Question
Elaine has worked at Pendent Publishing since January 1, 2012. The company offers a defined contribution plan. It matches 100 percent of employee contributions to
Elaine has worked at Pendent Publishing since January 1, 2012. The company offers a defined contribution plan. It matches 100 percent of employee contributions to the plan up to 6 percent of her salary. Prior to 2017 Elaine had contributed $40,000 to the plan and her employer had contributed $28,000 to the plan. In 2017 Elaine contributed $17000 to her traditional 401(k). What is that amount of her employers matching contribution for 2017? Assuming the company uses a six year graded vesting schedule, what is Elaine's vested balance in the plan at the end of 2017?
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