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Severance Pay

Policy No.: 3-16   This policy applies to:
Policy Name: Severance Pay

Non-exempt staff
Effective Date: 08/01/04

Exempt staff
Revised:     Faculty


Regular full-time employees of Loyola University New Orleans may, at the University’s sole discretion, be provided severance pay if the employment termination is initiated by Loyola and is for reasons that are not prejudicial to the University.

Specifically excluded from benefits under this provision are employees hired as temporary employees for a specified period of time or limited term employees. Severance pay is not paid to employees who are terminated for misconduct.

Severance pay will be paid in a lump sum.

The appropriate Vice President, the Director of Human Resources, and the immediate supervisor must approve all severance packages before the employee is offered severance pay. Severance pay is at the discretion of the University and is dependent upon the circumstances surrounding the termination. Generally, a “release of claims” is required as a condition for severance pay.

If severance pay is to be offered, a staff employee may be considered for severance pay in accordance with the following schedule:

Less than 1 year
1 year to 3 years
4 years to 6 years
7 years to 11 years
12 years to 16 years 
17 or more

Up to 5 working days
Up to 10 working days
Up to 15 working days
Up to 30 working days 
Up to 45 working days
Up to 60 working days