Charters and Public School Academies
Governmental Accounting Standards Board (GASB)
Charters and Public School Academies
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Vesting means ownership. This means that employees will vest, or own, a certain percentage of the employer contributions based on their years of service. Employer contributions are vested according to?their years of service. The vesting schedule is as follows:
| Years of Service | Percent Vested |
| After 1 year | 0% |
| After 2 years | 50% |
| After 3 years | 75% |
| After 4 years | 100% |
A year of service is defined as 1,020 hours in a school fiscal year.?