Question

Kathy has an account balance in her employer’s money purchase pension plan of $100,000. The plan...

Kathy has an account balance in her employer’s money purchase pension plan of $100,000. The plan uses a 2-6 year graded vesting schedule and Kathy has worked for the company for 5 years. What is the maximum plan loan that Kathy is legally permitted to take?

a. $20,000

b. $30,000

c. $40,000

d. $50,000

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