So, if a BOA meets the Rule of 70, but has just been terminated (to make way for a younger person), can they still keep their LLP?
3 replies (most recent on top)
If the person meets the rule of 70 they should be able keep the LP. However, that's always with good standing,etc... If they say they will just retire then they should able to keep it.
@OP, I would personally take the LP and invest elsewhere.
VSP has a clause for LP, I believe ISP do too as the circumstances are not "for cause" termination. If it's a termination, not a layoff, those are not relevant. The type of departure changes the rules. I would assume "termination" does not keep LP.