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Retirement benefits are a key part of any employee’s overall compensation package. Of course, considering these benefits are particularly important for executives and other people in upper level management positions. Increasingly companies in San Jose and the surrounding communities are relying on deferred compensation packages to pay and retain their top talent. Unfortunately, as generous as deferred compensation benefits can be, it must also be noted that it can sometimes be challenging to recover these benefits. At Kantor & Kantor LLP, our San Jose executive deferred compensation lawyers provide aggressive legal representation to executives seeking to recover their full and fair benefits.
Many companies offer high performing employees deferred compensation because these plans can include benefits that go well above and beyond the standard retirement benefits. When used properly, these plans can provide tremendous value for both employers and employees. More specifically, some of the top advantages for employees include:
In addition to these benefits for executives, companies also get big benefits from using these plans as they can be a cost effective way to retain key talent. However, one of the reasons that these plans are so flexible is because they are exempt from most ERISA requirements. This exemption from ERISA does come with some downsides.
Executive deferred compensation plans are not subject to ERISA’s funding or fiduciary duty standards. In other words, an employer does not need to set aside assets in a trust to fund its executive deferred compensation commitments. This results in plan participants being especially vulnerable, particularly if their employer ends up in a financially distressed position. Indeed, companies often deny valid claims seeking to improve their own bottom line. Of course, just because your claim has been denied, does not mean that you can not recover. You need to fight for your benefits. Our San Jose Litigation attorneys handle a wide variety of claims. A list of some of the cases we have handle include the following types of claims:
Let the experienced executive deferred compensation claims attorneys at Kantor & Kantor LLP help you fight for your benefits. We have the skills and experience necessary to protect your legal rights and financial interests. If your claim has been denied in San Jose, please contact our office today to set up your free case evaluation.
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