When an organization faces the difficult decision of separating staff due to shifting goals, financial expectations, a major disruption like the COVID-19 pandemic or any other reason, it’s not easy for anyone. But an expertly constructed, tax advantaged severance solution can help organizations save money, while delivering 100% of base pay during the severance period.
Save money, reduce your administrative burden and redirect resources
Conduent’s Severance Solution® is a fully outsourced service that allows employers to redirect severance resources in higher-value ways.
The bottom line is more cash on hand to fund mission-critical expenses.
How it works
Through the Supplemental Unemployment Benefit (SUB) Plan and Trust, organizations eliminate FICA taxes, creating after-tax benefits for former employees while reducing their tax liabilities as an employer — resulting in:
- More equitable benefits across the population
- Reduced windfall payments
- Up to 40% savings for organizations
Turnkey services for easy plan management
We combine the expertise of tax and legal consultants, benefit advisors, administrators, customer care representatives and technology specialists to create a solution specific to your organization’s needs.
Count on our experience and technology to make difficult transitions easier.
Increased cash flow
for new programs
burden on your staff
white glove support