What is being vested? If you participate in your employer's 401(k) plan, and your employer has a match program, you should inquire on the vesting schedule. Being vested means you own the rights to the particular item. For example, if your employer contributes 3% of your salary to your 401(k), but states you are not fully vested for 5 years, you only own a portion of that 401(k) up until the 5
. years are up (usually 20% per year). At that time, you own the entire amount contributed to your plan by your employer. More information can be obtained at http://www.fairmark.com/execcomp/vested.htm.
