Kaysia participates in a SIMPLE plan provided by her employer.In 2016,she contributes 6% of her $50,000 salary,and her employer contributes 3% to the plan.What amount of the contributions will be vested in her account at the end of 2016?

Question

Quizplus · Accepted Answer

In a SIMPLE plan, employee contributions are always 100% vested. Kaysia contributes 6% of her $50,000 salary, which is $3,000. Her employer contributes 3%, which is $1,500. The total vested amount is $3,000 + $1,500 = $4,500.

Kaysia Participates in a SIMPLE Plan Provided by Her Employer