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I don’t understand the vesting period. If you work 4 years, is everything contributed by KPMG automatically vested, or only the amount contributed 3+ years ago?
Everything
Is the vesting graded or will none of it best until you’ve been there 3 years?
So you vest 100% if you stay for 3 years after that your vest for each additional year as long as you stay until last day of the given year. So let’s say if your leave August of 4th year, you have vested in the first 3 years but let’s say you leave on Jan 2 or 5th years, you have vested in 4 years of 401K contributions. So technically, after three years all you have to do is stay until end of that year to get that years contribution. Once you get it you are vested so no more waiting for vesting past the first three year mark.
But say you stay for 2 years- has any portion vested at that point? I know the current 5 year plan is on a graded vesting schedule, just wondering if this will be as well (I’m a new employee, that’s why I’m asking)
K3, I don’t think there will be a gradual vesting since the time to vest 100% is 3 years. It’s kind of trap to keep people little longer. I did not saw anything in FAQ but would recommend checking those out if you are curious:
What did they do with the pension balances? Moved to 401k?