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Severance pay

Q

What are the policies and formulas for severance pay? Would you provide
several representative examples of severance pay?

Answered on May 27, 1997

A

The policies and formula for severance pay are found in the UCAR Policies
and Procedures Manual under section 2-3-5, Termination, provision 4,
Severance Pay and Notice. It can also be found at
http://www.fin.ucar.edu/polpro/section6/6-7.html.

As far as examples:

* An employee with 5 full years of service would be eligible for 7
weeks of severance or notice.

* An employee with 10 full years of service would be eligible for 17
weeks of severance or notice.

* Employees with 13 or more years of service would be eligible for the
maximum of 26 weeks.

We include all service when calculating the amount of severance or notice,
so that partial years are counted. Please note that all of policy 2-3-5 is
under review and there may be some modifications in the future. If the
policy changes, all employees will be notified.

•Bob Roesch, Director, Human Resources