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Author Question: JKL Company just converted its traditional defined-benefit plan to another type of plan. Under ... (Read 55 times)

plus1

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on: Jul 11, 2018
JKL Company just converted its traditional defined-benefit plan to another type of plan.
 
  Under the plan, benefits are defined in terms of a hypothetical account balance, with retirement benefits dependent upon the value of the participant's account at retirement. Each year, employees receive an interest rate credit and a pay credit which is a specified percentage of compensation. This type of plan is called a
  A) section 401(k) plan.
  B) deposit-administration plan.
  C) cash-balance plan.
  D) trust fund plan.

Question 2

All the following statements concerning a Roth 401(k) plan are true EXCEPT
 
  A) After-tax dollars are used to fund the plan.
  B) Investment earnings accumulate on a tax-free basis.
  C) Employees at all income levels may contribute to the plan, but annual contributions are limited.
  D) Qualified distributions at retirement are fully taxable.


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Harbringer

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Reply #1 on: Jul 11, 2018
Answer to Question 1

Answer: C

Answer to Question 2

Answer: D


plus1

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Reply 2 on: Jul 11, 2018
:D TYSM

Kedrick2014

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Reply 3 on: Yesterday
Wow, this really help

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