§ 6-6-202. Vesting.

   (a)   Employee contributions. A participant shall be 100% vested in the participant's employee contributions at all times.

   (b)   Employer contribution. Except as provided in § 6-6-302 and § 6-6-303, a participant vests in the participant's employer contribution in accordance with the following schedule:

 

Years of credited plan service	Vested percentage
Less than 1	0%
1	20%
2	40%
3	60%
4	80%
5 or more	100%

 

   (c)   Vested and unvested funds.

      (1)   The vested portion of a terminated participant's plan account shall be payable as provided in this title.

      (2)   The unvested portion of the terminated participant's plan account shall be forfeited on the earlier of:

         (i)   the date of a complete distribution of the participant's plan account; or

         (ii)   the last day of the plan year in which the participant's employment with the employer is terminated. Forfeitures of employer contributions shall be transferred to a plan forfeiture account and may be used to pay any expenses payable by the trust or may be reallocated as the employer contribution to other plan accounts.

   (d)   County's rights to amend or terminate plan. The rights in which a participant vests under the plan are subject to the County's rights to amend or terminate the plan in accordance with § 5-1-103 of this Code.

(Bill No. 95-17)