2&3

In 2023, Maggy ( 34 years old) is an employee of YBU Corporation. YBU provides a 401(k) plan for all its employees. According to the terms of the plan, YBU contributes 50 cents for every dollar the employee contributes. The maximum employer contribution under the plan is 15 percent of the employee's salary (if allowed, YBU contributes untli the employee has contributed 30 percent of her salary). (Use Exhibit 13-2) Problem 13.59 Part a (Static) a. Maggy worked for YBU Corporation for 31/2 years before deciding to leave effective July 1,2023. Maggy's annual salary during this time was $45,000,$52,000,$55,000, and $60,000 (she only recelved half of her $60,0002023 salary). Assuming Maggy contributed 8 percent of her salary (including her 2023 salary) to her 401(k) account, what is. Maggy's vested account balance when she leaves YBU (exclusive of account earnings)? Assume YBU uses three-year cliff vesting. In 2023, Maggy (34 years old) is an employee of YBU Corporation. YBU provides a 401( k ) plan for all its employees. According to the terms of the plan, YBU contributes 50 cents for every dollar the employee contributes. The maximum employer contribution under the plan is 15 percent of the employee's salary (if allowed, YBU contributes until the employee has contributed 30 percent of her salary). (Use Exhibit 13-2) Problem 13-59 Part b (Static) b. Maggy worked for YBU Corporation for 31/2 years before deciding to leave effective July 1, 2023. Maggy's annual salary during this time was $45,000,$52,000,$55,000, and $60,000 (she only recelved half of her $60,0002023 salary). Maggy contributed 8 percent of her salary (including her 2023 salary) to her 401(k) account. Assume YBU uses six-year graded vesting. What is Maggy's vested account balance when she leaves YBU (exclusive of account earnings)