How Age Discrimination in New York Can Ruin Your Life
A few days ago, the Wall Street Journal ran an article entitled "Out of Work, Out of Options and Over the Hill." The piece focused on 55 year old Henry Dietz who has been out of work for 20 months and is now nearly broke. He has tapped out his retirement savings and will soon be unable to pay his mortgage or the college tuition for his kids. He may have to move back in with his mother. He has no job prospects.
Losing your job in New York in your 50s or 60s can be devastating today because new jobs are very hard to find for those in this age group. As the article explains, life as you know it can be over. A drastic change in life style can result. The lesson here is two fold. First and most importantly you should focus on saving money so that you can maintain your lifestyle even if you lose your job, but this may not be possible. Second, if you do lose your job in your 50's or 60's and suspect that age bias was a factor, then seriously consider taking action. Since financial devastation can result, it does not make sense to walk away anymore.
Age discrimination cases have the highest median recovery amount. According to a study by Jury Verdict Research, the median age discrimination verdict from 2003 to 2009 was $332,577. The study found that the probability range for these cases was $85,750 to $775,000. The actual range of recoveries was $25,000 to $53,885,000. As you can see, the verdicts can be substantial in these cases and the higher your salary the higher the award.
Since significant financial recoveries are possible in age discrimination cases, it can pay to challenge your termination if age discrimination was a factor.
