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My employer gives a incentive bonus quarterly.Half in check to me and the other half put in 401k.Am I 100% vested?

Feb 06, 2015 by Ron in  |  Flag
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Ron,

While I agree with Robert and David above to check with your HR department or administrator, as a point of information you are usually 100% vested on any contributions that you make directly from your compensation. Also, dependent on your time with your employer, after a certain amount of time you are 100% vested on employer contributions as well. Hope this helps.

Comment   |  Flag   |  Feb 09, 2015 from Hollywood, FL

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David Warshaw Level 10

Yes I agree with Robert. You should speak with your employer and plan provider. The plan provider is normally the custodian of the assets or the third party administrator (TPA)

Comment   |  Flag   |  Feb 09, 2015

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Depends on your plan. Consult your plan provider or hr dept for further clarification about vesting requirements.

Comment   |  Flag   |  Feb 06, 2015

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Ron, You may not need to consult with HR for an answer to your vesting question. When you enrolled in your 401(k), you should have been given a Summary Plan Description or SPD. That document contains all the facts you need to know about your plan and your rights under the plan. Review the SPD first. HR will appreciate that you took the time to seek an answer prior to contacting them. Should you not find your SPD or your answer, now you have two reasons to contact HR with one call or email, saving them time, which they also will appreciate and getting a solution to both problems.

Comment   |  Flag   |  Feb 09, 2015

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Ron,

If your incentive bonus is considered "earned" "eligible" compensation for the purposes of your 401(k) Plan, then you should be 100% vested in those funds. It is advisable to check the Plan Document to verify that there is not a vesting schedule attached to that contribution type. You should be able to get a copy of the Plan Document or the Summary Plan Description (SPD) from your HR department or the Plan's service provider.

Regards, Mark

Comment   |  Flag   |  Feb 11, 2015 from Vienna, VA

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