Retirement Plans Exam Review

Post-tax dollar contributions are found in

A retirement plan that sets aside part of the company's net income for distributions to qualified employees is called a

What is the maximum number of employees (earning at least $5,000) that an employer can have in order to start a SIMPLE retirement plan?

A trustee-to-trustee transfer of rollover funds in a qualified plan allows a participant to avoid

Rick recently died and left behind an individual IRA account in his name. His widow was forwarded the balance of the IRA. The widow qualifies for the

Which plan is intended to be used by a sole proprietor and the employees of that business?

All of the following statements about traditional individual retirement accounts are false EXCEPT

All of the following statements about traditional individual retirement accounts are

Premature IRA distributions are assessed a penalty tax of

An individual working part-time has an annual income of $25,000. If this individual has an IRA, what is the maximum deductible IRA contribution allowable?

When funds are shifted straight from one IRA to another IRA, what percentage of the tax is withheld?

Which tax would an IRA participant be subjected to on distributions received prior to age 59 1/2?

Which of the following is TRUE if the owner of an IRA names their spouse as beneficiary, but then dies before any distributions are made?

In a qualified retirement plan, the yearly contributions to an employee's account

What type of employee welfare plans are not subject to ERISA regulations?

How long does an individual have to "rollover" funds from an IRA or qualified plan?

A qualified profit-sharing plan is designed to

A 55 year old recently received a $30,000 distribution from a previous employer's 401k plan, minus $6,000 withholding. Which federal taxes apply if none of the funds were rolled over?

An employer that offers a qualified retirement plan to its employees is eligible to

Which of these retirement plans can be started by an employee, even if another plan is in existence?

Which product would best serve a retired individual looking to invest a lump-sum of money through an insurance company?

Traditional individual retirement annuity (IRA) distributions must start by

In an individual retirement account (IRA), rollover contributions are

An individual participant personally received eligible rollover funds from a profit-sharing plan. What is the income tax withholding requirements for this transaction?

At the age of 45, an individual withdraws $50,000 from his Qualified Profit-Sharing Plan and then deposits this amount into a personal savings account. This action would result in

An IRA owner can start making withdrawals and NOT be subjected to a tax penalty beginning at what age?

How are Roth IRA distributions normally taxed