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Term Details - Vesting/Vested

A term that refers to the completion of a specific time period spent participating in an employer-sponsored retirement plan in order to be eligible for either a pension benefit or ownership of employer contributions at a defined point of time in the future; once an employee is vested, the accrued benefits are non-forfeitable and are not lost at termination of employment.

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Last Edited: December 3rd, 2010