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2. Imagine your employer asks you to assist in determining whether their DC plan meets several of the criteria to be considered a qualified plan.
2. Imagine your employer asks you to assist in determining whether their DC plan meets several of the criteria to be considered a qualified plan. For each of the following plan features, please indicate whether or not the plan meets the requirements. If so, explain why. If not, please explain how the plan can be changed to ensure that the plan complies. (Do not worry about plan qualification requirements that are not listed.) a. The plan requires individuals to wait 6 months before becoming eligible to participate. of the highly compensated employees are covered by the plan. 145 of the non-highly compensated employees are also covered by plan. C. Employer contributions vest according to the following schedule: After this many years of Employee is vested in this % of employer service contributions 1 15 30 45 60 80 100
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