Definition of "Partial vesting"

Iris S.  McKoy real estate agent
Iris S. McKoy, Real Estate Agent Tammie Harris Real Estate Firm

A procedure effective January 1, 1989, under the tax reform act of 1986. The entitlement of an employee to a specified portion of the pension benefits accrues in the following manner: vesting of 20% after the completion of three years of service with an employer, increasing by 20% for each year of service thereafter, until 100% vesting is achieved at the end of seven years of service.

 

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