Final answer:
Option (a), The statement can be true, as vesting periods for stock bonus plans like ESOPs can vary, and a six-year period before eligibility is a possibility.
Step-by-step explanation:
A stock bonus plan may require an employee to attain six years of service before considering the employee eligible: this statement can be true or false depending on the specific terms and conditions of the employer's stock bonus plan. Plans such as Employee Stock Ownership Plans (ESOPs) can have various vesting schedules as per the company's policy or as regulated by law.
For instance, some plans may vest gradually over a period of time through a process known as graded vesting, where an employee would become gradually more entitled to the stock bonuses over several years. Alternatively, a plan may require a 'cliff vesting' period, where after a certain number of years, often ranging between three to six years, the employee becomes fully entitled to the stock bonuses.
Typically, the Employee Retirement Income Security Act (ERISA) regulates these kinds of plans and sets maximum limits on vesting schedules, but companies have the latitude to offer faster vesting if desired. Therefore, while six years could be a potential requirement for eligibility, it can also be less or more depending on the company's plan structure.