Question 1: Bubbles LLC is a web design company that operates out of Boulder, Colorado. Mark and Jeff started Bubbles twenty years ago and it has grown to be one of the more sizable web development firms in Colorado. Bubbles offers a 401(k) / Profit sharing plan with a Roth account option. The plan has the following characteristics: - Eligibility: age 21 and one-year of service - Match: dollar for dollar match - Vesting: 20% per year (years I through 5 ) - Profit sharing contribution: Bubbles generally makes a sizeable contribution, but the percentage varies - The plan has been amended to permit in-plan Roth rollovers - The plan permits rollovers from other qualified plans and IRAs EFE Employee Ownership Age Tenure Salary Deferral Note: Shay is Jeff's daughter: She graduated from the art institute five years ago a) Who is not eligible for the 401(k) plan? ( 6 points) b) Who is highly compensated? ( 8 points) c) Assume the company decided to make a profit-sharing contribution that was integrated with Social Security, with an integration level equal to the Social Security wage base. If the base percentage was 10% and the excess percentage was 15.7%, how much would be contributed to the plan on behalf of Mark (disregard the salary deferral)? ( 5 points)