Homework Answers
Solution: The SIMPLE 401(k) does not have to satisfy the special non-discrimination rules applying to the traditional Section 401(k) plan.
Explanation: Unlike a traditional 401(k), A SIMPLE 401(k) plan would not be subject to the special annual non-discrimination rules that are applicable to traditional 401(k) plans
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36. What is a difference between a traditional Section 401(k) and a Section 401(k) plan established...
Which of the following statements comparing a SIMPLE IRA with a 401(k) plan is correct? ...
Which of the following statements comparing a SIMPLE IRA with a 401(k) plan is correct? (A) The same amount of salary deferral is permitted for employees in both plans. (B) The participants are able to withdraw their money more easily from a 401(k) than from a SIMPLE IRA. (C) The employer may make matching and nonelective contributions with both plans. (D) If rank-and-file employees did not participate, a 401(k) plan would generally not work, but a SIMPLE IRA would still work.
Kimberly participates in a 401(k ) plan through her employer, but does not plan on retiring...
Kimberly participates in a 401(k ) plan through her employer, but does not plan on retiring anytime soon. She is 70 years old on the last day of this year, which means she is subject to mandatory minimum distribution rules on April 1 of the following year. If her qualified account balance as of the end of last year was $500,000 what will the minimum distribution she has to take from her 401(k) plan (round to the nearest dollar)?
During 2018, Jill, age 39, participated in a Section 401(k) plan which provides for maximum employee...
During 2018, Jill, age 39, participated in a Section 401(k) plan which provides for maximum employee contributions of 8%. Jill's salary was $91,600 for the year. Jill elects to make the maximum contribution. What is Jill's maximum tax-deferred contribution to the plan for the year? $___________ Linda installed a special pool for the hydrotherapeutic treatment of severe arthritis, as prescribed by her doctor. The cost of installing the pool was $20,000, and her insurance company paid $5,000 toward its cost....
peter molloy is considering making a contribution to an IRA, but his employer has a profit-sharing...
peter molloy is considering making a contribution to an IRA, but his employer has a profit-sharing plan. Plan benefits vest over 6 years, and peter is 60% vested. The employer made no contribution to the plan for the year. No employees have terminated during the year. Which of the following statements concerning Peter’s contribution to an IRA is correct? peters contribution will not be deductible because contributions are not required every year to profit-sharing plan. Peters contribution will be deductible...
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Using the book, write another paragraph or two: write 170 words: Q: Compare the assumptions of...
Using the book, write another paragraph or two: write 170
words:
Q: Compare the assumptions of physician-centered and
collaborative communication. How is the caregiver’s role different
in each model? How is the patient’s role different?
Answer: Physical-centered communication involves the specialists
taking control of the conversation. They decide on the topics of
discussion and when to end the process. The patient responds to the
issues raised by the caregiver and acts accordingly. On the other
hand, Collaborative communication involves a...
Using the book, write another paragraph or two: write 170
words:
Q: Compare the assumptions of physician-centered and
collaborative communication. How is the caregiver’s role different
in each model? How is the patient’s role different?
Answer: Physical-centered communication involves the specialists
taking control of the conversation. They decide on the topics of
discussion and when to end the process. The patient responds to the
issues raised by the caregiver and acts accordingly. On the other
hand, Collaborative communication involves a...
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