Calif. lawmakers seek to curb lump-sum severance payouts

12/21/2012 | Bloomberg Businessweek

Republican state senators in California are crafting legislation aimed at halting a practice by which employees can build up large severance payouts by accruing vacation time and other paid leave. California's obligation for accumulated time off was $3.9 billion last year, according to data gathered by Bloomberg. One employee had a severance payout of $609,000 in 2011, Bloomberg found.

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