Which of the following statement(s) regarding 403(b) plans is true? Assets within a 403(b)...
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Accounting
Which of the following statement(s) regarding 403(b) plans is true?
- Assets within a 403(b) plan may be invested in individual securities.
- A 403(b) plan usually provides a 3- to 7- year graduated vesting schedule.
- A 403(b) plan must pass the ACP test if it is an ERISA plan.
- In certain situations, a participant of a 403(b) plan can defer an additional $15,000 as a catch up to the 403(b) plan.
| A. | 4 | |
| B. | 1 and 2 | |
| C. | 3 and 4 | |
| D. | 2,3 and 4 |
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