Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. katerina nikic was hired by maple leaf sports &

Katerina Nikic was hired by Maple Leaf Sports & Entertainment (MLSE) as a soccer coach...

90.2K

Verified Solution

Question

Accounting

Katerina Nikic was hired by Maple Leaf Sports & Entertainment (MLSE) as a soccer coach and joined the defined contribution pension plan on January 1,2019, when she was first eligible. The plan, which had a two-year vesting schedule, required employee and employer contributions. Katerina then quit her job on June 30,2020, when she received a better salary from a competitor in Montreal. During the time that she participated in the MLSE pension plan, Katerina contributed $3,750 while her employer also contributed $3,750 on Katerina's behalf. Which of the following statements is true about what Katerina is entitled to from the MLSE pension plan?
Katerina is entitled to receive the current value of her $3750 contribution Katerina is entitled to $7500(plus interest) which is the total for both her, and her employer's, contributions
Katerina is entitled to get back her contribution of $3750(plus interest) and half of the amount contributed by MLSE
Katerina's termination prior to the end of the vesting period means that she is not entitled to any refund of contributions she has made into her plan
image

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

If the GTPase function of Ras is destroyed, Ras will always be on/activated. This causes increased...

Biology
Q

why can sodium borohydride be preferred in reduction to alcohols over H2/Pt?

Chemistry
Q

For each food listed below, choose whether it is a saturated fat or an unsaturated...

Biology
Q

Points 1 Effort to improve efficiency in the workplace by applying scientific principles to make...

Biology
Q

A liquid is under streamline flow through a horizontal pipe of non uniform cross sectional...

Physics
Q

Business Decision Case Ben and Chris have been lifelong friends. They are engineer-minded and have...

Accounting
Q

Requirement 2: Revise the data in your worksheet to reflect the results for the subsequent...

Accounting
Q

Gable, Inc., is a provider of home furnishings. The company uses the FIFO inventory method....

Accounting
Q

Able corporation is owned entirely by Mr. A. Able pays Mr. A $300000 in salary...

Accounting
Q

Use the following information for a manufacturer to compute cost of goods manufactured and cost...

Accounting
Q

how does QuickBooks help us in the areas which you have indicated: organize workday expenses,...

Accounting
Q

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified...

Accounting