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Vesting

• The right of an employee, earned over a specific period of time, to receive some retirement benefit, whether or not he or she remains with the employer.

 
 Embedded terms in definition
 Right
Time
 
 Referenced Terms
 Forfeiture: The non-vested part of a participant s account balance in a defined contribution plan which he or she loses upon termination of employment before attaining full Vesting. Under IRS rules, some defined contribution plans credit forfeitures to the accounts of all other participants.

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