Merrill Is a Participant in a SIMPLE § 401(k) Plan

question 20

Multiple Choice

Merrill is a participant in a SIMPLE § 401(k) plan, and he elects to contribute 4% of his $40,000 compensation to the account, while his employer contributes 3%. What amount will vest immediately, if any?

• A) $0
• B) $1,200
• C) $1,600
• D) $2,800
• E) None of above

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Definitions:

Microspheres

Tiny spherical particles, often of microscopic size, used in various applications from drug delivery systems to cosmetics, consisting of a polymer shell enclosing a vacuum or a solid substance.

Amphibians

Members of the vertebrate class that includes salamanders, frogs, and caecilians.

Ancestral Organisms

Early forms of life from which current species have descended, often studied to understand evolutionary relationships.

Fishes

Fishes comprise a diverse group of aquatic creatures with gills and fins, living in fresh or saltwater environments, known for their role in ecological systems and as a food source.