Podcast
Questions and Answers
Which type of retirement account allows for tax-free withdrawals at retirement?
Which type of retirement account allows for tax-free withdrawals at retirement?
- Roth IRA (correct)
- Traditional IRA
- 401(k)
- 403b
What is the penalty for withdrawing funds from a traditional IRA before the age of 59.5?
What is the penalty for withdrawing funds from a traditional IRA before the age of 59.5?
- 20% penalty
- No penalty
- 50% penalty
- 10% penalty (correct)
Which retirement account type allows for contributions to be deducted from salary on a pre-tax basis?
Which retirement account type allows for contributions to be deducted from salary on a pre-tax basis?
- 403b
- SEP IRA
- Roth IRA
- 401(k) (correct)
What is the purpose of vesting in a 401(k) plan?
What is the purpose of vesting in a 401(k) plan?
Which of the following is a disadvantage of receiving monthly payments from a pension?
Which of the following is a disadvantage of receiving monthly payments from a pension?
What is the calculation used to determine the pension amount in the example provided?
What is the calculation used to determine the pension amount in the example provided?
What has happened to the number of companies offering pension plans from 1998 to 2015?
What has happened to the number of companies offering pension plans from 1998 to 2015?
Which of the following is a characteristic of a defined benefit plan?
Which of the following is a characteristic of a defined benefit plan?
What is the disadvantage of receiving monthly payments from a pension?
What is the disadvantage of receiving monthly payments from a pension?
What has happened to the number of companies offering pension plans from 1998 to 2015?
What has happened to the number of companies offering pension plans from 1998 to 2015?
Which type of retirement account allows for tax-free withdrawals at retirement?
Which type of retirement account allows for tax-free withdrawals at retirement?
What is the penalty for withdrawing funds from a traditional 401(k) before the age of 59.5?
What is the penalty for withdrawing funds from a traditional 401(k) before the age of 59.5?
Which retirement account type allows for contributions to be deducted from salary on a pre-tax basis?
Which retirement account type allows for contributions to be deducted from salary on a pre-tax basis?
What is the maximum employee contribution limit for a traditional 401(k) before the age of 50?
What is the maximum employee contribution limit for a traditional 401(k) before the age of 50?
