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Author Question: Which of the following statements about withdrawals from Section 401(k) plans is (are) true? I. The ... (Read 222 times)

pane00

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on: Jul 11, 2018
Which of the following statements about withdrawals from Section 401(k) plans is (are) true? I. The penalty tax does not apply to hardship withdrawals. II. Withdrawals may be made without penalty at age 59.5 or older.
 
  A) I only
  B) II only
  C) both I and II
  D) neither I nor II

Question 2

) Which of the following distributions from a qualified retirement plan would be exempt from the 10 percent penalty tax if the distribution occurred before the covered employee was age 59.5?
 
  I. A distribution made to an employee with a qualifying disability.
  II. A distribution made to a beneficiary or to the employee estate's after the employee's death.
  A) I only
  B) II only
  C) both I and II
  D) neither I nor II


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nhea

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

Answer: B

Answer to Question 2

Answer: C


pane00

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Reply #2 on: Jul 11, 2018
Thank you


nhea

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Reply #3 on: Jul 11, 2018
No problemo


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