What are the laws governing severance pay?

In Florida, severance pay is regulated by the Florida Statutes and U.S. Federal Law. Severance pay is a form of compensation given to an employee upon the termination of their employment. In the state of Florida, there are no specific laws that require employers to provide severance pay. Additionally, there are no laws in the state that set forth a standard of severance pay. However, employers in Florida may choose to offer severance pay, and if they do, they must abide by the standards set out by the Fair Labor Standards Act. Under the FLSA, employers must pay employees at least minimum wage and overtime pay for hours beyond 40 hours per week. Additionally, employers must comply with the Age Discrimination in Employment Act of 1967, which prohibits employers from discriminating against older workers when determining severance pay. Furthermore, if an employer offers a severance package, they must honor the terms of the package. If an employer fails to provide an employee with the severance package agreed to prior to termination of employment, they could be subject to legal action. Employees who feel they have not been provided with their agreed upon severance pay may contact the Florida Department of Economic Opportunity, which enforces labor laws in Florida.

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What are the laws governing severance pay?

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