The main advantage of a profit sharing Keogh plan over a money sharing Keogh plan is that profit sharing plans
A) are eligible for PBGC insurance and money sharing plans are not.
B) have higher maximum contributions than money sharing plans.
C) can have contributions that vary from year to year with profits,while money sharing plan contributions are a fixed percentage of the employee's income.
D) profit sharing Keogh plans are eligible for PBGC insurance and money sharing plans are not,and they have higher maximum contributions than money sharing plans.
E) None of these options are correct.
Correct Answer:
Verified
Q23: You want to have $1,200,000 when you
Q24: Employee plus employer contributions to a 401(k)are
Q25: A defined benefit pension plan has expected
Q26: Which of the following statements about 401(k)plans
Q27: A(n)_ plan does not require the employer
Q29: A retirement account specifically designed for self-employed
Q30: Vesting refers to
A)how long until an employee
Q31: ERISA established all but which one of
Q32: Under ERISA the maximum time period allowed
Q33: The PBGC
I. insures participants of defined benefit
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