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What would be the companys contribution

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Question - Samantha Montgomery (age 42) is employed by Canon Company and is paid a salary of $62,430. She has just decided to join the company's Simple Retirement Account (IRA form) and has a few questions. Answer the following for Montomery:

a. What is the maximum that she can contribute into this retirment fund?

b. What would be the company's contribution?

c. What would be her weekly take-home pay with the retirement contribution deducted (married, 2 allowances, wage-bracket method, and a 2.3% State income tax on total wages)?

d. What would be her weekly take-home pay without the retirment contribution?

Reference no: EM132547760

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