A few months to my fourth year anniversary and thinking of leaving. Is the 0%, 20%, 40%, 60%, 100% vesting schedule rolling or not? Say if I wait after 5th year of service do I get all or just one year's profit sharing vested 100%? Thanks.
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As someone that took the VBO last time, decades of experience, you won’t find another financial firm that has as many opportunities to move within the company. That is if you want to stay in finance. I moved around several times, while increasing my pay/bonuses each time. Each was a stepping stone to the next. Most roles will su-k the living life out of you if you let it. It was a great career because I established boundaries, and trusted no one in management. If you learn to play the game, you’ll do just fine. Again, if you want to stay in finance. Most other companies pull the same sh*t, just on a different scale.
Optimal time is as soon as you can lol
ChatGPT: The Employee Retirement Income Security Act (ERISA) 1,000-hour rule requires that part-time employees who work at least 1,000 hours in a 12-month period be eligible to participate in the same retirement plans as full-time employees
Once you get 1,000 hours of work in the year, you are 100% vested.
ERISA.
Look on net benefits to see what’s vested. At 4 years you’ll get the 60%, at 5 it’s all yours
I believe after five years service, you get 100% of company contributions for all five years.
Zero