nonforfeitable

(nɒnˈfɔːfɪtəbəl)

adj

(of a benefit) not able to be forfeited

Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

References in periodicals archive ?

Section 72(p)(2)(A) stipulates that the amount of the loan plus all other loans from the same employer generally cannot exceed the lesser of 50,000ドル or half of the present value of the employee's nonforfeitable accrued benefit under his or her retirement plans.

Withdraw without penalty: do your clients rate an exemption from the penalty for early withdrawal of retirement funds?

First, they alleged that Hughes had violated ERISA'S prohibition against using employees' vested, nonforfeitable benefits to meet its obligations by depleting the surplus to fund the new noncontributory pension plan.

The law at Work

Specifically, economic benefit occurs when an employee receives a nonforfeitable right equivalent to cash.

Nonqualified deferred compensation

This is the so-called "velvet handcuff" mechanism for retaining key employees, and usually incorporates within the arrangement an SROF requiring a number of years of service before benefits become nonforfeitable.

Closely held employers and Sec. 409A

Pension plan participants usually gain nonforfeitable and nonrevocable (vested) rights to benefits after meeting specific requirements.

Employee participation in savings and thrift plans, 1993

Accordingly, the regulations specify that designated Roth contributions are immediately nonforfeitable and subject to the Sec.

Current developments (Part II): this two-part article provides an overview of current developments in employee benefits, including executive compensation, welfare benefits and retirement plan requirements. Part II focuses on qualified retirement plans and welfare benefits