True/False
Under a defined benefit plan,the annual benefit payable to an employee is limited to the smaller of $200,000 (in 2012)or 100% of the employee's average compensation for the highest 3 years of employment.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q7: What statement is false with respect to
Q24: A participant who is at least age
Q37: If a taxpayer receives an early distribution
Q76: Dianna participates in a defined benefit plan
Q77: Income is not taxed if a taxpayer's
Q81: Group term life insurance is considered to
Q83: Traditional IRA contributions made after an individual
Q84: The $1 million limitation for deductible executive
Q85: If an individual is ineligible to make
Q90: Any pretax amount elected by an employee