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If Ashley left Woodridge Preparatory School today after 5 years of service, what would be her vested retirement balance? Hint: Vesting is based on years
If Ashley left Woodridge Preparatory School today after 5 years of service, what would be her vested retirement balance? Hint: Vesting is based on years of service, NOT years of participation. The plan has a 2- to 6 year graduated vesting schedule and she has been a participant for 4 year, the total balance of her account is $16,500.
Years of service | Vesting for Nonmatch Contributions | Vesting for matching Contributions/Top-Heavy Plans |
1 | 0% | 0% |
2 | 20 | 20 |
3 | 40 | 40 |
4 | 60 | 60 |
5 | 80 | 80 |
6 | 100 | 100 |
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