That form of vesting under which rights to vested benefits are acquired by a participant, commencing upon fulfillment of specified requirements; usually reaching a certain age or number of years of service or membership. See also Vesting.
This entry was posted in . Bookmark the permalink.
Damages awarded by a Court, in an action for liability, to set an example; rather in the form of a punishment against the defendant than to make good a loss suffered by the plaintiff.