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1. Individuals that are self-employed may participate in Financial Institution-administered retirement accounts that offering tax-deferred...

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Finance

1. Individuals that are self-employed may participate in Financial Institution-administered retirement accounts that offering tax-deferred benefits. These are _________________.

A. 401(k) B. 403(b) C. defined benefit plan D. Keogh account E. traditional IRA

2. A(n) ______________ is an employer-offered supplemental retirement plan in which the employee chooses how funds are invested.

A. 401k plan B. defined benefit plan C. Roth IRA D. traditional IRA E. under-funded plan

3. For an employee to retain her companys pension benefits rights should she leave the firm, she must be _______________ .

A. a defined contributor B. guaranteed C. insured D. invested E. vested

4. If a pension plan sponsor promises an employee a specific schedule of benefits upon retirement, the plan is a(n) _______________.

A. 401k plan B. defined contribution plan C. defined benefit plan D. insured pension plan E. under-funded plan

5. Key Federal legislation passed in 1974 concerning the administration of pension plans is the ____________ .

A. ERISA B. Financial Services Modernization Act C. Keogh Act D. PBGC Act E. Roth Act

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