Question: 7. Nick is concerned about how he will fund contributions to a defined contribution plan. You recommend that he use a unit formula based on

 7. Nick is concerned about how he will fund contributions to

a defined contribution plan. You recommend that he use a unit formula

7. Nick is concerned about how he will fund contributions to a defined contribution plan. You recommend that he use a unit formula based on employee compensation and years of service. The formula is calculated using one unit of credit for each year of service and one unit of credit for each $10,000 in earnings. If Nick is willing to allocate $30,000 in total contributions in any given year, using a total allocation of eighty units (and disregarding any key employee or top- heavy restrictions), what is the maximum amount that will be contributed to Nick's account? a. $9,675 evol zol oud el afrion snob. $13,225 didnco blueda ada,asio G)Ine add of endity .notam ari aninisido to inlog adi of least C. $15,375 Host aril marl) mulex xed-91 ded a sbivong railg (108 and illo d. $22,750 LASU

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