Which of the Following Statements About the Minimum Vesting Standards

question 12

Multiple Choice

Which of the following statements about the minimum vesting standards for a qualified defined benefit plan is (are) true?
I.Under cliff vesting,an employee must be at least 50 percent vested after 5 years of service.
II.Under graded vesting,an employee must be at least 20 percent vested after 3 years of service and 100 percent vested after 7 years.

• A)I only
• B)II only
• C)both I and II
• D)neither I nor II

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Definitions:

Long

Descriptive of something with a great length or duration, extending far from end to end.

Dangling Modifier

A word or phrase that modifies a word not clearly stated in the sentence, often leading to confusing and grammatically incorrect sentences.

Misplaced Modifier

A grammatical error where a modifier (word, phrase, or clause) is placed in a sentence in such a way that it appears to modify an unintended word, leading to ambiguity or confusion.

Family

A social group consisting of parents, children, and sometimes extended relatives, bonded by genetic, legal, or emotional ties.