University of Illinois Extension

Pension plan protection

New employees

How do I know if I am vested?

How will I know if my pension will be worth anything?

401(k) plans

Leaving a job

Break-in service

Pension from husband's employment

What if my spouse dies before he can receive his pension?

What happens if I divorce my husband?

What happens to my benefits when I die?

Self-employment plans

How do I invest in a Keogh plan?

What is an SEP?

Annuities

Federal government pensions

For help with pension questions

For further reading/ References

 

 

Before the ERISA law was passed, workers who left the labor force lost credit for all vesting time credited for previous work. Today, you will have a break in service if you do not complete at least 501 hours of work with your employer in one year. If you are vested, even partially under a graduated vesting schedule and return to your job, you must be given credit for prior service, regardless of how long the break lasts. If you are un-vested (not vested) and stay away from a job for five consecutive years, you may lose all the years you have toward vesting under the plan, even if you return to the same employer. By law, your employer cannot consider a one-year maternity leave as a break in service.

 

 

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