| FAQ 182: Vesting--Vested amount on terminee with prior distribution does not equal ending balance x vesting percent |
The vesting percent is right, but the vested amount is wrong.
Ending Balance 538.04, 80% vested, Vested Amount 275.72, no earnings allocated
Prior distribution was 773.55
Explained the calculation of the current vested amount taking into account that the participant had a prior distribution:
Ending Balance 538.04
Plus Prior Distribution 773.55
Total Account: 1311.59
multiply by Vest % * 80%
Vested Amt Total 1049.27
Prior Distribution -773.55
Vested Amt still due 275.72
Depending on the coding in the Plan Specs, the vested amount still due could also have earnings added on to the total.