One of the disadvantages of an ESOP is that the stock is in…
One of the disadvantages of an ESOP is that the stock is in an undiversified investment portfolio. Which of the following statements is correct about an ESOP that defines normal retirement age to be 66?1. An employee may require that 25 percent of the account balance be diversified so long as he/she is age 65 and completed 10 years of service.2. An employee may require that 50 percent of the account balance be diversified during their sixth & final year of their qualified election period that begins when the employee is deemed a qualified participant.