Kaysia participates in a SIMPLE plan provided by her employer.In 2014,she contributes 6% of her $40,000 salary,and her employer contributes 3% to the plan.What amount of the contributions will be vested in her account at the end of 2014?

Question

Quizplus · Accepted Answer

Kaysia's contribution is 6% of $40,000, which is $2,400. Her employer contributes 3% of $40,000, which is $1,200. The total vested amount in her account at the end of 2014 is $2,400 + $1,200 = $3,600.

Kaysia Participates in a SIMPLE Plan Provided by Her Employer