What is the maximum number of years of service a plan may require before a participant is 100% vested in a qualified defined benefit plan?

Jay Casteel, age 29, ran a small water ski and jet ski rental shop in Gulf Shores. Unfortunately, near the end of the last season, a sudden storm with hurricane-force winds damaged or destroyed over half of his inventory. Revenues since the storm have been meager due to massive clean-up efforts and slower tourist trade. Jay is beginning to be pressured by some of his creditors. Jay has heard that the small Keogh fund that he started can be seized by his creditors if he cannot work out a repayment plan. You tell him that this is

Advantages of company car programs include which of the following?

Employee elections to defer compensation monthly under Section 457 can be made under an agreement entered into at any time during that month.

Volume submitter and prototype plan documents have a _____ remedial amendment cycle.

Employees who take out a loan from their profit sharing plan must pay 10% of the loan amount as a penalty as well as reasonable interest on the funds borrowed.

Homer Tanner, a foreman at Wellville Steel, pays the premium for a long-term disability policy that has a three-month waiting period and replaces 70% of pay. Homer suffered brain damage in an auto accident. Full recovery took nine months. Six months after the accident, Homer was able to return to work on a part-time basis. Still very unsteady on his feet, Homer oversaw just one section of the production line while in a wheelchair. Homer’s long-term disability payments ceased when he went back to work. Which of the following is true?(I)Homer’s long-term disability payments were taxed as ordinary income(II)Homer’s long-term disability payments were tax-free(III)the definition of disability in his long-term disability policy was “own occupation”(IV)the definition of disability in his long-term disability policy was “qualified for”(V)the definition of disability in his long-term disability policy was “total and permanent”

A volume submitter plan differs from a prototype because it

Maxton Manufacturing, Inc. uses prior year testing to monitor discrimination in its Section 401(k) plan. Last year, the actual deferral percentage (ADP) for all nonhighly compensated employees at Maxton was 4%. This year, the ADP for highly compensated employees at Maxton can be as high as

Buster Keaton, owner of Keaton Property Management, Inc., wants to establish a bonus plan for his employees. Buster must