Mid-Term #1 Extra Credit (Ch 15. Item Set 4: Qualified Plan Rules)
- Due Oct 19, 2017 at 11:59pm
- Points 0
- Questions 7
- Available Oct 5, 2017 at 10pm - Oct 19, 2017 at 11:59pm
- Time Limit None
- Allowed Attempts 3
Instructions
You will be working and submitting your answers for Ch 15. Item Set 4: Qualified Plan Rules
This will be easy style and you should answer the question correctly and discuss your answer to receive full credit. (You will be allowed 3 attempts and I did not put a time limit on this)
Due by Oct. 19th at 11:59pm
(The submission window will close and you will not be able to access the bonus assignment any longer.) I will NOT accept late submissions.
Bubbles LLC is a web design company that operates out of Boulder, Colorado. Mark and Jeff started Bubbles twenty years ago and it has grown to be one of the more sizable web development firms in Colorado. Bubbles offers a 401(k) /profit sharing plan with a Roth account option.
The plan has the following characteristics:
- Eligibility: age 21 and one-year of service
- Match: dollar for dollar match
- Vesting: 20% per year (years 1 through 5)
- Highly compensated definition: uses top 20% election
- Profit-sharing contribution: Bubbles generally makes a sizeable contribution, but the percentage varies.
- The plan has been amended to permit in-plan Roth rollovers.
- The plan permits rollovers from other qualified plans and IRAs.