The average employee is expected to change careers at least seven times in his or her working life. So chances are you won't take a job as the mailroom clerk and retire 30 years later as the company president. While this sounds simple, there are some things to consider, such as how long you've been with the company. You certainly get to keep what you contributed, along with its earnings. But just how much you get to keep of what the company contributed depends on how you're vested.
All companies have different vesting structures.
Increasingly, firms are allowing employees to keep all the matching funds after the first year of employment. In that case, you would be 100 percent, or fully vested, after one year. Others use a gradual percentage increase over a period of years, normally five to seven as defined by law. If you've been with the firm for three or four years and are 50 percent vested, then you're entitled to 50 percent of the company's match. Obviously, the closer you are to being 100 percent vested, the more incentive there is to stay in the job and reap the full matching amount.