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vesting
(redirected from Pension Plan Vesting)

   Also found in: Financial, Wikipedia 0.01 sec.
vest·ing  (vstng)
n.
The granting to an employee of credits toward a pension even if separated from the job before retirement.


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Progress Energy employees generally vest in their retirement benefit after five years; however, bargaining and nonbargaining pension plan vesting rules vary and eligibility will be based on the respective governing plan documents.
In order to take advantage of the opportunity to transfer excess pension assets, the employer needs to meet certain requirements with respect to pension plan vesting, notification, and medical benefit cost maintenance.
 
 
 
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