The point at which you earn the right to keep an employer's contribution made to a company pension plan on your behalf Top of Page
Also called three pieces Suit with an additional, sleeveless garment fitting underneath the suit coat and buttoning up the torso In well-made suits, the front of the vest is composed of the same fabric as the suit, and the back is made of the same material as the suit's lining and has an adjustable band to adjust the fit of the vest around the torso
You are vested if you are entitled to receive benefits (normally a pension plan or a deferred profit sharing plan) from a current or former employer Some companies may grant full benefits, others gradually increase the benefits ("percentage of vesting") after you work for them a predefined number of years
Means that one has a right to use a portion of a fund, such as an individual's retirement fund
Before shares are "vested", it means that the company plans to give them to you, but you have not yet actually earned the right to own them For example, anything that is not "vested" is forfeit, or lost, if you leave the company prior to the vesting date Shares or stock options often are allocated up front, with a metered vesting schedule, meaning that they are vested (you own them) in various stages, over time
The status of a retirement plan participant who has met requirements giving her the right to receive partial or full retirement benefits even if she terminates employment prior to retirement
A legal term identifying a right of immediate or future enjoyment that cannot be altered without the consent of the party having the right However, such a right may be forfeited (See also: vested benefit )
Having the right to use a portion of a fund such as an individual retirement fund For example, individuals who are 100 percent vested can withdraw all of the funds that are set aside for them in a retirement fund However, taxes may be due on any funds that are actually withdrawn