SERP and Other Executive Deferred Compensation Claims
We represent executives who have been denied benefits under a supplemental executive retirement plan, excess benefit plan, or other type of deferred compensation or retirement plan for executives and management. Most forms of deferred compensation and retirement plans available only to executives or management lack the same protections as other retirement plans offered to all other employees. For instance, ERISA's fiduciary responsibilities, funding standards, participation standards, and vesting standards do not apply to these types of plans, making you as the participant much more vulnerable.
Most of these compensation plans also include numerous vague forfeiture provisions that, when coupled with the clause granting the employer discretion to determine eligibility for benefits, can essentially subject you to the whims of the employer if your relationship should ever sour. Because ERISA does not require your employer to fund these plans, or even set anything aside to pay, in lean economic times employers often reach to denying these benefits as the low hanging fruit. Do not allow yourself to be taken advantage of. Call us today.
Most of these compensation plans also include numerous vague forfeiture provisions that, when coupled with the clause granting the employer discretion to determine eligibility for benefits, can essentially subject you to the whims of the employer if your relationship should ever sour. Because ERISA does not require your employer to fund these plans, or even set anything aside to pay, in lean economic times employers often reach to denying these benefits as the low hanging fruit. Do not allow yourself to be taken advantage of. Call us today.