Benefits and pension arrangements are part of both the hiring procedure as well the retirement or termination process. Health plans and pension arrangements are governed by New York law. Those who receive these plans can file their claims under such laws.
Additionally, if a Fulton employer guaranteed any benefits to the employer in a contract when work began, they must make good on these. 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 York law?
Employers who provide medical plans to their employees owe them specific legal duties according to the laws of New York. They are required to disclose all important details of the medical coverage, and employees who file a claim are entitled to fair treatment in the processing of their complaint. 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.
Regarding pension programs, Fulton employers owe their workers specific legal duties. First, the law requires the employer to deliver any benefits that were guaranteed within the pension program. Moreover, under a matched contribution plan, the employer must bear the risk of any investments that are made on behalf of employees.
How can a Fulton, New York Pension and Benefits Attorney Help?
Lawyers in Fulton, New York can assist an employer in drafting a pension plan that is in compliance with the respective law. An attorney can also assist employees in negotiating unforeseen difficulties arising out of a benefits plan.