Babson Corporation is proposing the creation of a qualified profit-sharing plan for its employees. The proposed plan

Question:

Babson is proposing the creation of a qualified profit-sharing plan for its employees. The proposed plan provides for vesting of employer contributions after 20 years because the company wants to discourage employee turnover and does not feel that short-term employees should qualify for benefits. Will this plan qualify? Why or why not?
Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...