Illinois HB3820 mandates employers to provide severance pay to terminated employees based on their years of service.
HB3820 amends the Illinois Worker Adjustment and Retraining Notification Act to require employers to provide severance pay to terminated employees. Employers must give one week of pay for each full year of employment. If the employer fails to provide the required notification period, the employee is entitled to an additional four weeks of pay. Severance pay is considered compensation for back pay and losses associated with termination. Severance pay under this act is credited towards severance pay requirements.
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