Anonymous
Anonymous asked in Business & FinanceTaxesUnited States · 1 decade ago

If you already have a severance package with Lehman will they still honor it?

8 Answers

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  • Sassy
    Lv 7
    1 decade ago
    Favorite Answer

    If you have the documentation, they should still honor it

    Source(s): =
  • 1 decade ago

    Pensions may be partially covered through the Pension Benefit Guarantee Fund, but severance packages are treated as any other unsecured debt. Unpaid employee wages take front stage. Taxes come next, followed by unsecured debts. Unless your severance was covered by third-party insurance it's not likely that you'll see much. Statistically your chances on it are not good.

  • 1 decade ago

    I would take a deep breath, go find the original severance papers and read the fine print....some companies have a clause in there that states if they go bankrupt, get sold, etc. etc they dont have to honor the original agreement.

    Good luck.

  • Nikki
    Lv 4
    1 decade ago

    Probably not - my friend is owed a $3,000 paycheck and she just got told today she won't be receiving it, so I wouldn't hold my breath for that severance package to continue. Plus, she was one of the interns they "hired" for next year...now she has to find another job...in finance...after interning at a now-defunct company.

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  • 1 decade ago

    I don't believe they are obligated to. You may still receive pension through the Pension Benefit Guaranty Corporation if a pension was part of the terms of your agreement.

    http://www.pbgc.gov/

    Source(s): UCF grad student, Pol Sci
  • Anonymous
    1 decade ago

    nothing is still clear at this point, however it will all unfold in the next couple of days and you will be able to contact them and ask

  • 1 decade ago

    sorry to hear about that...they should honor it. it is policy...good luck!

  • Anonymous
    1 decade ago

    I don´t think so.

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