Which uses the calendar year for vesting service calculation

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Reference no: EM133261797

Assignment:

Barry is a participant in the Creative Business Alliance 401(k) plan, which uses the calendar year for vesting service calculations. He terminates employment with the Creative Business Alliance on December 31, 2006 after earning three years of vesting service. Under the plan's 2-to-6 year graded vesting schedule, Barry is 40% vested in his $30,000 account balance. Barry is rehired by the Creative Business Alliance on March 15, 2013 and continues to work until he retires on December 31, 2020. Assume that his account balance as of December 31, 2020 is $100,000 ($30,000 attributable to the service up to December 31, 2006 and $70,000 attributable to the service from 2013-2020).

How much of the $100,000 is vested on December 31, 2020?

	a.	$0
	b.	$12,000
	c.	$40,000
	d.	$80,000
	e.	$82,000
	f.	$100,000

Reference no: EM133261797

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