Which of the Following Is True of Retirement Plans

A defined benefit plan generally favors older age entrants. Money is set aside for retirement after tax reductions.

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Which of the following is TRUE about a qualified retirement plan that is top heavy.

. Social Security is intended to be a persons sole retirement income. Answered expert verified. Social security is typically the only type of retirement benefit.

All of the above. More than 60 of plan assets are in key employee accounts An individual participant personally received eligible rollover funds from a profit-sharing plan. Defined-contribution plans are less preferred by employers.

They are plans offered through employers b. Distributions are taxable only prior to age 59½. Which one of the following statements is true for a defined benefit plan.

Which of the following is true of defined benefit retirement plans. In cash balance plans all contributions are made by employers. As a result the employer terminates a defined benefit plan and replaces it with a 401k plan.

Must meet ERISA requirements to be a qualified plan. Which of the following is generally true about 401k and 403b retirement plan. Which of the following is TRUE about a qualified retirement that is top heavy.

More than 50 of plan assets are in key employee accounts d. Income taxes plus a 10 penalty tax on 30000 The correct answer is Income taxes plus a 10 penalty tax on 30000. They restrict when you withdraw your money d.

Good retirement plans allow organizations to better Which of the following is true of retirement plans. A A Keogh plan is usually used by high income individuals. Which of the following are acceptable reasons for an employer to terminate a qualified retirement plan.

The same vesting rules apply to defined benefit plans and defined contribution plans. BThey offer some tax benefits. The best answer is D.

Defined-benefit plans are generous to young employees. AThey are plans offered through employers. The employer is not profitable and cannot afford to make plan contributions.

Requires the fiduciary to. Which of the following is true of defined benefit retirement plans. C Self-employed individuals can choose from several plans including SEP plans and one-participant 401k plans.

Employer contributions to a defined contribution plan must vest faster than employer contributions to a defined benefit plan. Solution for Which of the following is TRUE regarding qualified retirement plans. 7 which of the following is true regarding erisa and.

Which of the following is true regarding ERISA and qualified plans. A I only B II only C both I and II. They offer some tax benefits c.

More than 60 of plan assets are in key employee accounts. Unions created OSHA and carry out its programs. Which of the following statements concerning vesting under qualified retirement plans is are true.

The amount of benefit paid at retirement is predetermined. Which of the following is true of retirement plans. All of the following statements are true regarding defined benefit plans EXCEPT.

Noncontributory plans are contributed by employees. Which of the following is true of federal legislations on retirement plans. OSHA suggests that companies have labor.

Contributions made to the plan can vary from year to year B. Many unions have safety provisions complementing OSHA rules and requirements. They typically do not guarantee benefits.

Select all that apply. Employees with the highest salaries and the fewest years to retirement benefit the most C. D It can discriminate in benefits and selecting participants.

PBGC is responsible for enforcing ERISA. Social security is typically the only type of retirement benefit that most people. They are most common in private sector and nonunionized workforces.

Nonqualified retirement plans do not meet the IRS requirements for favorable tax treatment of deductions and contributions. The investment risk is borne by the employee. Which of the following accurately describes the relationship between OSHA and labor unions.

Which of the following is true about 401 k plans. They are most common in private sector and nonunion workforces. Which of the following is true of retirement plans.

The maximum retirement benefit payable from a defined benefit plan is the lesser of 100 percent of the participants compensation or. Therefore they do not need to be approved by IRS. Which of the following is not true of retirement plans for the self-employed.

Which of the following is generally true about 401k and 403b retirement plans. All of the following statements are true regarding defined benefit plans EXCEPT. Which of the following is not true with regard to pension plans.

More than 30 of plan assets are in key employee accounts b. C Contributions are not currently tax deductible. In addition any withdrawals made before age 59 1 2 is subject to an additional tax penalty of 10 of the amount withdrawn.

All withdrawals from a qualified retirement plan are taxable as current income. Pensions must be vested in the employer after five years of employment. CThey restrict when you can withdraw your money.

A defined contribution pension plan creates a liability for the employer. DAll of the above. All of the following retirement plans allow for the same maximum salary reduction contribution EXCEPT a.

Employers are required to pay the full amount for the taxes collected as part of the Social Security program. Which of the following is true of defined benefit retirement plans. The employer wants to reduce the cost of retirement benefits.

B Under a SEP a maximum contribution of 55000 is allowed for 2018. Pension plans are arrangements designed to provide income to individuals during their retirement years. More than 40 of annual additions are for key employee accounts c.

Which of the following is generally true about 401k and 403b retirement plans. Which of the following is. They typically do not guarantee benefits.

Money is set aside for retirement before tax reductions. Benefits paid to employees consists of a tax free return of capital and a taxable return of earnings. All employers match employee contributions.

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