Retirement Income Sources and Plans Quiz
5 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What are the common sources of income for retirement?

  • IRA and 401(k)
  • Social Security and pension (correct)
  • IRA and pension
  • Social Security and 401(k)

    • Under which act are qualified pension plans offered by the employer?

  • ACA
  • HIPAA
  • ERISA (correct)
  • COBRA

    • What is the main difference between qualified and non-qualified pension plans?

  • Qualified plans offer tax-exempt earnings, non-qualified plans do not
  • Qualified plans have contri limits, non-qualified plans do not (correct)
  • Qualified plans are subject to payroll tax, non-qualified plans are not
  • Qualified plans are protected from creditors, non-qualified plans are not

    • What is an example of a non-qualified pension plan?

    <p>Deferred compensation plans (457)</p> Signup and view all the answers

    What is the benefit of a qualified pension plan regarding employee taxation on withdrawals?

    <p>Employee taxed on withdrawals @ ordinary rate</p> Signup and view all the answers

    More Like This

    Retirement Planning
    14 questions

    Retirement Planning

    BlitheRubellite avatar
    BlitheRubellite
    Multi-Layered Retirement Income Security System 1
    28 questions

    Multi-Layered Retirement Income Security System 1

    WellManagedTonalism avatar
    WellManagedTonalism
    Planning Your Retirement Income
    22 questions

    Planning Your Retirement Income

    BraveNebula avatar
    BraveNebula
    Retirement Income Planning Checklist
    39 questions

    Retirement Income Planning Checklist

    LuckierActinium5738 avatar
    LuckierActinium5738
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser