Benefits and pension arrangements are part of both the hiring process as well the retirement or termination process. Health plans and pension arrangements are regulated by New York law. Those who receive these plans can file their claims under such laws.
Binghamton employers also owe legal duties to those given pension programs. First, they are legally bound to provide the benefits that were promised under a set benefit plan. While some benefits are paid by the employer, others involve voluntary employee contributions. Furthermore, 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 York law?
Under New York law, employers who provide employees with medical plans owe them certain 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. Also, 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 Binghamton 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. Secondly, 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 Binghamton, New York Pension and Benefits Attorney Help?
Lawyers in Binghamton, New York can help an employer in drafting a pension plan that is in compliance with the respective law. An attorney can also help employees in negotiating unforeseen difficulties arising out of a benefits plan.