Jump to content

Vesting on non-ERISA 403(b) plan

Recommended Posts

Just want to see if I'm nuts here. Suppose you have a public school, hence non-ERISA. Their 403(b) plan has a matching contribution piece.

For vesting purposes, the document, as I suspect most do, defines a "year of service" for vesting as 1,000 hours.

They would like a "last day" requirement - in other words, to receive a year of service for vesting, you must also be employed on the last day.

Is there any reason this can't be done?

Personally, I suspect that this won't be allowed under IRS prototypes when they are finally available, but then again, maybe it will.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Create New...