Which of the following vesting schedules may a top-heavy qualified profit sharing plan use? a. 1...
Which of the following vesting schedules may a top-heavy qualified profit sharing plan use?
a. 1 to 5 year graduated.
b. 5-year cliff.
c. 3 to 7 year graduated.
d. 4 to 8 year graduated.
Which of the following vesting schedules may a non-top-heavy profit sharing plan use?
- 2 to 6 year graduated.
- 3-year cliff.
- 1 to 4 year graduated.
- 3 to 7 year cliff.
- 1 only.
- 2 and 3.
- 1, 2, and 3.
- 1, 2, 3, and 4.
Homework Answers
Vesting Scheduled for a top heavy profit sharing plan:
The correct option is a
Vesting Scheduled for a non top heavy profit sharing plan:
The correct option is Option C 1,2 and 3.
Add Answer to:
Which of the following vesting schedules may a top-heavy
qualified profit sharing plan use?
a. 1...
Can someone assist with this question? 18. XYZ has a noncontributory qualified profit sharing plan with...
Can someone assist with this question?
18. XYZ has a noncontributory qualified profit sharing plan with 310 employees in total, 180 who are non-excludable (40 HC and 140 NHC). The plan covers 72 NHC and 29 HC. The NHC receive an average of 4.0% benefit and the HC receive 6.0%. Which of the following statements is (are) correct? 1. The XYZ company plan meets the ratio percentage test. 2. The XYZ company plan is not required to cover the lesser...
2. Dill Computer has Defined Benefit Plan. Dill Computer has a 3 to 7 year Graduated...
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Ocatagon Industries has an age-weighted profit sharing plan that uses a fixed age-weighted formula for allocating...
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(b) In the following year, the performance sharing plan parameters were: $ millions Threshold Target Stretch...
(b) In the following year, the performance sharing plan
parameters were:
$ millions
Threshold
Target
Stretch
Earnings from Operations
$420
$490
$560
Given the same level of EFO of $332, what is the size of the
profit-sharing pool using these updated parameters.
Be able to discuss the implications of raising the parameters from
one year to the next.
Profit-sharing plan at Hoechst Celanese Hoechst Celanese, a pharmaceutical manufacturer, has used a profit-sharing plan, the Hoechst Celanese Performance Sharing Plan, to...
this is the only information given Tom Grady ears $100,000 per year as a marketing executive...
this is the only information given
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this is the only information given Tom Grady earns $100,000 per year as a marketing executive...
this is the only information given
Tom Grady earns $100,000 per year as a marketing executive at Patriot Marketing, Inc. He has a 401(k)-profit sharing plan with the company and he wants you to calculate his vested balance. He has provided you with the following information: • Mr. Grady's plan is on a 2 to 6 graduated vesting schedule He has completed 4 years of service. He has earned exactly $100,000 each year with no adjustments for inflation. Mr. Grady...
Can someone assist with this question?
18. XYZ has a noncontributory qualified profit sharing plan with 310 employees in total, 180 who are non-excludable (40 HC and 140 NHC). The plan covers 72 NHC and 29 HC. The NHC receive an average of 4.0% benefit and the HC receive 6.0%. Which of the following statements is (are) correct? 1. The XYZ company plan meets the ratio percentage test. 2. The XYZ company plan is not required to cover the lesser...
2. Dill Computer has Defined Benefit Plan. Dill Computer has a 3 to 7 year Graduated vesting schedule. Billy and Danielle both qualify and participate in the plan. Billy has been working for the firm for 2 years and Danielle has been working for 5 years. a. To what levels are both Billy and Danielle vested in employer contributions? b. Assuming that the plan is considered top heavy, to what levels are both Bill and Danielle vested in employer contributions...
Which of the following statements is(are) CORRECT regarding rollovers from qualified plans or IRAs? 1. Distributions from qualified plans and IRAs require 20% mandatory withholding for federal income taxes if a trustee-to-trustee direct transfer is not used to execute a rollover. 2. A taxpayer is limited to 1 rollover in a 1-year period (on a 365 day basis) unless the rollover is a trustee-to-trustee direct transfer. 3. A distribution from a qualified plan may not be rolled over to a...
(b) In the following year, the performance sharing plan
parameters were:
$ millions
Threshold
Target
Stretch
Earnings from Operations
$420
$490
$560
Given the same level of EFO of $332, what is the size of the
profit-sharing pool using these updated parameters.
Be able to discuss the implications of raising the parameters from
one year to the next.
Profit-sharing plan at Hoechst Celanese Hoechst Celanese, a pharmaceutical manufacturer, has used a profit-sharing plan, the Hoechst Celanese Performance Sharing Plan, to...
this is the only information given
Tom Grady ears $100,000 per year as a marketing executive at Patriot Marketing, Inc. He has a 401(k)-profit sharing plan with the company and he wants you to calculate his vested balance. He has provided you with the following information: • Mr. Grady's plan is on a 2 to 6 graduated vesting schedule He has completed 4 years of service. He has earned exactly $100,000 each year with no adjustments for inflation. Mr. Grady...
this is the only information given
Tom Grady earns $100,000 per year as a marketing executive at Patriot Marketing, Inc. He has a 401(k)-profit sharing plan with the company and he wants you to calculate his vested balance. He has provided you with the following information: • Mr. Grady's plan is on a 2 to 6 graduated vesting schedule He has completed 4 years of service. He has earned exactly $100,000 each year with no adjustments for inflation. Mr. Grady...
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