Question: Question 3 (8 points)- Unless stated differently use 2020 rate schedules and rules. Georgeanne has been employed by SEC Corporation for the last two and

Question 3 (8 points)-Unless stated differently use 2020 rate schedules and rules.

Georgeanne has been employed by SEC Corporation for the last two and a half years. Georgeanne participates in SECs 401(k) plan. During her employment, Georgeanne has contributed $6,000 to her 401(k) account. SEC has contributed $3,000 to Georgeanne's 401(k) account (it matched 50 cents of every dollar contributed). SEC uses a three-year cliff vesting schedule. If Georgeanne were to quit her job with SEC, what would be her vested benefit in her 401(k) account (assume the account balance is $9,000)?

SHOW WORK SHOW WORK!

Vested Benefit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!