Neil terminated employment with Mule’s Bar and Grill (MBG) a…

Neil terminated employment with Mule’s Bar and Grill (MBG) after completing 5 years of service. MBG sponsors a 401(k) profit sharing plan with a dollar for dollar match up to 6% of compensation. During his employment, Neil deferred 6% of his salary in order to take full advantage of the match. His account balance totaled $50,000, of which $20,000 was attributable to MBG profit sharing contributions and $30,000 was attributable to Neil’s deferral contributions and the employer match on those deferral contributions. At this time, considering Neil has terminated employment and that MBG’s 401(k) profit sharing plan is not top-heavy and follows the least generous graduated vesting schedule permitted under PPA 2006, which applies to all employer contributions. What is Neil’s vested account balance in the 401(k) profit sharing plan?

Henry, who is 48 years old, works for GN-BA!, Inc., with a s…

Henry, who is 48 years old, works for GN-BA!, Inc., with a salary of $330,000, a car allowance, and a very nice expense account. GN-BA! is a Fortune 750 company that sponsors a defined benefit plan that pays two percent times years of participation times the average of the three final years of compensation. In addition, GN-BA! sponsors a 401(k) / profit-sharing plan and contributes 18% of employees salary to the profit-sharing plan. There is no additional match. If the ADP of the NHCEs is 3%, what is the maximum that Henry can defer this year (2024)?   

You are an intern at a company that wants to use TikTok to c…

You are an intern at a company that wants to use TikTok to communicate with their customers. You have extensive knowledge on TikTok, having uploaded multiple videos that have earned more than 100,000 likes. Due to your experience, your company turns to you to lead their efforts on TikTok.  What kind of leader have you become?