401k Vesting Requirements

[daj24601]

I realize the issue about standing. I am just looking for information since I have no experience or exposure to employee benefit law. When I said "so I don't have to take action," I really meant I as in we since we would pay for the lawyer to represent her. But thanks for the heads up at any rate.

It looks like it is a step method for vesting. By my calculations, she was vested 20% in the employers contributions. Now I (we, or rather she) need to make sure we received the full 3% my wife contributed plus 20% of the employers contributions.

Thanks again for all your comments. Like I said, employee benefits is a foreign subject to me.

 

[chitown]

Fairly stringent rules and regs mandating employER, as fiduciary/trustee, compliance. If your wife's employEE account balance is less than 5-10K employer can simply cut her a check for 100% of her contributions. Make sure to open an IRA in Wife's name only and contribute this money within 60 days of the date the check was written to avoid 10% penalty and income tax on the amount. The employer sounds unsophisticated so I question how much $$ it contributed on your Wife's behalf. Check out the rollover provisions upon termination contained in the plan document. Most times they are written (purposely) so non attorneys can read and comprehend.