russ[at]russ.net wrote:
- quote -

They can change the vesting schedule, but they can't take away what
is already vested and accrued. So, if you had 3 years of service and
were 33% vested in your accrued benefit, they can't take that away.

I would think many companies would grandfather the schedule for
those who were already employed before the new schedule becomes
effective. But somehow I doubt that they have to do this.

They are required to tell you what the vesting schedule is that
applies to you. Check out the Department of Labor web site for
info on pension rights.

http://www.dol.gov/ebsa/publications....html#section3

Here is a quote from this web site that may provide some insight
on change of vesting schedule:

"If the plan’s vesting schedule is changed after you have completed
at least 3 years of service, you have the right to select the vesting
schedule that existed prior to the change for the entire length of
your service, rather than the new schedule."

Frank

My company has a pension plan that when I was hired vested 33% at 3
years, 66% at 4 years, and 100% at 5 years. A year after I was hired,
they changed it so it just vests 100% at 5 years and nothing any
sooner.

Can they change this legally? Or is there a law that says they have to
grandfather employees hired before the date they changed it into the
old vesting schedule?

Thanks