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Vestment | Print |

When does my account vest?

You are always 100% vested in all of your Employee and Rollover Contributions.
 
The Employer Matching Contributions, Employer Basic Contributions and any Transfer amount (and earnings thereon) allocated to your account will vest according to the following schedule, which is based on your total number of
County Years of Vesting         Percentage ofContributions to
Service Completed                 Which You Are Entitled
 
Less than 1 year                                            0%
1 year, but less than 2 years                         20%
2 years, but less than 3 years                        40%
3 years, but less than 4 years                        60%
4 years, but less than 5 years                        80%
5 years or more                                          100%

Regardless of the above schedule, you will automatically become 100% vested in the Transfer amounts, Employer Matching and Employer Basic Contribution portion of your account when you reach Normal Retirement Age, or be let go in a Reduction in Force, or become disabled or die while still an employee. Normal Retirement Age is 65.
A Year of Service is a twelve consecutive month period during which you complete at least one hour of service with the County during each month. If you are gone from employment, you receive credit for any period of severance of less than 12 consecutive months. A period of severance generally means the continuous period of time you are not employed by the County beginning on the date you retire, quit, or are discharged. However, the nonvested portion of your account will be restored (unadjusted for gains or losses) if you are rehired before you have been gone for five
consecutive years and you decide to make a Restoration Contribution.

 
 

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