vesting

vesting
n.
An employee’s acquisition of an unconditional right to receive retirement benefits after working for an employer for the required period.

The Essential Law Dictionary. — Sphinx Publishing, An imprint of Sourcebooks, Inc. . 2008.


vesting
the process whereby a right to or interest in property becomes the subject of entitlement by someone. If an interest vests in possession, the holder will become entitled to the immediate possession thereof; if it vests in interest, this signifies the existence of a prior interest that requires to be satisfied before possession can be assumed.
In Scotland, vesting subject to defeasance refers to conditional bequests where the condition is resolutive and not suspensive: see generally Taylor v. Gilbert's Trs (1878) 5 R (HL) 217. It is most commonly encountered where a testator makes a bequest that is conditional only upon the possible birth of a child, in which case, if the doctrine applies, the condition is ignored but may later be defeated by the happening of the event.

Collins dictionary of law. . 2001.

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Look at other dictionaries:

  • Vesting — Vest ing, n. Cloth for vests; a vest pattern. [1913 Webster] …   The Collaborative International Dictionary of English

  • vesting — [ves′tiŋ] n. the retention by an employee of all or part of pension rights regardless of change of employers, early retirement, etc …   English World dictionary

  • Vesting — In law, vesting is to give an immediately secured right of present or future enjoyment. One has a vested right to an asset that cannot be taken away by any third party, even though one may not yet possess the asset. When the right, interest or… …   Wikipedia

  • Vesting — Thomas Vesting (* 1958 in Detmold) ist ein deutscher Rechtswissenschaftler. Vesting studierte von 1979 bis 1983 Rechts und Politikwissenschaften an der Universität Tübingen; 1983 legte er dort auch seine Erste juristische Staatsprüfung ab. Bei… …   Deutsch Wikipedia

  • vesting — Nonforfeitable ownership (or partial ownership) by an employee of the retirement account balances or benefits contributed on the employees behalf by an employer. The Tax Reform Act of 1986 established minimum vesting rights for employees based on …   Financial and business terms

  • vesting — I. /ˈvɛstɪŋ/ (say vesting) noun Chiefly US any of various medium or heavy cloths used for making waistcoats, etc. {vest (def. 2) + ing1} II. /ˈvɛstɪŋ/ (say vesting) noun a provision within an employer sponsored superannuation fund which entitles… …  

  • Vesting — Vest Vest, v. t. [imp. & p. p. {Vested}; p. pr. & vb. n. {Vesting}.] [Cf. L. vestire, vestitum, OF. vestir, F. v[^e]tir. See {Vest}, n.] 1. To clothe with, or as with, a vestment, or garment; to dress; to robe; to cover, surround, or encompass… …   The Collaborative International Dictionary of English

  • vesting — Right that employee acquires to various employer contributed benefits (e.g., pension) after having been employed for requisite number of years. Federal laws (e.g., ERISA) govern vesting rights. See also vested pension …   Black's law dictionary

  • vesting — noun ( s) Etymology: from gerund of vest (I) 1. : the conveying to an employee of inalienable rights to share in a pension fund and especially to recover his own and his employer s contribution on his behalf in the event of termination of… …   Useful english dictionary

  • Vesting Prayers — are prayers which are said while a cleric puts on vestments as part of a liturgy of the Catholic (Universal) Church, whether Eastern or Western. They feature as part of the liturgy in question itself, and take place either before or after a… …   Wikipedia

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