Benefits and pension arrangements are part of both the hiring process as well the retirement or termination process. The laws of the state of New Mexico regulate how employers may distribute health and retirement plans; beneficiaries and recipients of such plans may file their claims under such laws.
In addition, the employer in Bloomfield is required to make sure the employee receives any benefits that were guaranteed in a contract when the employee started their work. While some benefits are paid by the employer, others involve voluntary employee contributions. Additionally, employers often require that the employee work for a minimum amount of time with them before they are eligible to receive benefits.
What Employee Benefits are Protected by New Mexico law?
Under New Mexico law, employers who provide employees with medical plans owe them particular legal duties. For example, they must disclose important health plan information, and employees must be provided with a fair process when reviewing their claims according to the plan. Furthermore, some laws let employees who are out of work receive health care from a previous employer's plan while they are looking for a new job.
Employers in the city of Bloomfield also owe their employees legal duties with regard to pension plans. First, the law requires that they provide any benefits that were promised to their employee in any given benefit agreement. Furthermore, it is the employer who must bear the risk of any investments that are made on behalf of an employee under a matched contribution plan.
How can a Bloomfield, New Mexico Pension and Benefits Attorney Help?
Bloomfield, New Mexico lawyers can assist an employer in creating a pension plan that complies with applicable laws. Attorneys also often help employees when difficulties arise with obtaining the benefits under a plan.