Becoming vested in your LAPP pension is an important milestone. It means you qualify for a secure, reliable monthly pension at retirement, paid for as long as you live.
You are vested in the Plan after being a contributing member for two years. Typically, you are vested after your first two calendar years in LAPP. It is also possible to be vested before that if you are able to transfer eligible service from another plan or buy back eligible service that you worked prior to contributing to LAPP.
If you are contributing to the Plan on or after your 65th birthday, you are automatically vested even without two years qualifying service.
You must be vested to receive a pension when you retire. If you are not vested and you take your funds out of LAPP, you will receive only your contributions with interest.