Asked by Anonymous
kaysia participates in a SIMPLE plan provided by her employer. In 2011, she contributes 6% of her $40,000 salary, and her employer contributes 3% to the plan
Answers
Answered by
Ms. Sue
Are you sharing information or do you have a question?
Answered by
Anonymous
sorry... I never used this site before. It is a problem I am trying to solve
The question would be what amount of the contributions will be vested in her account at the end of 2011? I come up with 1,200
the choices are:
0
1200
2400
3600
thank you
The question would be what amount of the contributions will be vested in her account at the end of 2011? I come up with 1,200
the choices are:
0
1200
2400
3600
thank you
Answered by
bobpursley
The vesting is all the employees contribution, and up to three percent as a employers contribution
In this case, 40,000*(.06+.03)=3600
In this case, 40,000*(.06+.03)=3600
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