Which of the following statements regarding 457 plan is (are) true? 1. An individual who...
80.2K
Verified Solution
Link Copied!
Question
Accounting
Which of the following statements regarding 457 plan is (are) true?
1. An individual who defers $19000 to his 403(b) plan during 2019 can also defer $19000 to a 457 plan during 2019 (salary and plan permitting).
2. A 457 plan allows an executive of a tax-exempt entity to defer compensation into an ERISA protected trust.
3. In the final three years before normal retirement age, a participant of a government sponsored 457 plan may be able to defer $36,000 (2019) for the plan year.
(a) 1 only.
(b) 2 only.
(c) 1 and 3.
(d) 2 and 3.
please explain
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!
Other questions asked by students
StudyZin's Question Purchase
1 Answer
$0.99
(Save $1 )
One time Pay
- No Ads
- Answer to 1 Question
- Get free Zin AI - 50 Thousand Words per Month
Unlimited
$4.99*
(Save $5 )
Billed Monthly
- No Ads
- Answers to Unlimited Questions
- Get free Zin AI - 3 Million Words per Month
*First month only
Free
$0
- Get this answer for free!
- Sign up now to unlock the answer instantly
You can see the logs in the Dashboard.