Wednesday, February 10, 2010

Vesting Schedule

I received my 2009 statements for my 401k and my profit sharing plan from work this week.

Unfortunately, my company match and my profit sharing investment has a long vesting schedule. In June, on my 2 year anniversary with my company, I will be 20% vested. Each year will add another 20% until, in 5 years, I'll be completely vested!

I definitely hope to stay with my company for that long. Besides, that'll be a nice chunk of change in my retirement accounts! As of 12/31/2009, my match was at $1,495.72 and my profit sharing was $9,998.40. :)

Does your company have a vesting schedule for your 401k match?


savings February 11, 2010 at 11:22 PM  

We have profit sharing, but our vesting schedule is the same… 100% after 5 years, and 20% after two years. I don't really want to stay at my job that long, but we'll see. It would be a shame to lose out on that money!

THE ZOO February 12, 2010 at 5:22 PM  

the company i used to work for had it so you were vested after 6 years. and of course i was laid off just before my 5th year so I lost all that money, (it was a very good sum) it went back to the company. makes me sick.

Anonymous February 12, 2010 at 7:26 PM  

I have a pension at my job. The pension has a vesting schedule where it takes 6 years to be 100% vested. I've been there over 4 years, so I am at 60% right now.

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