Conditional vesting

{
  "id": "MLC-T-INS-000894",
  "term": "Conditional vesting",
  "field": "Insurance and risk management",
  "definition": "A provision in a retirement or pension plan that grants an employee ownership of employer contributions only after fulfilling specific criteria, such as a certain number of years of service. If the employee leaves before meeting these conditions, they forfeit the non-vested portion of the employer's contributions. Vesting schedules can be cliff vesting, where full ownership occurs at once, or graded vesting, where ownership increases incrementally over time.",
  "url": "https://mlchart.com/terminology/insurance/conditional-vesting/"
}