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17. Dylan wants to retire in 15 years when he turns age 65. He ants to cial Security of return replace 75% of his current income less what he expects tore8% annual investi orable fami rate ($18,000 in today's dollars). Dylan wants you 95 based o raises to ge fnough to assume an 8% annual investment rate of return to have each year Social Security until age 95 based on his favorable family d expects his raises to eq and a 3% annual inflation rate. He expects to live health history. If Dylan currently earns $80,000 per year an of inflation, how much lump sum capital does he need at retireni goals? equal the rate a) $1,022,809 b) $1,072,460 c) $1,559,131 d) $1,583,152 18. Can a traditional 401(k) plan be integrated with Social Security? a)Yes b) No 19. Susan is 70.5 on May ist of pian. The plan had an account balance of $425,000 at the end of last year. The istribution next April 1t, what, if any, is the amount of the minimum distribution tax the current year and must receive a minimum distribution from her 401(k) 70 year old is 27.4 and for a 71 year old, it is 26.5. If Susan takes a ion period for a penalty associated with her first year's distribution? a) 0- b) S 750 c) $1,000 d) $1,014 20. Jason turned age 70.5 in November of this year. He was a participant in his employer's profit sharing plan. His 401(k) plan had an account balance of $500,000 of last year, and $450,000 of December of the preceding year. According to the Uniform Lifetime Table, the factors for ages 70, 71, and 72 are 27.4, 26.5, and 25.6, respectively. What is Jason's required minimum distribution for this year? a) $17,578 b) $18,068 c) $18,248 d) $18,868

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