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, Works at Life Insurance Corporation of India. Vested Bonus is the bonus which is already accumulated in you policy at the end of particular financial year. Every year LIC declares bonus in its Participating/with profit policies according to valuation of actuarial department of LIC.
4. What does it mean to be vested? Vested is the status that members attain with a certain amount of New York State service credit, which makes them eligible for a retirement benefit at age 55. Tier 5 and 6 members vest with 10 years of state service credit. For all other tiers, five years of credit is necessary to vest. 5.