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vesting after termination


Guest Elizabeth Gaskins
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Guest Elizabeth Gaskins

i worked for company A full time from june 1933 to july 1997. i had a balance in the company pension plan which had a 5 year cliff vesting schedule. the company merged with company B on september 30, 1999 and provided for 100% vesting to any active participants in the plan at that time. does that include me even though i was terminated? am i still an active partcipant if i have a balance ?

i appreciate any feedback....

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Guest pineapple

Sorry Elizabeth, but the 100% vesting schedule would not apply to you. First, the 100% schedule only applies to active participants, which means participants who are still employed. Second, even if the 100% schedule applied to all participants (both active and terminated), it would still not apply to you since you are not a participant. Since you terminated and were 0% vested, you are no longer a participant since your entire balance should have been forfeited.

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Wait a minute. Did you really mean you worked for company A for 64 years? Perhaps that was 1993 to 1997?

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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