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Our Company "M" was acquired/bought by Company "O".
In company M's retirement plan, it states that if you term/service is:
0-5 years, you will get 25% of your basic salary multiply by number of years of service.
6-10 years, you will get 50% of your basic salary multiply by number of years of service.
Company "0" would want us to have an early retirement.
Now, our accounting is saying that the 25% and 50% would be 20% and 30% respectively. just because we are given an early retirement.
Is there a law which is specific to company aquisitions and its separation pay?
In company M's retirement plan, it states that if you term/service is:
0-5 years, you will get 25% of your basic salary multiply by number of years of service.
6-10 years, you will get 50% of your basic salary multiply by number of years of service.
Company "0" would want us to have an early retirement.
Now, our accounting is saying that the 25% and 50% would be 20% and 30% respectively. just because we are given an early retirement.
Is there a law which is specific to company aquisitions and its separation pay?
