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natita [175]
2 years ago
6

In addition to the Small Business Job Protection Act of 1996 encouraging small businesses to allow employees to enroll into a 40

1(k), what percentage of vesting begins immediately for the employee
Business
1 answer:
Elanso [62]2 years ago
6 0

Answer:

100%

Explanation:

401(k) plans are financial provisions that guarantee financial security after retirement. Prior to the Small Business Job Protection Act of 1996, these provisions were bogus and difficult to understand/comply with by businesses. The Act simplifies the requirements and allows employees to enroll in the 401(k) plans where the annual contributions testing is bypassed. Employees vest 100% of their salary. This means that they cannot forfeit all the money contributed. After retirement, they can benefit from their deferrals and profits.

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