Georgeanne Has Been Employed by SEC Corp

question 20

Essay

Georgeanne has been employed by SEC Corp. for the last 2½ years. Georgeanne participates in SEC's 401(k) plan. During her employment, Georgeanne has contributed $6,000 to her 401(k) account. SEC has contributed $3,000 to Georgeanne's 401(k) account (it matched 50 cents of every dollar contributed). SEC uses a three-year cliff vesting schedule. If Georgeanne were to quit her job with SEC, what would be her vested benefit in her 401(k) account (assume the account balance is $9,000)?

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Definitions:

Effective Hotlines

Confidential channels through which individuals can report unethical behavior or seek guidance on ethical dilemmas.

Anonymous Basis

Conducting activities or making communications without revealing one's identity, often for privacy, safety, or confidentiality reasons.

Corporate Codes

Formalized rules and principles that guide the behavior and decisions of an organization and its employees.

Too Legalistically

An approach that follows the law or rules too strictly or rigidly, often sacrificing fairness or equity.