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Chapter 10 : Question 6 Hi, Please help me to solve this question with detailed explain....

Chapter 10 : Question 6

Hi, Please help me to solve this question with detailed explain. Thanks

Henry Hobbs, age 42, has compensation of $72,000. The normal retirement age for his 457(b) plan is age 62. Henry has unused deferrals totaling $21,000 as of the beginning of the year. How much can Henry defer into his 457(b) public plan for 2018?
   A.   

$18,500
   B.   

$24,500
   C.   

$27,000.
   D.   

$37,000.

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Answer #1

Correct answer is option :L A 18500

457(b) public plan for 2018 allow deferral limit of upto 18500 and the same limit increase to 19000 in FY 19. Since our question is based on FY 18 therefore correct answer is option A . 18500

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