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To lure the best and brightest executive employees and keep them producing at a high level, many companies offer deferred compensation plans. While these plans offer numerous benefits above and beyond the usual retirement fund or 401k, serious issues can arise when the time comes to claim them.
At Kantor & Kantor LLP, our California SERP and Executive Deferred Compensation attorneys understand the significant role this type of compensation plays in ensuring future financial security, both for you as well as for your loved ones. We provide the professional, highly effective legal representation needed to assist you in obtaining the benefits you worked hard for over the year and are legally entitled to receive.
Supplemental Executive Retirement Plans (SERP) and Executive Deferred Compensation programs offer benefits to high level employees, and well as their employers. Smart CEO states that these programs benefit companies by allowing them to target benefits specifically to top producing executives and managers, while providing tax benefits and a chance to recoup the monies paid by funding these accounts through life insurance policies. For employees, advantages of deferred compensation plans include:
These plans often sound good on their surface, but there are risks that employees should be aware of. A Bloomberg report states that lawsuits involving executive deferred compensation plans are on the rise, concerning benefits that have been denied for the following reasons:
If you are experienced problems with your SERP or Executive Deferred Compensation claim, contact Kantor & Kantor LLP today. Our California litigation attorneys have the legal knowledge and experience you need to defend your interests and can assist you in getting the benefits you are entitled to through your plan. Call or contact our office online today to schedule a case consultation.
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