EXHIBIT 13-2 Defined Contribution Plans Minimum Vesting Schedules* Full Years of Service with 3-Year Cliff 6-Year Graded Employer 1 0% 0% 2 0 20 3 100 40 4 N/A 60 5 N/A 80 6 N/A 100 *Percent of employer contributions no longer subject to forfeiture. Source: $411(a). ! Required information Problem 13-59 (LO 13-2) (Static) [The following information applies to the questions displayed below.] In 2023, Maggy (34 years old) is an employee of YBU Corporation. YBU provides a 401(k) plan for all its employees. According to the terms of the plan, YBU contributes 50 cents for every dollar the employee contributes. The maximum employer contribution under the plan is 15 percent of the employee's salary (if allowed, YBU contributes until the employee has contributed 30 percent of her salary). (Use Exhibit 13-2) Problem 13-59 Part a (Static) a. Maggy worked for YBU Corporation for 3 years before deciding to leave effective July 1, 2023. Maggy's annual salary during this time was $45,000, $52,000, $55,000, and $60,000 (she only received half of her $60,000 2023 salary). Assuming Maggy contributed 8 percent of her salary (including her 2023 salary) to her 401(k) account, what is Maggy's vested account balance when she leaves YBU (exclusive of account earnings)? Assume YBU uses three-year cliff vesting. Vested account balance _ ! Required information Problem 13-59 (LO 13-2) (Static) [The following information applies to the questions displayed below.] In 2023, Maggy (34 years old) is an employee of YBU Corporation. YBU provides a 401(k) plan for all its employees. According to the terms of the plan, YBU contributes 50 cents for every dollar the employee contributes. The maximum employer contribution under the plan is 15 percent of the employee's salary (if allowed, YBU contributes until the employee has contributed 30 percent of her salary). (Use Exhibit 13-2) Problem 13-59 Part b (Static) b. Maggy worked for YBU Corporation for 3 years before deciding to leave effective July 1, 2023. Maggy's annual salary during this time was $45,000, $52,000, $55,000, and $60,000 (she only received half of her $60,000 2023 salary). Maggy contributed 8 percent of her salary (including her 2023 salary) to her 401(k) account. Assume YBU uses six-year graded vesting. What is Maggy's vested account balance when she leaves YBU (exclusive of account earnings)? Vested account balance