06 28th, 2012 |
If your employer offers you a qualified pension plan, you should definitely participate. Often you have no choice. If you are vested in a plan, when you leave a company you are allowed to take not only the money you contributed (which you may take in any case), but also the money that your employer contributed to the pension., including whatever income those contributions have earned.
Whereas many employers previously had to provide vesting only to employees with 10 years of service, as of 1989 they must provide either 100 percent of vested benefits after 5 years., or else...