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What is the maximum will receive as an employer match

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Reference no: EM132476108

Problem 1: Monarch Machines sponsors a 15% money purchase pension plan and 401(k) profit sharing plan in which the employees are permitted to defer up to 75% of their compensation. Monarch Machines matches employee deferral contributions 100% up to 6% of deferred compensation. If James, age 31, is a highly compensated employee who earns $225,000, what is the maximum he will receive as an employer match from Monarch if the ADP of the NHC is 4%?

  1. $0
  2. $11,625
  3. $13,500
  4. $22,250

Reference no: EM132476108

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