Merrill is a participant in a SIMPLE § 401(k)plan,and he elects to contribute 4% of his $40,000 compensation to the account,while his employer contributes 3%.What amount will vest immediately,if any?

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In a SIMPLE 401(k) plan, both employee and employer contributions are immediately 100% vested. Merrill's contribution is 4% of $40,000, which is $1,600, and the employer's contribution is 3% of $40,000, which is $1,200. The total amount vested immediately is $1,600 + $1,200 = $2,800.

Merrill Is a Participant in a SIMPLE § 401(k)plan,and He