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#1




Farber #92
I believe the solution is incorrect, notably the 415 percent of pay limit for 2007 and 2008.
Quote:
instead of the solution That $833.33 is then used again for 2008, but not reduced per service (as it should not be). My qualms with this problem is that instead of 833.33 as monthly pay, it should be 750. 
#2




Quote:

#4




My point exactly... I had 750 per month, but the solution states a larger number of 833.

#5




If you look at the solution, you will see that the 750 is used as of 1/1/2007, and 833 on 12/31/2007, when the participant has 10 years of service. The solution is correct.

#6




Hmm, the solution has 750 and 833 for the beginning and end of 2007, respectively. How is that so?

#7




9 years of service at the beginning of the year, and 10 years of service at the end of the year.

#8




Whoa... kept on missing the de minimis ten grand floor... sorry about the badgering Dave!

#9




That's OK  there seems to be a rumor going around that the Internal Revenue Code and regulations are confusing  imagine that!

#10




HAHA, yes.. imagine that!

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415, 415 limit, ea2a 
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