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What does being a vest means?

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Anonymous

13y ago
Updated: 3/25/2023

Being a vested employee means that your rights to pension benefits are paid up and therefore not contingent on the employee's continuing in the service of the employer. Erisa (Employee Retirement Income Security Act) stipulates that employees be at least 25% vested in benefits derived from employer contributions after 5 years. By the time the employee has worked for 15 years their vesting must have risen to 100%.

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Paxton Brown

Lvl 10
2y ago

What else can I help you with?