Simple retirement plan - Study guides, Class notes & Summaries

FiCEP Study Guide (Final) Verified Answers $1 million or more Umbrella liability coverage is laid on top of existing homeowner and auto policies to provide additional coverage of ______. $30,000 Two-thirds of working women earn less than _____ a year; when compared to men, women are more likely to work in part-time jobs that are linked to lower wages, a lower rate of promotion, a lower rate of pension, and smaller retirement benefits. $5,500 Contributions to both Traditional and Roth IR...

IRM Exam 2 TB - Questions and Answers (Complete Solutions) A defined benefit plan can help an older controlling employee in a small business maximize tax-deferred savings. True The Internal Revenue Code sets a maximum limit on the projected annual benefit that a defined benefit plan can provide. True An employee cannot be covered under both a defined benefit and a defined contribution plan. False Defined benefit plans that use the flat amount formula provide a retirement benefit that is a perc...

AWMA Questions And Answers With Verified Study Quiz Corporations receive a partial exemption for income tax purposes ANS Dividend income from investments in other companies (70,80,100% tiers) profit-sharing plan ANS incentive pay in which payments are a percentage of the organization's profits and do not become part of the employees' base salary. Employer contributes 0-25% of covered payroll, individual may not exceed lesser of 100% of company or $66k. (Defined contribution plan) SIMP...

PSI Life Exam Questions and Answers Already Passed What kind of retirement plan can a 75-employee for profit corporation establish? Simple IRA The taxable portion of a monthly income benefit paid during the annuity phase from a nonqualified annuity is calculated using the Exclusion ratio Unfair claims settlement methods and practices by an insurance company include all of the following acts EXCEPT failure to pay all claims that are reported within 90 days after a loss occurs T...

Life, Accident, & Health State Exam Simulator with Complete Solutions A Modified Endowment Contract (MEC) is best described as A life insurance contract which accumulates cash values higher than the IRS will allow According to life insurance contract law, insurable interest exists At the Time of the application Under Workers' Compensation, injured employees are covered for all of the following issues EXCEPT Pain and suffering What happens when an insurance policy is backdated? T...

Top-hat plan - Answer- A retirement plan that is unfunded and maintained by an employer primarily for the purpose of providing deferred compensation for a "select group of management or highly compensated employees" is called a (n): Economic Benefit - Answer- A theory of income taxation that imposes current tax liability on taxpayers who receive something of reasonable value is known as the doctrine of: Must be given the election to remain under the pre-amendment vesting schedule for bot...

Under a long-term care inflation rider, the benefit levels - correct answer -periodically increase without proof of insurability In order for a health plan to be an "accountable health plan", who has to approve it? - correct answer -the director Medicare Part A coinsurance payments are covered by - correct answer -Medicare Supplement Plan A Employees generally receive workers compensation benefits for - correct answer -lost wages and medical expenses due to occupational accidents W...

Which type of policy is considered to be overfudned, as stated by IRS guidelines? - correct answer - What is the maximum number of employees (earning at least $5000) that an employer can have in order to start a SIMPLE retirement plan? - correct answer -100 Which of the following statements does not accurately describe the tax treatment of premiums an benefits of individual accident and health insurance? Disability income policy premiums are not tax deductible Disability income polic...

Top-hat plan A retirement plan that is unfunded and maintained by an employer primarily for the purpose of providing deferred compensation for a "select group of management or highly compensated employees" is called a (n): Economic Benefit A theory of income taxation that imposes current tax liability on taxpayers who receive something of reasonable value is known as the doctrine of: Must be given the election to remain under the pre-amendment vesting schedule for both pre-and post-a...

Finance CHPA 17,18,19 Exam 50 Questions with Verified Answers 1. Which of the following is not a reason for investing in mutual funds? A) Small amount of funds needed B) Portfolio manager expertise C) Specific investment goals D) Overly diversified - CORRECT ANSWER D) Overly diversified 2. Advantages of investing in mutual funds include all of the following except A) diversification of your investment. B) professional management. C) meeting specific investment goals. D) there is ...