Are companies required to provide severance packages?

by Administrator 16. June 2010 23:42
Severance packages are typically offered to employees who either retire or are laid off. While many companies offer such plans, they are not required by law to compensate their former employees with severance pay. 
 
Even if a company has a severance plan, all employees may not necessarily be part of the severance plan and entitled to its benefits. In many cases, firms have significant flexibility and power in adjusting their severance plans as they see fit.
  
If you or anyone you know has questions about a severance plan, contact the Houston severance plan attorneys of the Ross Law Group at 800-634-8042. 

How much time can you take off for maternity leave?

by Administrator 8. April 2010 04:24

When women become pregnant and have children, they often need time off from their job. This time off is often referred to as maternity leave. 

The stipulations for maternity leave are typically laid out in the employment contract. This contract will detail how much time the woman can take off and how much she will be paid. 

In some cases, women willl choose not to come back to work. In making this decision, women should be aware of provisions in their employment contract that outline how to end their employment during a maternity leave. 

If you or anyone you know has questions about maternity leave, contact the Houston employment contract attorneys of the Ross Law Group at 800-634-8042.

Houston makes list of top five cities for new jobs

by Administrator 18. March 2010 05:29

A recent study lists Houston, Texas as one of the top five cities for young professionals looking for a job.

Cities were considered for the ranking based on whether they had high job growth rates, affordable costs of living, and large percentages of employed college graduates. Houston currently has a job growth rate of 1.7 percent, while a majority of U.S. cities are struggling with having fewer jobs now than in 2005.

Houston has also experienced an annual 6.6 percent increase in per capita income. As one of the few places that has continued to grow throughout the recession, Houston is a promising city for college graduates looking for a job.

If you have questions regarding your employment status or new employee contracts, contact the Houston employment attorneys of the Ross Law Group at 800-634-8042.

Which employer-provided benefit plan is right for you?

by Administrator 3. December 2009 04:24

Many employers offer a variety of employment plans. These plans often include either qualified or unqualified plans.

A plan is considered to be a qualified plan if it meets a number of requirements. For instance, the plan must be offered from an employer to an employee. Also, the contribution amount by either the employer or the employee is limited by a number of provisions depending on the type of the plan. 

The advantage of a qualified plan for employees is that thay will likely not be taxed on conributions or earnings until they begin to make annual withdrawls.

If you or anyone you know has questions about their employer-provided employment plans, contact the Houston employment lawyers of the Ross Law Group at 800-634-8042.

Employment contracts with stock option incentives

by Administrator 19. November 2009 05:58

Some employees are compensated with stock options. These stock options often give the employee the right to buy multiple shares of the company's stock at a set price.

Employees will often exercise these options when the fair market value of the stock is greater than the set price. At that price, the employee can then buy the stock at a low price and then sell it for a higher price, thereby making a profit. 

While this profit will boost the employee's individual income, the employee may also need to pay taxes on this additional income. The amount of taxes will often depend on whether the original stock option was a qualified or unqualified stock option. 

In most cases, employees will pay higher taxes on unqualified stock options than qualified stock options. However, the amount will often depend on the original contract terms and the exercise date. 

If you or anyone you know has questions about their stock options, contact the Houston contract lawyers of the Ross Law Group at 800-634-8042.

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