Retirement benefits are an important part of most employee compensation packages. To comprehend the value of the position being offered to you, it is imperative that you have a full understanding of the retirement benefits being provided, as well.
For executives and other high-level managers, this can be challenging. In the modern business world, retirement benefits are often structured in complex ways. Increasingly, companies are relying on deferred compensation packages to hire and retain top executives.
Unfortunately, when it comes time to make a claim for your deferred compensation, some employers are not always willing to pay up. At The Garner Firm, our Philadelphia SERP attorney Adam H. Garner can help. Mr. Garner provides skilled, aggressive legal representation to employees making SERP and other executive deferred compensation claims.
A supplemental executive retirement plan (SERP) is a type of nonqualified retirement plan that can be offered by companies to executive-level employees. This type of plan provides benefits beyond a standard defined benefit pension, IRA, or 401(k). For example, through SERP, executives might be offered:
Notably, however, these types of plans are exempt from many of the regulations included within the Employee Retirement Income Security Act (ERISA). This can sometimes lead to problems when it comes time to make a claim. Unlike other ERISA-regulated plans, the proceeds to pay out a SERP claim do not have to be kept in a trust. If a company becomes insolvent or is sold to another party before executive deferred compensation benefits are claimed, the company’s new operators may try to find an excuse not to pay the claim. In the unfortunate event that your SERP or other executive deferred compensation claim is denied, you have legal options available. You should contact a qualified attorney immediately who can review your case and take action to protect your rights.
At The Garner Firm, we handle SERP and other executive deferred compensation claims. If your claim was denied, for any reason, please do not hesitate to contact us today. Initial consultations are always confidential and free of charge. From our office in the heart of Philadelphia, we represent clients throughout Pennsylvania, New Jersey, and Maryland.
The Garner Firm provides quality advice and guidance for clients with employment matters. I highly recommend the Garner Firm.
Adam did an exceptional job in helping me both understand my situation and fight for my benefits/disability claim. He is extremely knowledgeable about the law and how it will effect your case. He was up front with us on how difficult our case may be and was always available to discuss our situation/answer questions. Adam also cares about you and takes an interest. He did an outstanding job to help me win my case against strong odds and was a blessing to have him as my lawyer. Thank you Adam for all you have done and continue doing on my behalf.
I would highly recommend Adam. He was courteous, professional, and very knowledgeable. He was attentive to my concerns and always responsive in a timely fashion.
I highly recommend him! He worked so hard and fought for what he thought I deserved. He is honest and will not lie to you, someone you can trust.
Adam has provided excellent service regarding my disability insurance claim. He is dedicated, knowledgeable, and compassionate. Adam keeps on top of the situation and responds immediately to any issues. He is always accessible. I would highly recommend him.
Adam is very knowledgeable about the process of seeking disability from the insurance company. After the insurer stopped paying my claim, I knew I needed to talk to somebody experienced in these types of cases. He was so detail-oriented, and I was so impressed with how he presented my case. I don’t know what I would have done without his help!
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