April 15, 2013
Your employer states you will be vested in your retirement account in 5 years. What does that mean?
Your employer states you will be vested in your retirement account in 5 years. What does that mean?
It means that after 5 years, you will have fulfilled the time it takes before the matching money they give you is YOURS.
Nice job, Katherine. Vesting has to do with money you may be owed as well as benefits. When you sign up to a new job it is imperative that you understand when you are fully vested in all of the benefits that job may provide including the matching money that is involved with your company retirement account.
Read the pamphlet carefully when your human resource manager provides it to you. DO NOT PUT IT IN SOME DRAWER IN YOUR HOME. There is a great deal of money at stake. YOUR money!