Estate Planning

Estate Planning Services

The skilled pension lawyers of the Glover Russell, P.A. law firm have the experience you need to navigate legal issues that arise with your pension benefits. Pension laws are complex and require detailed legal knowledge.

A pension plan is a regular payment made to you based on past services rendered and compensation paid, often after retirement or disability, when you are no longer earning a regular income from employment. Pension plan is now often used to refer to a retirement plan or retirement benefit. Pension or retirement benefits are paid out on a deferred basis, which can provide tax advantages to both employers and retirees. Pension or retirement plans may also pay benefits to your survivors.

Different forms of retirement plans

Retirement plans can take several forms, including:

• Defined benefit, a traditional pension plan in which the amount of the retirement benefit follows a defined formula, instead of being based on investment returns
• Defined contribution, a plan in which employers and employees may make regular contributions to a retirement account, where the funds are invested in stocks and other securities. The income tax on these accounts is deferred until they are withdrawn at retirement. Examples of defined contribution plans are:
  • 401(k), provided by employers and corporations to their employees in which employees make deferrals
  • 403(b), available to employees of non-profits, public education, and hospital organizations
• Profit sharing, an incentive plan in which a share of a company’s profits are typically accumulated in a tax-deferred account until an employee retires or leaves the company
• ESOP (employee stock ownership plan), in which employees are allocated shares of company securities
• PERS (public employee retirement system), a plan provided to Mississippi employees of state or local government
• FERS (federal employee retirement system), a plan provided to federal employees

Contact us for skilled legal guidance

The retirement benefit attorneys of Glover Russell, P.A. provide advice and counsel for retirement benefits in Jackson and throughout the state of Mississippi. Retirement or benefit claims require attorneys who are knowledgeable in all aspects of pension law. We can assist you with legal options under ERISA if your pension or retirement benefit has been cut or discontinued entirely.

When you need a law firm skilled in pension & employee benefits, including business, tax, ERISA, and estate matters, please call our office at 888-457-4379 or contact us online so we may assist you.