If you have a defined-benefit retirement plan through your place of employment,you are considered a(n)________;and as such,there is an income limit after which your IRA contributions are no longer tax deductible.

Question

Quizplus · Accepted Answer

If you have a defined-benefit retirement plan through your place of employment, you are considered an active participant, and as such, there is an income limit after which your IRA contributions are no longer tax deductible. Option A is incorrect as there is no such term as a "restricted participant," and option B is incorrect as there is no such term as a "deactivated participant." Option D is incorrect as both options A and B are incorrect.

If You Have a Defined-Benefit Retirement Plan Through Your Place