About Vesting
The Plan’s vesting schedule dictates your ownership rights of the City’s contributions to your personal account. Although the City contributes money to your account, you are not entitled to these funds until certain service requirements are met. A Plan participant becomes “vested” once such service requirements are met, at which time he or she is entitled to 100% of all past and future employer contributions upon separation of service. Please note that the participant is always 100% vested in all employee contributions made to the Plan.For the purposes of the vesting schedule provided below, a participant is credited with one year of service for every calendar year in which they work at least 1,000 hours for APD. Participants reach 100% vesting only after their 5 year anniversary.
Years of Service & Vested Amount
Less than 5 years: 0%
Five years or more: 100%
Survivor Benefits
In the event of your death while employed by APD, your account becomes 100% vested regardless of your years of service. If you die before you begin distributing your account, a spousal beneficiary is eligible for all of the same options that would be available to you as a Plan participant. Please make sure you have an up-to-date beneficiary designation on file with the AP-MPPP offices.