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Chapter 7 - Question 8 :
Please help me to explain this question. Thank you
BJ has a vested account balance in his employer-sponsoredqualified money purchase pension plan of $60,000. He has two yearsof service with his employer and the plan follows the leastgenerous graduated vesting schedule permitted under PPA 2006. If BJhas an outstanding loan balance within the prior 12 months of$15,000, what is the maximum loan BJ could take from this qualifiedplan, assuming the plan permitted loans?
A. $15,000
B. $30,000
C. $35,000
D. $50,000
Chapter 7 - Question 8 :
Please help me to explain this question. Thank you
BJ has a vested account balance in his employer-sponsoredqualified money purchase pension plan of $60,000. He has two yearsof service with his employer and the plan follows the leastgenerous graduated vesting schedule permitted under PPA 2006. If BJhas an outstanding loan balance within the prior 12 months of$15,000, what is the maximum loan BJ could take from this qualifiedplan, assuming the plan permitted loans?
A. $15,000
B. $30,000
C. $35,000
D. $50,000
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answer
0
watching
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Keith LeannonLv2
28 Sep 2019