User Account

All Pages

Retirement, Finance Basics

Assignment Help:
Ask quQUESTION 1
1. In the ratio test used to determine whether a qualified plan is nondiscriminatory, what is the minimum percentage of nonhighly compensated employees who must be covered (as compared to the percentage of covered highly compensated employees)?
51%
60%
70%
75%

QUESTION 2
1. Which of the following vesting schedules may be used to accrue qualified defined benefit pension plan benefits attributable to regular (non-top-heavy) employer contributions?
20% vesting after 3 years of service and 100% vesting after 10 years
30% vesting after 4 years of service and 100% vesting after 12 years
100% cliff vesting after 5 years of service
100% cliff vesting after 7 years of service

QUESTION 3
1. ERISA requires reporting and disclosure of plan information to all of the following EXCEPT
Department of Labor (DOL
plan sponsors
Internal Revenue Service (IRS)
plan participants

QUESTION 4
1. Which of the following is a disclosure item relating to a qualified defined benefit pension plan that must be automatically distributed to employee-participants?
A Summary Plan Description (SPD)
A copy of the plan’s annual full financial report
A quarterly personal benefits statement
Any supporting plan documents

QUESTION 5
1. Big Bucks Bank, as the plan trustee for the XYZ Corporation profit-sharing plan, has entered into a loan with the plan secured by the individual account balances of the plan participants. What has just occurred?
A prohibited transaction
A disqualified loan
A financial obligation incurred in the ordinary course of business
A contribution to the plan consistent with the annual additions limit

QUESTION 6
1. In general, a qualified plan cannot require, as a condition of participation, an employee to complete a period of service with the employer extending beyond the later of the date on which the employee completes 1 year of service or reaches age
18 years
21 years
25 years
30 years

QUESTION 7
1. In a profit-sharing plan that is integrated with Social Security and provides a 5% base contribution, what is the maximum excess contribution percentage that may be applied?
5.7%
10%
10.7%
55%

QUESTION 8
1. If a defined benefit pension plan is determined to be top heavy, what is one practical significance of this determination?
One of two accelerated vesting schedules must be used.
Different coverage requirements and nondiscrimination tests apply.
Different eligibility requirements come into effect.
One of two maximum contribution and benefit formulas must be used.

QUESTION 9
1. What is the IRS form that also serves as a qualified plan’s annual financial report?
Form 1040
Form 1120
Form 5200
Form 5500

QUESTION 10
1. All of the following are differences between a nonqualified and qualified retirement plan EXCEPT
a nonqualified plan may discriminate in favor of highly compensated employees
a qualified plan provides for an employer deduction in the year of plan contribution
a qualified plan provides for tax-free distributions at a participant’s normal retirement age
a nonqualified plan may be exempt from some ERISA reporting and disclosure provisions
1 points
Click Save and Submit to save and submit. Click Save All Answers to save all answers.

Related Discussions:- Retirement

Time value of money, One of the projects the US loan would fund is to build...

One of the projects the US loan would fund is to build earthquake-resistant buildings. The project will begin in March 2013, last for two years and is expected to have the followin

Traditional business of deposit taking and lending, Question 1: i) Disc...

Question 1: i) Discuss  the main risks facing a retail bank in its traditional business of deposit taking and lending? ii) How can a bank manage the risks related to credit

The income statement and the balance sheet, Conduct research and explain th...

Conduct research and explain the companies, their operations, locations, markets, and lines of business. Collect financial statements for the past three years, fiscal or calendar .

Pre-tax cost of debt capital, Current cost of a bond: You know that the aft...

Current cost of a bond: You know that the after-tax cost of debt capital for Bubbles Champagne is 7 percent. If the firm has only one issue of five-year maturity bonds outstanding,

Journal entries, Sam start business with his savings $20000, a gift from hi...

Sam start business with his savings $20000, a gift from his parents $10000 and a personal loan from his friends of $5000. All money is deposited in a bank account.

Journal entry.., Financial statement

Financial statement

Proforma balance sheet, Proforma Balance Sheet This refers to the proj...

Proforma Balance Sheet This refers to the projected balance sheet at the finish of forecasting period.  The items in the proforma balance that vary with sales would be determi

Determine eps and dfl, The operating profit (EBIT) of ABC Ltd is Rs. 1,60,0...

The operating profit (EBIT) of ABC Ltd is Rs. 1,60,000. Its capital structure consists of the following: 10% Debentures Rs. 500000 12% Preference Shares 1

Som120 project, Frequency distribution for amount charged with starting poi...

Frequency distribution for amount charged with starting point 1800, class width 1000. For income use starting point 20 and class width of 10.

Scope of supply chain management, The scope of supply chain management  ...

The scope of supply chain management  Supply chain management includes the determination of suppliers; distributors, distribution channels and warehousing; manufacturing infor

Write Your Message!

Captcha
Order Assignment

Featured Services

Order Now

Popular Subjects

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd