Raymond has an annual salary of $⁢60,000 and contributes 7% of his salary to a 401(k) plan. His employer matches 50% of his contribution up to 6% of his salary. The company's vesting schedule is graded 25% per year over 4 years. How much will the employer contribute annually, and how much will be vested after 4 years?

Raymond contributes 7% of $60,000, but the employer matches only up to 6%: 0.06 × $60,000 = $3,600. The employer contributes half of that, or $1,800 per year. Over four years, that totals $7,200, and the 25%-per-year vesting schedule makes the full amount vested after four years, so the answer is $1,800 annually and $7,200 vested.

AI-written and checked against the verified answer.