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When was the law of a 10 year vested company pension introduced?
Wiki User
∙ 14y ago
The law of a 10 year vested company pension or the Employee Retirement Income Security Act was introduced in 1974.
Wiki User
∙ 14y ago
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The Pension Benefit Guaranty Corporation, or PBGC is responsible for insuring your pension benefits. In most cases, your pension benefit would be insured up to certain limits. For 2009, a 65 year old has a maximum insured benefit of $54,000 annually. So, as long as your pension benefit is equal to, or less than this limit, you'd still have your full pension benefit even if your company goes under or the pension plan terminates.
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When was the Chevy Bowtie introduced?
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What year was the first ruff Ryder vested?
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Depending on which type of vesting is used for your pension, you may receive a portion or all of it if you retire early. If it is cliff invested, you will lose the entire pension if you leave your job in less than five years. If you retire after five years, you receive all of it. If it is graded vesting, you will receive 20 percent if you leave the job after three years. If you stay each year after adds on another 20 percent up to seven years. At that time you are eligible for the entire pension when you retire.
