Older Workers Benefit Protection Act (OWBPA)

Definition from Nolo’s Plain-English Law Dictionary

An amendment to the Age Discrimination in Employment Act (ADEA), the OWBPA is a federal law that requires employers to offer older workers (those who are at least 40 years old) benefits that are equal to or, in some cases, cost the employer as much as, the benefits it offers to younger workers. The OWBPA also sets minimum standards for an employee waiver of the right to sue for age discrimination, designed to ensure that the waiver is knowing and voluntary.

Definition provided by Nolo’s Plain-English Law Dictionary.