A form of vesting in a contributory pension plan under which entitlement to a vested benefit is conditional upon non-withdrawal of the participant’s contribution. See also Vesting.
This entry was posted in . Bookmark the permalink.
The second person named to receive benefits upon the death of an insured if the first-named beneficiary is not alive or does not collect all the benefits before his or her own death. See also Contingent Beneficiary.