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2 February, 06:14

Assume a qualified plan provides eligibility for all employees age 21 and older with 2 years of service. There are numerous key and highly compensated employees eligible for participation in this plan. What vesting schedule is required?

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  1. 2 February, 09:21
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    100% vesting upon plan entry

    Explanation:

    Vesting is a term in retirement that means ownership. Meaning that every employee owns (vest) a certain percentage of the account in their plan for each year.

    100% vesting means the employee owns Al of his account, the employer cannot forfeit or take it back for any reason.

    A qualified plan providing eligibility for all employees age 21 and older with 2 years of service and highly compensated employees are eligible. This will require 100% vesting upon plan entry
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Home » Business » Assume a qualified plan provides eligibility for all employees age 21 and older with 2 years of service. There are numerous key and highly compensated employees eligible for participation in this plan. What vesting schedule is required?
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