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Need helo with part C Question 1: How the Vesting Schedule Affects Employee Assets An employee who separates from service prior to becoming 100% vested

Need helo with part C
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Question 1: How the Vesting Schedule Affects Employee Assets An employee who separates from service prior to becoming 100% vested will forfeit the unvested portion of his or her account balance. The number of hours of service performed by the employee determines the employee's vesting service for each year. Assume an employee who performs at least 1,000 hours of service for a year is credited with one year of vesting service for that year. Vesting Schedule and Employee Assets A. The ABC Corporation's profit-sharing contributions are subject to the following graded schedule: ABC Corporation requires each employee to perform 1,00o hours each year in order to be credited with one year of vesting service. Larry, a part-time employee whose 401(k) account had total employer contributions of $5,400 at the end 2013. Larry performed the following hours of service for these years: ABC Corporation requires each employee to perform 1,000 hours each year in order to be credited with one year of vesting service. Larry, a part-time employee whose 401(k) account had total employer contributions of \$5,400 at the end 2013. Larry performed the following hours of service for these years: Larry resigned from ABC Corporation in January 2013. How much of the $5400 - Year one: 0\% vested - Year two: 25% vested - Year three: 50% vested - Year four: 75% vested - Year five: 100% vested Larry resigned from ABC Corporation in January 2013. How much of the $5400 is Larry entitled to take with him using the schedule in part B rather than the one in part A? Larry would be 50% vested so he would be entitled to $1,832. C. Now, assume that Larry's plan offers cliff vesting which follows the ERISA defined maximum limit for when an employee is fully vested. Knowing this, in what year is Larry fully vested? How much of the employer's contributions will Larry be able to take with him when he resigns? How much will Larry own prior to the time in which he is fully vested

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