Jacqueline and her employer are required to make regular, prescribed contributions to Jacqueline's retirement fund. Jacqueline's contributions
Question:
Jacqueline and her employer are required to make regular, prescribed contributions to Jacqueline's retirement fund. Jacqueline's contributions are deducted from her current income. The investment income earned on the funds is not subject to tax during the accumulation period. Jacqueline cannot access the funds until her retirement, at which time they must be used to provide some form of continuous retirement income that is subject to tax. Based on this information, Jacqueline could be a member of: Question 27 options: a) a registered, contributory, defined-benefit pension plan. b) any of the above. c) a group registered retirement savings plan. d) a deferred profit sharing plan.
South Western Federal Taxation 2017 Essentials Of Taxation Individuals And Business Entities
ISBN: 9780357109144
20th Edition
Authors: William A. Raabe, David M. Maloney, James C. Young, Annette Nellen