The IRS considers Sylvia to be a highly compensated employee for Beautiful Pictures, Inc., which means that she met which one of the following criteria (assume that the previous year was 2015)?
A) either a current annual salary of more than 170,000; and, in the previous year, a 5 owner or a 1 owner of the employer's business whose annual pay was greater than 150,000
B) either an annual salary of more than 170,000; or, in the previous year, a 5 owner or a 1 owner of the employer's business whose annual pay was greater than 150,000
C) an annual salary exceeding 50,000
D) an annual salary less than 170,000
Question 2
For which reason does the IRS use the term key employees?
A) non-discrimination rules in retirement benefits
B) non-discrimination rules in health insurance benefits
C) top-heavy provisions in employer-sponsored qualified retirement plans
D) top-heavy provisions in employer-sponsored health insurance plans
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