In the state of Massachusetts, employees can have access to what is called deferred compensation plans. With such plans, a portion of the individual’s income is paid out at a later date than when the income was earned. Types of deferred compensation can include retirement plans, employee stocks, and pensions. At Malonis Law Office, we focus our employment law knowledge on individuals who have been affected by deferred compensation issues. A deferred compensation lawsuit can occur for several reasons including the compensation not being paid out as stipulated in their plan.
When you or someone you love has been affected by deferred compensation issues, we can help. Our experienced employment law attorneys can provide you with insight into your case, helping you to receive just compensation that you were not paid by your employer.
With a deferred compensation lawsuit, various disputes can create the need to file a claim. Such disputes can include payments and benefits. Issues can arise due to a clerical error when filing paperwork, misunderstandings or actual legal violations.
Common Deferred Compensation Legal Problems
When dealing with deferred compensation plans, it is important to learn more about legal problems that can arise. There are issues that require legal action against your employer. Understanding your options helps you to better understand if you have the ability to file a claim. Common legal issues involving deferred compensation include:
- Withholding of payments or salary.
- Miscalculation of the amount of compensation.
- Transferring compensation or benefits to others, such as the spouse of the employee or family member.
- Discrimination regarding compensation pages; this can include providing less money or benefits to individuals based on race or gender.
- A wrongful termination that results in deferred compensation issues.
- Breach of contract.
Resolving Conflicts involving Deferred Compensation
In many cases, an issue with deferred compensation is not realized until the individual is no longer working with the company. The person may not notice an error or issue until they are retired or moved on to a new place of work. If an issue is found, the individual must consult with the employer to see if the issue can be resolved. If not, then an employment attorney will need to be consulted for advice.
With a deferred compensation lawsuit, filing needs to be completed as soon as possible. If an employee waits to file a claim, they may miss the deadline. Employees must pay attention to deferred payment plans so any issues can be realized sooner rather than later. That way, action can be taken to see the right payments made to the individual without risk of missing the deadline.
If you have an issue with your deferred compensation plans with your employer, Malonis Law Office can help. Our employment law attorneys are experienced in handling such issues and can easily review your case, coming up with a plan of action to see you receive just compensation. Give us a call today to schedule an appointment for a consultation. We look forward to discussing your individual case and helping you move forward with legal action if needed.