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Which one of the following is true about employer contributi

Thesis Help Finance Which one of the following is true about employer contributi

Finance

Which one of the following is true about employer contributi

Which one of the following is true about employer contributions into a money purchase p… Show more Question 1 Which one of the following is true about employer contributions into a money purchase plan? a. contributions cannot exceed 30% of an employee’s compensation b. in 2011, the maximum dollar amount of annual contributions to an employee’s account cannot exceed $50,000 c. plan contributions go into a pooled account rather than into individual employee accounts d. plan benefits accumulate in individual employee accounts which will be available at retirement or termination of employment 2.5 points Question 2 Which one of the following provides the greatest amount of flexibility for employer profit sharing plan contributions? a. a discretionary provision b. a formula provision c. a money purchase paired plan provision d. a target benefit provision 2.5 points Question 3 Qualified plans require that the purchase of life insurance be governed by what are described as “incidental limits”. What is the limitation on purchasing life insurance in a profit sharing plan? a. all amounts in the plan may be used b. all amounts that have been in the plan for a least two years may be used c. no amount of plan assets may be used d. no more than 50% of plan assets may be used • Show less

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