Vested

 

Being “vested” gives you certain pension rights, including the guarantee of a pension benefit at age 65.  You cannot lose this right to a benefit.  Additionally, in the event of your preretirement death, the spouse of a vested participant would be entitled to a Preretirement Surviving Spouse Pension.

 

Under the NASI Pension Plan, for people who have worked in covered employment after 1995, you become vested once you have five years of vesting service.  You get one year of vesting service for any calendar year you work at least 950 hours in covered sprinkler employment.  If you have not worked after 1995, you would fall under one of the older vesting rules like needing ten years of vesting service.  You can refer to Section 7.10 of the NASI Pension Plan for more detailed information on vesting.

 

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