Elapsed Time Vesting

[MBCarey]

Can you someone help me clarify the vesting for one of our participants. Plan uses "elapsed time" for eligibility and vesting. One year service requirement from Anniversary Date, entry dates on 4/1 amd 10/1

Date of Hire - 9/6/2008

Date of term - 5/16/12

I would think he has 3 years of service? But I am not sure.

Only 2 of the years he worked did he have over 1,000 but hours have nothing to do with his vesting. Correct?

[Tom Poje]

that would be my understanding

though check wording in document which might use 'rounded years' in which case he would have 4 years.

you also have the possibility of excluding certain years (e.g. before ee turned age..., before plan began, etc

see also 1.410(a)(7) which covers the elapsed time rules