Unconditional Vesting

Unconditional Vesting

The process by which an employee with a qualified retirement plan and/or stock option becomes entitled to the benefits of ownership, even if he/she no longer works at the company providing the retirement plan or stock option. Once unconditional vesting occurs, the plan or option belongs to the employee even if the employer no longer makes contributions. As with all vesting, the benefits of the plan or stock option cannot be revoked.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved