a competitor company, or adverse claims from the employee. The company takes multiple factors into account when preparing the packages.
