Evaluate her entry date into the plan and determine, Ask an Expert

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MMC maintains a qualified defined benefit idea for eligible employees, with an effectual date of January 1, 1990. The plan year for participation and vesting purposes is the calendar year. Eligibility is age 21 + one year wait + salaried status, with monthly entry dates; Vesting is the 3-to-7 graded plan, with 1,000 hours needed in a plan year.

a. Harriet was born on 18^th November, 1957 and hired as a full-time hourly employee of MMC on 1^st December, 1988. She transferred to full-time salaried status on 1^st June, 1990.

Evaluate her entry date into the plan?
Determine Harriet's vesting years as of 31^st December, 2000?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9156452

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