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
Q40: Dean has earned $70,000 annually for the
Q41: Which of the following statements is true
Q42: When employees contribute to a traditional 401(k)plan,
Q43: Shauna received a distribution from her 401(k)account
Q44: Riley participates in his employer's 401(k)plan. He
Q47: When employees contribute to a Roth 401(k)account,
Q48: Jenny (35 years old)is considering making a
Q49: Which of the following statements is true
Q50: Shauna received a distribution from her 401(k)account
Q54: Shauna received a $100,000 distribution from her
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents