Preston has been working for Thompson Industries for just over a year and has been part of Thompson's Deferred Profit Sharing Plan (DPSP) program from his start date. The program has a 2-year vesting period. If Preston decides to leave Thompson for another company, what will happen to the monies in his DPSP? Preston's share will have to be remitted to the government. He can transfer the funds to a DPSP with his new employer. He is allowed to take the amount he contributed when he leaves. The money contributed will be forfeited back to the other plan participants.

Answer rating: 100% (QA)

If Preston decides to leave Thompson Industries before completing the 2year vesting period in the De... View the full answer