dmb Posted July 30, 2002 Posted July 30, 2002 An employer has changed vesting schedule from 5 year cliff to 3 year cliff effective 1/1/02. A participant terminated in July, 2002 with 4 years of vesting service. I just want to be sure that there is no way to keep this or any other participant on the original 5 year cliff sked or if there is way to keep old and new money on separate vesting skeds. Thanks.
david rigby Posted July 30, 2002 Posted July 30, 2002 Probably this EE is 100% vested. But, as always, it depends on what the amendment said. 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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