Multiple Choice
Which of the following statements regarding contributions to defined contribution plans is true?
A) Employer contributions to a defined contribution plan are not limited by the tax law.
B) Employee contributions to a defined contribution plan are not limited by the tax law.
C) 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.
D) The tax laws limit the sum of the employer and employee contributions to a defined contribution plan.
Correct Answer:
Verified
Correct Answer:
Verified
Q38: Kathy is 60 years of age and
Q39: Retired taxpayers over 59½ years of age
Q40: Aiko (single, age 29)earned $40,000 in 2020.
Q41: Sean (age 72 at end of 2020)retired
Q42: Sean (age 72 at end of 2020)retired
Q44: Kathy is 60 years of age and
Q45: Lisa, age 47, needed some cash so
Q46: Which of the following statements regarding traditional
Q47: Gordon is a 52-year-old self-employed contractor (no
Q48: Which of the following is a true