What is your age and service requirement

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Reference no: EM132307491

Next week we are going to discuss establishing, administering and terminating qualified plans. Assume you are 50 years old. You have started your own business and you have 5 employees. You have decided to add a qualified plan to your employee benefit package. Tell me the following (you can assume whatever you want with regards to your answers):

1. What plan will you establish and why?

2. What are your expectations of what the employer and employee will do with this plan (i.e, will the employees contribute, will the employer contribute and if so how much and how often do you expect this will happen)?

3. What is your age and service requirement?

4. Will you cover everyone that meets the age and service requirement or will you exclude a class of employees?

5. What vesting schedule will you use?

Reference no: EM132307491

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