Nonforfeitable Benefit Law and Legal Definition
According to 29 USCS § 1301 [Title 29. Labor; Chapter 18. Employee Retirement Income Security Program; Plan Termination Insurance; Pension Benefit Guaranty Corporation], "nonforfeitable benefit" means, "with respect to a plan, a benefit for which a participant has satisfied the conditions for entitlement under the plan or the requirements of this Act (other than submission of a formal application, retirement, completion of a required waiting period, or death in the case of a benefit which returns all or a portion of a participant's accumulated mandatory employee contributions upon the participant's death), whether or not the benefit may subsequently be reduced or suspended by a plan amendment, an occurrence of any condition, or operation of this Act or the Internal Revenue Code of 1986 [26 USCS §§ 1 et seq.]"
