What are the laws governing the payment of severance pay?

In the District of Columbia, severance pay is governed by the DC Wage Payment and Collection Law. This law states that employers must provide severance pay to employees who have been involuntarily separated from their job or laid off as a result of a reduction in force. Severance pay is in the form of either a lump sum or a series of payments over a period of time. The amount of the severance pay is based on the number of years of service the employee has with the employer and the employee’s wages. The law also states that employers must provide employees with a written notice of the severance pay at least three days before it is due to be paid. This notice must include the date the severance pay is to be paid and the amount of the payment. The payment must be made in the form of a check within two business days of the date specified in the notice. Additionally, the law requires employers to keep records of severance pay payments for at least three years. This includes the date of the payment, the amount of the payment, and the name of the employee who received the payment. Furthermore, the employer must also provide employees with a written statement after the payment is made. This statement must include the amount of the payment, the date it was paid, and the name of the employee who received it.

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What are the laws governing the payment of severance pay?

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