Multiple Choice
Which of the following statements regarding contributions to defined contribution plans is true?
A) An employee who is at least 60 years of age as of the end of the year may contribute more to a defined contribution plan than an employee who has not reached age 60 by year-end.
B) Employee contributions to a defined contribution plan are not limited by the tax law.
C) Employer contributions to a defined contribution plan are not limited by the tax law.
D) The tax laws limit the sum of the employer and employee contributions to a defined contribution plan.
Correct Answer:
Verified
Correct Answer:
Verified
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