vested benefits

vested benefits definition - business

vested benefits

Pension benefits that belong to an employee independent of his or her future employment. An employee usually becomes vested after five years of employment with the same firm, although there are numerous exceptions requiring longer employment. Compare pension plan.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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