Benefits and pension arrangements are part of both the hiring process as well the retirement or termination process. The state of New York has laws governing the way that employers are allowed to administer health benefits and pension plans. Recipients and beneficiaries of these packages can file their claims under the state laws.
Yonkers 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. The employer often pays for some of the benefit plans, but other plans require additional voluntary contributions from the employee. Additionally, employees are sometimes required to work for a minimum amount of time before becoming eligible for certain benefits.
What Employee Benefits are Protected by New York law?
New York laws require that employers providing medical plans for their workers perform specific 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. Additionally, 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 Yonkers 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. Second, 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 Yonkers, New York Pension and Benefits Attorney Help?
Lawyers in Yonkers, 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.