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Coach Faucheuxs 401(k)/profit sharing plan (PSP) has standard graded vesting. Consider the following: (Ch. 5) $200,000 Total balance for his account $60,000 PSP contributions $40,000
Coach Faucheuxs 401(k)/profit sharing plan (PSP) has standard graded vesting. Consider the following: (Ch. 5)
$200,000 Total balance for his account
$60,000 PSP contributions
$40,000 Earnings on PSP contributions
$39,000 Deferrals
$21,000 Earnings on deferrals
$40,000 Match and earnings on the match
Years of Service | All Employer Contributions |
2 to 6 Year Graduated | |
1 | 0 |
2 | 20% |
3 | 40% |
4 | 60% |
5 | 80% |
6 | 100% |
If Faucheux leaves four weeks before his four-year anniversary, how much is vested?
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