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After graduation, you decide to accept a job at a starting salary of $50,000. That employer sponsors a 401(k) profit sharing plan with the following

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After graduation, you decide to accept a job at a starting salary of $50,000. That employer sponsors a 401(k) profit sharing plan with the following provisions: Eligibility to participate in the plan based on 21 +1 Employer adopted a 2-to-6-year graduated vesting schedule 100% dollar-for-dollar employer matching up to 10% of your salary . Part 1 - What is meant by 21 +1? Part 2 - What is the meaning of the vesting schedule (your deferrals and the employer's matching dollars)? Part 3 - What is the amount of salary you would need to defer into the plan to capture the maximum employer matching dollars? (In answering this question, make sure to address each of the three parts.) After graduation, you decide to accept a job at a starting salary of $50,000. That employer sponsors a 401(k) profit sharing plan with the following provisions: Eligibility to participate in the plan based on 21 +1 Employer adopted a 2-to-6-year graduated vesting schedule 100% dollar-for-dollar employer matching up to 10% of your salary . Part 1 - What is meant by 21 +1? Part 2 - What is the meaning of the vesting schedule (your deferrals and the employer's matching dollars)? Part 3 - What is the amount of salary you would need to defer into the plan to capture the maximum employer matching dollars? (In answering this question, make sure to address each of the three parts.)

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