Chapter 16 Flashcards
1
Q
A retirement plan that guarantees the amount of benefits that a retiree will receive is called..?
A
defined benefit plan
2
Q
A retirement plan that guarantees the employer’s contributions towards the employee’s retirement fund is called..?
A
defined contribution plan
3
Q
A retirement plans that are filed with the IRS and give the owner tax benefits is called..?
A
qualified plan
4
Q
Retirement plans that are NOT filed with the IRS are called..?
A
non-qualified plans
5
Q
__________ dictates when employees can access the employer-contributed funds deposited in their qualified retirement account.
A
Vesting schedule
6
Q
A retirement plan paid for with ‘pre-tax’ dollars is called a..?
A
traditional IRA
7
Q
A retirement plan paid for with ‘post-tax’ dollars is called..?
A
roth IRA
8
Q
A
