Advocate Health Care
Benefits

 


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401(k) Plan - Vesting

The following information does not apply to Advocate Dreyer associates.

You are always vested in the value of your own contributions to the plan. You earn vesting credit in the value of Advocate’s matching contribution based on Years of Service. A Year of Service means any calendar year in which you complete 1,000 or more hours of service with Advocate.

When you start earning vesting credit – and when you become fully vested – is based on your hire date. If your hire date is:

  • On or after January 1, 2013 – you become vested in Advocate’s matching contributions at a rate of 20% for each Year of Service starting with your second Year of Service and become 100% vested in the value of Advocate’s matching contributions once you complete six Years of Service.
Years of Service Vested Percentage
Less than 2 years 0%
2 years but less than 3 years 20%
3 years but less than 4 years 40%
4 years but less than 5 years 60%
5 years but less than 6 years 80%
6 or more years 100%
  • Before January 1, 2013 – you become vested in Advocate’s matching contributions at a rate of 20% for each Year of Service starting with your first Year of Service and become 100% vested in the value of Advocate’s matching contributions once you complete five Years of Service.
Years of Service Vested Percentage
Less than 1 year 0%
1 year but less than 2 years 20%
2 years but less than 3 years 40%
3 years but less than 4 years 60%
4 years but less than 5 years 80%
5 or more years 100%

You will also become fully vested in your entire account – regardless of Years of Service – when you reach age 55 or if you become disabled (and qualify for long-term disability benefits) or die while employed.