Quarterly report pursuant to Section 13 or 15(d)

EMPLOYEE BENEFIT 401(k) PLANS

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EMPLOYEE BENEFIT 401(k) PLANS
 9 Months Ended
Sep. 30, 2024
Retirement Benefits [Abstract]  
EMPLOYEE BENEFIT 401(k) PLANS EMPLOYEE BENEFIT 401(k) PLANS
Employees of the General Partner, who meet certain minimum age and service requirements, are eligible to participate in the Veris Residential, Inc. 401(k) Savings/Retirement Plan (the “401(k) Plan”). Eligible employees may elect to defer from one percent up to 60 percent of their annual compensation on a pre-tax basis to the 401(k) Plan, subject to certain limitations imposed by federal law. The Company may make discretionary matching or profit sharing contributions to the 401(k) Plan on behalf of eligible participants in any plan year. Participants are always 100 percent vested in their pre-tax and post-tax contributions, as well as any matching or profit sharing contributions made on their behalf by the Company. All contributions are allocated as a percentage of compensation of the eligible participants for the Plan year. The assets of the 401(k) Plan are held in trust and a separate account is established for each participant. Total expense recognized by the Company for the 401(k) Plan for the three months ended September 30, 2024 and 2023 was $84 thousand and $102 thousand, respectively and $374 thousand and $378 thousand for the nine months ended September 30, 2024 and 2023, respectively.