What does vesting mean?

Terminology

“Vested” means that you are entitled to receive both the employer and employee pension contributions allocated to your account.

If your Plan membership ends, your total pension account balance is vested immediately, regardless of how long you have been a member of the Plan.

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Locked-In

Terminology

If your Account Value (Employer Account and Member Account) is greater than 20% of the Year’s Maximum Pensionable Earnings (YMPE)...

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