Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How do I reply to this? I decided to use Amazon. According to their website, they have an comprehensive pension and benefits plan. They offer

How do I reply to this? I decided to use Amazon. According to their website, they have an comprehensive pension and benefits plan. They offer a 401K, health and dental care, and more. The 401k plan offers the following: For every $1 of employee contribution you make (up to 4% of your eligible pay), Amazon will contribute an additional $0.50 to your account in the form of matching contributions. You can get up to a 2% match. Note: Catch-up contributions are not matched. You become vested in matching contributions after you are credited with three years of vesting services. A year of vesting service is defined as a calendar year in which you complete 1,000 hours of service. You can contribute from 1% to 90% of your eligible pay on a pre-tax basis, Roth, or traditional after-tax basis, subject up to the annual IRS limits. For calendar year 2024, the IRS limit is $23,000 (If you turn 50 or older in 2024, you may contribute an additional $7,500 in catch-up contributions in 2024). All Amazon employees age 18 or older are eligible to join the plan immediately upon their date of hire (it may take up to 10 business days

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Accounting

Authors: Frederick D. Choi, Gary K. Meek

7th Edition

978-0136111474, 0136111475

More Books

Students also viewed these Accounting questions