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 Mexico 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 Santa Fe is obligated to make sure the employee receives any benefits that were guaranteed in a contract when the employee started their work. Sometimes benefits are paid directly by the employer, while other instances of benefits require voluntary contributions from the worker. Also note that there can be a standard minimum amount of time spent working for the employer in order for the employee to receive benefits.
What Employee Benefits are Protected by New Mexico law?
New Mexico laws require that employers providing medical plans for their workers perform certain legal duties. The employer must inform the employee about their health plans, and the employee is entitled to fair treatment in the review process of their claim. Some laws also permit employees who lose their jobs to continue receiving the health coverage they had with their previous employer while they seek new employment.
Regarding pension programs, Santa Fe employers owe their workers certain legal duties. First, the law requires the employer to deliver any benefits that were guaranteed within the pension program. Also, under a matched contribution plan, the employer must bear the risk of any investments that are made on behalf of employees.
How can a Santa Fe, New Mexico Pension and Benefits Attorney Help?
Santa Fe, New Mexico 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.