Thread: 401k Vesting
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Old 10-25-2017 | 04:14 PM
  #6  
lostplanetairman
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Joined: Sep 2005
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From: A 320 CA, retired
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HR Diva here:

First, the plan is administered by Schwab.
The plan sponsor doesn't have to remove their unvested match from your account until you decide to move your account. You are always 100% vested in your own contributions.
They will remove it at some point. Sometimes it just happens when they get around to it. Sometimes it is when they change administrators (ie: Fidelity to T Rowe Price to Schwab). Sometimes they wait till you want to transfer it out. It doesn't matter. It's not your money and they know it.
Spirit doesn't get it back; it goes into a forfeiture account. They can use it for plan expenses, but it never goes back to Spirit as general assets.

I hope this answers your question and stops the wild speculation!

Kind regards,

HR Diva
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