Candice wants to increase her contribution to the maximum allowed under the Internal Revenue Code. The plan's

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Candice wants to increase her contribution to the maximum allowed under the Internal Revenue Code. The plan's current limitation on employee contributions is:

a. Illegal as the only limitation on employee contributions may be imposed by the Internal Revenue Code or ERISA.

b. Illegal as this limitation affects a non-highly compensated employee.

c. Legal provided 51% of the employees agreed in advance to the restriction.

d. Legal without any approval by any third part

Related Book For answer-question

Government and Not for Profit Accounting Concepts and Practices

ISBN: 978-1118155974

6th edition

Authors: Michael H. Granof, Saleha B. Khumawala

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Posted Date: Dec 14, 2023 04:31 AM

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Candice wants to increase her contribution to the maximum allowed under the Internal Revenue Code. The plan's

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Government and Not for Profit Accounting Concepts and Practices

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