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Vesting rule needed in accrual plan every five years

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Summary:

Vesting rule needed in accrual plan every five years

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Hi!!

The customer has the below requirement.

The accrual plan is incremental. Accrual will start from the enrolment date, but employee should not be able to use the balance until completion of 10 years with the employer. On completion of 10 years, the balance should be available. Then again, accrual should continue but it should be locked for use for next 5 years. At the end of 5 years, the balance should be available for use to the employee.

So vesting has to happen initially for 10 years and then for every 5 years until employee attains a length of service = 50

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