Question

In a money purchase pension plan, forfeitures revert to the plan. may be used to reduce...

In a money purchase pension plan, forfeitures

  1. revert to the plan.
  2. may be used to reduce future employer contributions.
  3. can be reallocated among the remaining plan participants.
  4. do not count against remaining participants' annual additions limits.

Question 21 options:

III and IV

I, II, and III

I and II

I, II, III and IV
Business   Finance   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

A money purchase pension plan is a kind of qualified defined contribution plan. Participant forfeiture occurs when an employee leaves service before being 100% vested in the plan. In such a case, the forfeiture reverts to the plan and it can be used to reduce future employer contributions to the plan, can be reallocated among the remaining participants and can be counted against participants' annual addition limits. Except for statement IV, the remaining three statements are correct. (Option B)

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Pension Benefit Guaranty Corporation (PBGC) insurance coverage is required for which of the following plans? Traditional...
Pension Benefit Guaranty Corporation (PBGC) insurance coverage is required for which of the following plans? Traditional defined benefit pension plan Target benefit pension plan Money purchase pension plan Profit-sharing plan Question 10 options: I and II I and IV only I only III and IV only
Identify the false statements. I. The pension adjustment for a Defined Contribution Pension Plan is calculated...
Identify the false statements. I. The pension adjustment for a Defined Contribution Pension Plan is calculated as [9 x Earnings Rate x Pensionable Earnings] - $600. II. An unmarried recipient of a corporate pension plan can choose a guaranteed period, with any remaining payments in the period paid to the beneficiary’s estate should he/she die before the period is up. III. RRIF withdrawals qualify as pension income that can be split for tax purposes between spouses younger than 65. IV....
Question 1 (1 point) Ray died this year at age 73, and his wife, Mary, age...
Question 1 (1 point) Ray died this year at age 73, and his wife, Mary, age 55, is the designated beneficiary on his Roth IRA. Ray's Roth IRA was established 3 years ago. Which of the following statements is(are) CORRECT? I Ray was not subject to required minimum distributions from his Roth IRA during his lifetime. II If Mary chooses to distribute the entire balance of the Roth IRA this year, the distribution may be subject to both regular income...
6) When a country does not meet the requirements of the SGP, it is declared in...
6) When a country does not meet the requirements of the SGP, it is declared in excessive deficit by the Council. What is the sanction imposed Select one: a. Fine of 0.2 per cent of the delinquent’s GDP. Resources are frozen until the procedure is lifted b. Fine of 0.5 per cent of the delinquent’s GDP, and an additional 0.2 per cent of GDP for further non-compliance c. Fine of 0.5 per cent of the delinquent’s GDP. Resources are frozen...
As you saw from the lab PowerPoint slides last week, you will be doing a research...
As you saw from the lab PowerPoint slides last week, you will be doing a research study looking at ‘Aggression Priming” for your first paper. For this week’s discussion, I want you to discuss with your group what you think this study is about. What is the hypothesis? What theory does it come from? What do you predict will happen (do you expect something different than the hypothesis in the researcher instructions? If so, what and why?)? Do you think...
What are 4 key things you learned about the topic from reading their paper? How does...
What are 4 key things you learned about the topic from reading their paper? How does the topic relate to you and your current or past job? Critique the paper in terms of the organization and quality. Team 3 answer questions above. Part I In today’s world we see fear among people when dealing with sexual harassment. This leads to people not reporting sexual harassment. A misconception about sexual harassment is that it’s only about touching and forcing other people...
Subject: Human Resource Management Main question: Which benefit plans would you choose, and which wouldn't you...
Subject: Human Resource Management Main question: Which benefit plans would you choose, and which wouldn't you choose and give reasons why you would or would not want a benefit that were used in making the benefit selections (specially at at entry level making $30000). PROCEDURES: Assume that you recently graduated from college and are just starting a new job at a large firm. You will be receiving a starting net pay (net of all taxes and mandatory deductions) of $30,000....
Analysis: This section should include the issue register as a bare minimum, but may include also...
Analysis: This section should include the issue register as a bare minimum, but may include also why-why diagrams, a Pareto chart, a waste table and/or value-added analysis table. Flow analysis or simulation of this case study might be possible but might require making a lot of assumptions given the provided data. The first part of the project: Introduction    Walmart has continued to retain the top position on the Fortune 500 list for a consecutive fifth year. The brand has...
I completed everything except for the last part. I know my answers are right because i...
I completed everything except for the last part. I know my answers are right because i double checked but i just dont know how to answer the last section. Problem 3-1 Schedule C (LO 3.1) Scott Butterfield is self-employed as a CPA. He uses the cash method of accounting, and his Social Security number is 644-47-7833. His principal business code is 541211. Scott's CPA practice is located at 678 Third Street, Riverside, CA 92860. Scott’s income statement for the year...
Debby Kauffman and her two colleagues, Jamie Hiatt and Ella rincon are personal trainers at an...
Debby Kauffman and her two colleagues, Jamie Hiatt and Ella rincon are personal trainers at an upscale health spa/resot in Tampa, Florida. They want to start a health club that specializes in health plants for people in the fifty plus range. The growing pop in this age range and strong consumer interest in the health benefits pf phsyical activity have convinced them they can proitably operate their own club. In addition to many other deicisions, they need to determine what...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT