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Questions and Answers
What are the common sources of income for retirement?
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?
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?
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?
What is an example of a non-qualified pension plan?
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What is the benefit of a qualified pension plan regarding employee taxation on withdrawals?
What is the benefit of a qualified pension plan regarding employee taxation on withdrawals?
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