Question

When Kimberly begins working for Pharmco Industries, the company tells her that at a future date, after so many years of employment with the company, she can receive retirement pay. Her rights on that date to receive pay upon retirement would be considered:a. vested.b. accrued.c. sheltered.d. inferred

Answer 1

Answer: Vested

Step-by-step explanation: In simple words, vested refers to the right of possessing an asset or such in future which is secured by law and no third party can take away that right without the permission of the vested party.

The asset vested belongs to some other party but remains secured in the possession of some other party for a specified period of time. In the given case, Kimberly has been informed that so many years she will get her retirement pay.

Hence we can conclude that her retirement pay is vested.