Vesting
Vesting is the process by which an employee accrues nonforfeitable rights over employer contributions that are made to the employee's qualified retirement plan account. Generally, nonforfeitable rights accrue based on the number of years of service performed by the employee.
Definitions
According to Labor Relations and Collective Bargaining by Michael R. Carrell and Christina Heavrin (10th edition),
- Vesting. The process by which an employee accrues nonforfeitable rights over employer contributions that are made to the employee's qualified retirement plan account. Generally, nonforfeitable rights accrue based on the number of years of service performed by the employee.
Related concepts
- Labor relations. The systematic study of attitudes, motivations, and behaviors which two or more job-market actors assume toward each another.
