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That depends on the rules of
your particular plan. Plan sponsors have some flexibility in deciding vesting schedules
when the plan is set up. In some plans, participants are 100% vested as soon as they join
the plan, while in others, participants have to complete a number of years of service
before they're fully vested.
By law, all participants must be fully vested after seven years of service with the
company. Additionally, there are a few guidelines that typically apply to most plans. For
instance, in most plans, a participant automatically becomes fully vested when he or she
turns 65, becomes disabled, or dies, or if the plan is terminated.
You should check with your company's human resources or benefits representative regarding
the rules of your specific plan. |
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