I just left my job and according to my statement I have a specific amount of money in my 401K which I would like to rollover. My past employer is saying that the amount that I have in my account is different(less) than what my account shows. This is because of the company vested schedule. . advise

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Fr_Chuck

yes, if in your account they did matching funds, for example where I used to work they would match up to 3 percent of my income. so if I put in 50 dollars, they put in 50 dollars in matching funds.

But thier 50 was not mine to take out, unless I worked there for a numer of years, for the first couple of years I would only get 25 percent of thier share, after 3 to 4 I got 50 percent and after 5 years I would get it all.

So I was not "vested" till 5 years.

Now I only used my years for example each plan can have its own years.
So all the money and interest you put in, would be yours but not all of the money they put in as matching will be yours till it is vested.

ScottGem

vesting means that you aren't fully entitled to the company match until you have been with the company for a specified length of time. That time may vary from plan to plan. Lookat your last statement it should indicate your vested balance.