Understanding ERISA New York Retirement Issues
If you are planning to retire or are currently in the process of claiming retirement benefits, there are a few common retirement issues that you should understand. The Employment Retirement Income Security Act (ERISA) was passed in 1974 to secure certain rights to retiring workers of private companies, but employers sometimes make it difficult to understand retirement plans. It must be noted, however, that retirement plans provided by the government or religious institutions don’t fall under the protections of ERISA, which only applies to private, for-profit companies. If your company offers a retirement plan, then they are legally obligated to provide their workers with clear information and resources about how to access and claim benefits. If your company is impeding your retirement by not providing clear instructions on how to navigate their retirement plan, they are violating ERISA. An attorney can help you fight your employer and earn the benefits that you are entitle...