Check my work Part 1 of 4 Required information Problem 13-54 (LO 13-2) [The following information applies to the questions displayed below.] points In 2018, Maggy (34 years old) is an employee of YBU Corp.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) eBook Problem 13-54 Part a Print References a. Maggy worked for YBU Corporation for 32 years before deciding to leave effective July 1, 2018. Maggy's annual salary during this time was $45,000, $52,000, $55,000, and $60,000 (she only received half of her $60,000 2018 salary). Assuming Maggy contributed 8 percent of her salary (including her 2018 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. Check my work Part 2 of 4 Required information Problem 13-54 (LO 13-2) [The following information applies to the questions displayed below.) points In 2018, Maggy (34 years old) is an employee of YBU Corp.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) eBook Problem 13-54 Part b Print b. Same question as part a, except YBU uses six-year graded vesting. References Check my work Part 3 of 4 Required information Problem 13-54 (LO 13-2) [The following information applies to the questions displayed below.) points In 2018, Maggy (34 years old) is an employee of YBU Corp.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) eBook Problem 13-54 Part c Print c. Maggy wants to maximize YBU's contribution to her 401(k) account in 2018. How much should Maggy contribute to her 401(k) account assuming her annual salary is $100,000 (she works for YBU for the entire year)? References Maggy's contribution $ 0 Check my work Part 4 of 4 Required information Problem 13-54 (LO 13-2) The following information applies to the questions displayed below.) points In 2018, Maggy (34 years old) is an employee of YBU Corp.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) eBook Problem 13-54 Part d Print d. Same question as part (c), except Maggy is 55 years old rather than 34 years old at the end of the year. References
