Financial Planning Questions
Click Link Below To Buy:
http://hwcampus.com/shop/coyne-messina-articles-part-2-statistical-assessment/
Profit-sharing plans can be designed to allow employees to withdraw funds from participant accounts as early as 2 years after they were contributed by the employer assuming that the employee has worked for the employer for at least 5 years.
True
False
The employer must have current or accumulated profits in order to make contributions to a profit-sharing plan.
True
False
A 401(k) provides an employee the ability to save for his or her own retirement, but it does not permit the employer to contribute.
True
False
Employee salary deferral contributions to a 401(k) plan are always 100 percent immediately vested.
True
False
Under the safe harbor rules, a withdrawal to pay a child’s college tuition is considered a safe-harbor event.
True
False
Hardship withdrawals are a subset of the broader safe harbor events category.
True
False
In 2014 and 2015, Sally owns 6 percent of the employer's stock and earns $65,000. Sally will be considered a highly compensated employee for purposes of the actual deferral percentage test for 2015.
True
False
An employer that makes one of the qualifying safe-harbor contributions to a 401(k) plan does not have to satisfy the ADP test.
True
False
One of the advantages of receiving a distribution in stock from a stock bonus plan or an ESOP is that the unrealized appreciation is not taxed until the stock is sold.
True
False
A candidate for an ESOP would like to create a market for his or her shares of the company and possibly leverage the purchase of employer stock using a loan that can increase the employer's deductible contribution beyond the normal threshold for other plan types.
True
False
A simplified employee pension (SEP) plan is a retirement plan...