Most 401(k) plans don’t pay a full company match immediately. In some cases, employees must work six years to get the money.
Companies use different timelines, or vesting schedules, to determine how long it takes for savers to fully own the employer contributions.
For example, a saver whose 401 uses a three-year cliff vesting owns the company match after three years of service; they get 0% before then. Vesting schedules tend to be a function of company culture and the philosophy of executives overseeing the retirement plan, Lander said.For one, determining a worker's length of service isn't as straightforward as it might seem.
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