ERIP Basics

ERIP stands for Early Retirement Incentive Plan. Employers have been using ERIPs for years—they’re an effective way to influence the workforce and even sometimes to avoid implementing a layoff.

Early Retirement Plans: Win-Win IF You Follow Rules

ERIPs are a win-win, the attorneys say, because: Employers benefit from reducing wages and other costs associated with senior workers, and avoid the negativity associated with a RIF Employees benefit because a portion of that cost savings is passed to retiring workers who can retire earlier than they otherwise might. Anderson, a member of Miller […]