19 Del. Admin. Code § 2006-12.0 - Vesting. [Compliance with IRS Code Section 401(a)(7); IRS-approved Language]
12.1
Plan Terminations. In the event of a full or partial termination of, or a complete discontinuance of employer contributions to, the Delaware State Retirement Fund, all accrued benefits which have been vested according to the provisions of 11 Del.C. Ch. 88, shall be 100% vested and nonforfeitable to the extent funded and to the extent required by federal law.
12.2 A Plan participant shall be 100% vested in all Plan benefits upon attainment of the Plan's age and service requirements for the Plan's normal retirement benefit in 11 Del.C. Ch 88.
12.3 A Plan participant shall be 100% vested in the Plan participant's employee contributions.
Notes
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