Question: APPLICATION QUESTIONS 1. Qualified retirement plans must meet certain require ments to receive favorable federal income-tax treat- ment. Briefly explain cach of the following a.

APPLICATION QUESTIONS

1. Qualified retirement plans must meet certain require ments to receive favorable federal income-tax treat- ment. Briefly explain cach of the following

a. Minimum age and service requirements

b. Vesting provisions

c. Limitations on contributions and benefits

d. Early distribution tax penalty

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