Customer AccountsCâu 83 / 110
A key characteristic of a SEP IRA is that:
a.Only employees may contribute, through salary reduction
b.Contributions are made after tax and grow tax free
c.The plan requires annual actuarial certification
d.Contributions are made by the employer into IRAs established for eligible employees
Giải thích
A simplified employee pension is funded by employer contributions deposited into each eligible employee's own IRA, which keeps administration light. Salary deferral is the mechanism in 401(k) and SIMPLE plans. SEP contributions are deductible to the employer and grow tax deferred, and no actuary is needed because it is a defined contribution arrangement.
Trích dẫn luật: Internal Revenue CodeLuyện miễn phí toàn bộ 110 câu hỏi — không cần đăng ký.
Câu hỏi liên quan cùng chủ đề
- Which statement about required minimum distributions is correct?
- A 401(k) plan is best described as:
- A 403(b) tax-sheltered annuity plan is available to employees of:
- A customer receives a distribution check from a former employer's 401(k) plan and wants to move the money to an IRA. Which statement is correct?
- Before recommending a variable annuity to a retail customer, a representative must have a reasonable basis grounded in which information?
- A 72-year-old retiree needs to draw income from a $60,000 lump sum within the next 12 months and has no other liquid savings. Which recommendation is least suitable?
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