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Veronika [31]
3 years ago
7

Sydney has worked for WillCo for the last 20 years. She just had her 60th birthday and is thinking about retirement. WillCo spon

sors an ESOP in which Sydney is a participant and has been since the plan's inception 18 years ago. WillCo stock has increased significantly and Sydney is considering diversifying her WillCo stock in the ESOP. Which of following statements is correct? a. Sydney can diversify 25% of her WillCo stock. b. Sydney can diversify 50% of her WillCo stock. c. Sydney cannot diversify until three years prior to retirement. d. Sydney can diversify all of her WillCo stock because she has more than three years of service.
Business
1 answer:
Wittaler [7]3 years ago
5 0

Answer: c. Sydney can diversify 50% of her WillCo stock.

Explanation:

Employee stock ownership plan (ESOP) is simply referred to as an employee benefit where the employees of a particular company are given ownership interest as long as some certain criteria are met.

Once the workers become qualified participants, they can diversify certain percentage of their stocks. From the 1st-5th year, a qualified participant is allowed to diversify about 25% of his or her stock account and about 50% in the 6th year.

Based on the explanation, since Sydney has worked for WillCo for the last 20 years, Sydney can diversify 50% of her WillCo stock.

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Explanation:

Giving the following information:

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3 years ago
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Full Question:

You make $10.25 per hour. You have 71/2% of your total pay taken out of your check for your 401K retirement plan. How much will be taken out for your 401K if you work 47 hours this week? You get paid time-and-a-half for all hours over 40.

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