Ask Question
BusinessBusiness
19 July, 13:02

Wicker Rockers, Inc. is planning to offer a defined contribution plan for its employees. The company would like to incorporate a "cliff" vesting schedule for the employer contributions into the plan. What is the minimum vesting period the company can choose for a "cliff" vesting schedule

+4
Answers (1)
  1. 19 July, 13:05
    0
    Answer:3 years

    Explanation:

    Cliff vesting is when an employee of a company becomes fully vested on a specified date rather than the employee becoming partially vested in increasing amounts over extended period. Cliff Vesting is a process whereby the employees are entitled to full benefits from their firm's pension policies and qualified retirement plans on a given date.

    Upon the completion of the cliff period, employees receive full benefits. The Pension Protection Act of 2006 deduced a three-year cliff vesting schedule for the designated defined-contribution plans which includes 401Ks.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Wicker Rockers, Inc. is planning to offer a defined contribution plan for its employees. The company would like to incorporate a "cliff" ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Jian has entered into a contract with the federal government to design a computer simulation model for training helicopter pilots. The contract calls for the final price to be set at a fixed percentage profit over and above her cost of production.
Answers (1)
Andy derives utility from two goods, potato chips (p) and cola (c). Andy receives zero utility unless he consumes some of at least one good. The marginal utility that he receives from the two goods is given as follows:
Answers (1)
Name and briefly describe the three essential principles of test construction
Answers (1)
The GAP is a global clothing retailer for men, women, children, and babies. The following information is taken from The Gap's fiscal 2015 annual report.
Answers (1)
Jerry is entering information from the documents that show what customers bought and what they owe. What document is he working with? A. Inventory B. Balance sheet C. Invoice D. Lookup table
Answers (1)
New Questions in Business
Units to be Assigned Costs Oak Ridge Steel Company has two departments, Casting and Rolling. In the Rolling Department, ingots from the Casting Department are rolled into steel sheet.
Answers (1)
Select all the correct answers Amber is writing to an accountant that she would like to interview to gain information about the career field. What information should she include in her letter? A.
Answers (2)
What is the acid-test ratio for a merchant with the following account balances? (Round your answer to two decimal places.
Answers (2)
When the market fails to adjust for the full costs of a firm's behavior, this is called?
Answers (1)
What is the basic formula of the malthus theorem?
Answers (1)
Home » Business » Wicker Rockers, Inc. is planning to offer a defined contribution plan for its employees. The company would like to incorporate a "cliff" vesting schedule for the employer contributions into the plan.
Sign Up Forgot Password?