Vesting

The term “Vesting” refers to the nonforfeitable right which you acquire to an accrued

benefit, and which cannot be divested for any reason.  If you terminate service in the Diocese, either voluntarily or by discharge, and are not eligible at date of termination for any other benefits, your entitlement to vested benefits shall be determined as follows:

Vesting Schedule

Your accrued benefit at date of termination shall be determined in the same manner as that for Normal Retirement except that Credited Service shall be determined as of the date of termination.  When you reach normal retirement age while still in active ministry you become fully vested in your benefits.

Payment of Vested Benefits

Payment of vested benefits shall commence at your Normal Retirement Date, unless another payment date or method is approved by the Board of Trustees.  In the event of your death after your assignment is terminated and prior to the commencement of vested benefit payments, no death benefits shall be payable.

Vested Interests Non-Assignable

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