Ask Experts Questions for FREE Help !
Ask
    hrk58's Avatar
    hrk58 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 20, 2007, 08:27 AM
    401K Vesting when employed twice @ same company
    I was employeed with a company from 1993-2000 and again from 2000-2003. Both times I participated in the 401K program, and left my money in the program. I recently received a statement indicating that I was only 60% vested. Shouldn't I be 100% vested since I have over 5 yrs total work tenure with the company?
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #2

    Sep 20, 2007, 08:28 AM
    Depends on the company rules for a break in service. Most companies have rules that govern whether a break in service will restart the vesting clock or not. Check with your Benefits Admin on that issue.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #3

    Sep 20, 2007, 08:41 AM
    Scott is correct, when you left the first time, the money you had was not vested and most companies I have worked for require continuious service for vesting. But it will be up to the rules of the exact plan.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Employed 9yrs with same company now prior Felony an issue [ 6 Answers ]

Employed 9yrs with same company now prior Felony an issue At the age of 24 1996 I plead guilty to 1 offense and Alfred plead the remaining. I was sentenced in 1997 and as a result I spent 14 months in prison and served my time. In 1998 I had several jobs, but landed one with outsourcing firm...

401K Transfer to Different Company [ 2 Answers ]

My company division was bought out by another company. They automatically transferred my 401K. I was vested with the old company, but the new company does not show the money vested. IS THIS LEGAL?

Tax break for home office while employed by company? [ 4 Answers ]

I am a virtual worker, telecommuter, whatever you want to call it, for a large company that I do not own. Can I take a home-office deduction as if I were self-employed for the part of my apartment that I use exclusively for my office space?

Moving 401k funds to rollover IRA while still employed at the same company [ 2 Answers ]

Hi, I was told that you can withdraw your retirement funds and then get them back in within 60 days and not have to pay any penalties. If this is correct, does this mean that I can withdraw my 401k funds and move them into a rollover IRA within 60 days without any penalties? Thanks in advance...

401k Vesting [ 3 Answers ]

Been with employer 12 years but employer changes 401k plans every 5 or 6 years and sets vesting schedule at 10 years. At the start of each new plan all employees are set at 0% invested, therefore no one has ever been vested. We got a new plan again last year so I'm not vested at all, again. Is...

View more questions Search