I know this might be somewhat testing the bounds of what you all have knowledge of - but as many of us here are professionals I have to assume a least a few of you might have some input here :)
I worked as IT support at a non profit for 4 years and was given employer contributions via their profit sharing program into a 403b.
A bit over a year ago I resigned from that position as part of the process of moving to another state. Recently I decided to close the 403b out and take a check payout of the balance after taxes and fees associated. The overall value was *low enough* that the taxes and fees were acceptable in this instance in that the remaining balance was useful enough for the purpose at hand to justify them.
However, when I received the check it was less than expected, and when I asked why I was told I wasn't "fully vested"... but not informed of this during the lengthy paperwork process at any step.
What I would like to know is:
01) How are vesting terms determined?
02) Why wasn't the amount taken back taken back when I resigned?
03) Can an employer take back money years and years later if the previous employee is deemed not vested or is there is a twilight?
04) If only a portion of the balance of my 403b is mine - and I make considerable profit on my investments from that fund over 10, 20, 40+ years if I'd decided to not close the account out.... who gets the profits from my choice of investments over that time - them or me?
05) Is this normal - or is something odd afoot?