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:

Quality Team

A team that is part of an organization’s structure and is empowered to act on its decisions regarding product and service quality.

Task Functions

Actions or activities that contribute directly towards achieving the goals and objectives of a team or organization.

Team's Work

The collective effort and activities undertaken by a group of individuals working collaboratively towards a common goal or objective.

Counseling Sessions

Structured meetings between a counselor and client aimed at addressing personal issues, improving emotional well-being, and providing guidance and support.