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Retirement package
RETIREMENT PACKAGE

Definition: (informal) Benefit that is legally due and which is paid out to a person, on the voluntary disengagement from, or compulsory termination of, an employment.
______________________________________________________________________


* All seven elements should be in.


1. Purposeful and necessary.
_____________

HAVE IT.
Below the Line
1. Amount or sum is as previously negotiated and/or agreed to/on between the employee and employer, as contained in written document(s), terms or letters of employment etc.

2. Document or agreement stating the benefits to be received, on leaving the employment, was voluntarily agreed to by both parties (connect to #1 below the line).
_________________________________

a. specific.

b. ‘realistic’.

c. assessable.

d. measurable.
____________

WHAT?


3. Received timely by the retiring employee.

4. Received fully and completely, as in the terms of agreement or engagement.
_____________

CORRECT.


further below the line


1. Serves purpose(s).

2. Reviewable as, or if, required by the law - to meet changes or developments in the economy: inflation, recession, etc.
_________________________________

WHATEVER THE TOTAL PACKAGE.

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