Jamilah is a member of the defined contribution pension plan sponsored by his employer. His contributions to
Fantastic news! We've Found the answer you've been seeking!
Question:
Jamilah is a member of the defined contribution pension plan sponsored by his employer. His contributions to the plan are based on 8.5% of his salary; his employer makes a matching contribution. If Jamilah earns a basic salary of $160,500 and the money purchase limit for the year is $27,230, what is the MAXIMUM combined contribution that can be made to the RPP on behalf of Jamilah?
a) $13,643
b) $24,270
c) $27,230
d) $27,285.
Related Book For
South Western Federal Taxation 2015
ISBN: 9781305310810
38th Edition
Authors: William H. Hoffman, William A. Raabe, David M. Maloney, James C. Young
Posted Date: