Bonus Eligiblity
I was recently terminated from my job. The company has a policy regarding bonus payout that states you need to be employed with the company at the time the checks are distributed. My term date was January 9. Per the policy I will not be eligible for my 4th quarter bonus payout. Is this legal? If so, what are the laws regarding change to the policy. Last year the company made changes (payout amounts) to the policy without communicating to the management team. We were all affected negatively to the sum of several thousand dollars. We did not find out about the policy change until we received the checks. The company still has not distributed an updated bonus program memo. Is that legal? Thank you!
1 answer | asked Jan 17, 2004 9:52 PM [EST] | applies to Illinois
Answers (1)
In these types of cases, a lot depends on the contract. I suggest you have an employment attorney review what the structure is, as described by the contract. Wage collection are regulated by the Illinois Wage Payment and Collection Act, and this includes bonuses. But it all depends on what you agreed to, the policy, etc... Please contact an employment lawyer, since the documents are so important. Thanks.
posted by Carol Oshana | Jan 19, 2004 3:50 PM [EST]
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