The 'Lectric Law Library's Lexicon On
* Vest, Vested Right *

VEST - To give an immediate fixed right of present or future enjoyment; an estate is vested in possession when there exists a right of present enjoyment; and an estate is vested in interest, when there is a present fixed right of future, enjoyment.

VESTED RIGHT - An absolute right. When a retirement plan is fully vested, the employee has an absolute right to the entire amount of money in the account.
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