Qualified plans that use the replacement ratio approach typically aim at providing about percent of preretirement gross
Question:
Qualified plans that use the replacement ratio approach typically aim at providing about percent of preretirement gross income plus social security retirement benefits.
a.50-75
b.25-50
c.70-90
c.40-60
2.which of the following employees is a highly compensated employee for purposes of nondiscrimination testing?
a. An employee earning $95,000 who is not an owner and who is not an officer.
b.An officer earning $30,000
c. A non-owner employee earning $20,000 covered by a Keogh plan
d. An employee earning $70,000 who owns 2 percent of the company's stock
3.Which of the following is true regarding a qualified joint and survivor annuity?
a. it may be terminated if the spouse remarries.
b.it must provide a survivor annuity that is not less than 50 percent of the joint life annuity
c.it may not be waived by the nonparticipant spouse.
d.The married participant must request the qualified joint and survivor form at retirement
4.Les is a high-level executive with a seven-figure salary. Part of his executive compensation includes a pension. Les most likely has a pension plan.
a. highly compensated
b. qualified
c. nonqualified
d. average-rate compensaed
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill