401k Vesting

[keito]

What is the name of your state?
Mississippi
I am only 40% vested in my 401k plan and our company will be terminating us do to a forclosure on our facility, none of which is our fault. They will still be in business elsewhere. Can they keep the 60% they contributed to my 401K?

 

[cbg]

Anything that YOU put in is guaranteed yours. Anything THEY put in that's vested is guaranteed yours. But anything that they put in that is not vested, yes, they CAN withhold.

That doesn't mean they will; I've known several companies that would 100% vest whatever was in the 401k accounts when it came to a layoff situation that was not the employee's fault. They don't HAVE to, but many do.