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

Free

80.2K

Verified Solution

Question

Finance

1.         Individuals thatare self-employed may participate in FinancialInstitution-administered retirement accounts that offeringtax-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 planin which the employee chooses how funds are invested.
A.     401kplan
B.      defined benefit plan
C.      Roth IRA
D.     traditional IRA
E.      under-funded plan
3.         For an employeeto retain her company’s pension benefits rights should she leavethe firm, she must be _ .
A.     a definedcontributor
B.      guaranteed
C.      insured
D.     invested
E.      vested
4.         If a pensionplan sponsor promises an employee a specific schedule of benefitsupon retirement, the plan is a(n) _.
A.     401kplan
B.      defined contribution plan
C.      defined benefit plan
D.     insured pension plan
E.      under-funded plan
5.         Key Federallegislation passed in 1974 concerning theadministration of pension plans is the ______ .
A.     ERISA
B.      Financial Services ModernizationAct
C.      Keogh Act
D.     PBGC Act
E.      Roth Act

Answer & Explanation Solved by verified expert

4.2 Ratings (834 Votes)

1.Individuals that are self-employed may participate in Financial Institution-administered retirement accounts that offering tax-deferred benefits. These are ________A.     401(k)
C.      defined benefit plan and
D.     Keogh account

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

B. defined benefit plan

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

D.Vested

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

C. defined benefit plan

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

A. ERISA

Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:

Unlimited Question Access with detailed Answers
Zin AI - 3 Million Words
10 Dall-E 3 Images
20 Plot Generations
Conversation with Dialogue Memory
No Ads, Ever!
Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!

Become a Member