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Cliff Vesting |
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Cliff Vesting A type of vesting that occurs entirely at a specified time rather than gradually. Notes: Until the specified time there is no vesting, at which point the benefit becomes fully vested. For example if an employee contributes to an employer-matched pension plan, the employer's contributions become property of the employee all at once rather than gradually. |
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| All the options are expected to vest under one-year cliff vesting. Companies will need to determine the most appropriate combination of vesting schedule (cliff versus graded vesting) and attribution method (straight line for cliff vesting, or for instruments subject to graded vesting, the choice of either straight line or the FIN 28 "tranche-by-tranche" method). Current law requires that employer matching contributions under a qualified plan vest at least as rapidly as under one of two alternative minimum vesting schedules: (1) five-year cliff vesting which requires 100-percent vesting after five years of service or (2) seven-year graded vesting, which requires 20-percent vesting after three years of service, with an additional 20-percent vesting each year until 100 percent is fully vested after seven years of service. |
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Cliff Vesting