Compulsory retirement, also known as mandatory retirement, refers to being forced to resign from one's employment at an age specified by union contract or company policy. This practice has evolved significantly with changing laws and regulations.
Federal legislation that requires group health plans sponsored by employers with 20 or more employees to offer continuation of health insurance coverage to employees and their dependents after they leave their jobs. Employees must pay the entire premium plus up to 2% administrative costs.
The Federal Unemployment Tax Act (FUTA) establishes the structure and guidelines for employers to contribute to the federal unemployment insurance system, ensuring support for individuals during periods of unemployment.
