Profit sharing plan with a dollar for dollar match up

Assignment Help Financial Management

Reference no: EM131180345

Bruno terminated employment with Philip’s Bar and Grill (PBG) after completing five years of service. PBG sponsors a 401(k) profit sharing plan with a dollar for dollar match up to 6% of compensation in which Bruno had an account balance of $50,000. Of that account balance, $20,000 was attributable to PBG non contributory contributions and $30,000 was attributable to the combination of Bruno’s deferral contributions and the equivalent employer match on those deferral contributions. At this time, considering Bruno has terminated employment and that PBG’s 401(k) profit sharing plan is not top-heavy and follows the least generous graduated vesting schedule permitted under PPA 2006, what is Bruno’s vested account balance in the 401(k) profit sharing plan?

(a) $43,000.

(b) $44,000.

(d) $47,000.

Reference no: EM131180345

Questions Cloud

Equivalent annual annuity for each machine : The Perez Company has the opportunity to invest in one of two mutually exclusive machines that will produce a product it will need for the foreseeable future. Machine A costs $10 million but realizes after-tax inflows of $4 million per year for 4 yea..

Reduce consumers incentive to purchase the extended warranty : What signal does the fact that the manufacturer offers this warranty send to potential consumers about laptop quality?- Does this reduce consumers' incentives to purchase the extended warranty?

Did bp use a proactive or reactive strategy : For your individual work, write a one - two page paper that answers the following questions: Consider the BP oil spill that spawned a heavy public relations campaign after beaches were closed and wildlife was affected. Did BP use a proactive or react..

What is the exact height of a brick wall : What is the exact height of a brick wall that is 44 courses high when three courses of brick plus their three mortar joints are 8 inches (203.2 mm) high?

Profit sharing plan with a dollar for dollar match up : Bruno terminated employment with Philip’s Bar and Grill (PBG) after completing five years of service. PBG sponsors a 401(k) profit sharing plan with a dollar for dollar match up to 6% of compensation in which Bruno had an account balance of $50,000.

Difference between social psychology andanthropology : Which of the following identifies the most important difference between social psychology andanthropology?

What woods were used and how were they sawn : Make measured drawings of millwork details in an older building that you admire. Analyze each detail to discover its logic. What woods were used and how were they sawn? How were they finished?

What is a conceptual model : What is a conceptual model? Explain the importance. Conceptual models are typical made up of three main parts. Name these parts giving a full definition and purpose. Give two possible examples of each part.

What will andrews ending balance in retained earnings : The Andrews company currently has the following balances in their equity accounts: Common Stock $83,080 Retained earnings $83,305 Suppose next year the Andrews company generates $46,300 in Net Profit, and declares and pays $16,000 in Dividends. What ..

User Account

All Pages