Benefits and pension arrangements are part of both the hiring procedure as well the retirement or termination process. The laws of the state of New Jersey regulate how employers can distribute health and retirement plans; beneficiaries and recipients of such plans can file their claims under such laws.
In addition, the employer in Monmouth County is obligated to make sure the employee receives any benefits that were guaranteed in a contract when the employee started their work. Also, employers bear the risk of any investments that are made on behalf of an employee according to a matched contribution plan.
What Employee Benefits are Protected by New Jersey law?
Under New Jersey law, employers who provide employees with medical plans owe them specific legal duties. For instance, they must disclose important health plan information, and employees must be provided with a fair process when reviewing their claims according to the plan. For employees who lose their jobs, there are some laws that allow them to continue the health care plan they had with their prior employer while they actively look for a new job.
Employers in the city of Monmouth County also owe their employees legal duties with regard to pension plans. First, the law requires that they provide any benefits that were guaranteed to their employee in any given benefit agreement. Also, the employer must bear the risk on any investments which are made on behalf of a worker according to terms in a matched contribution arrangement.
How can a Monmouth County, New Jersey Pension and Benefits Attorney Help?
Monmouth County, New Jersey lawyers can help an employer in creating a pension plan that complies with applicable laws. Attorneys also often assist employees when difficulties arise with obtaining the benefits under a plan.