Retirement Plans Flashcards
1
Q
Qualified Plans vs. Nonqualified Plans
A
2
Q
IRA Contributions
A
- For individuals age 50 or older, a catch-up contribution is allowed in an amount determined by the IRS tax code.
If the contribution limit is exceeded, a 6% excess contribution penalty applies to the amount over the allowable portion.
3
Q
Distributions from a traditional IRA may begin at age 59.5 and must begin no later than.
A
4
Q
ERISA regulations cover
A
5
Q
Defined Benefit Plan
A
6
Q
IRA Contribution
A
7
Q
Qualified Plan (least suitable recommendation)
A
8
Q
Roth IRA
A
9
Q
403 (b) Plan (PAYMENTS)
A
10
Q
TEST TOPIC!
A
11
Q
Ineligible Funding and Practices
A
12
Q
TAKE NOTE!!
A
13
Q
Coverdell (Education IRA)
A
14
Q
529 Plans
A
15
Q
Section 529 (TAKE NOTE)
A
16
Q
Simplified employee epnsion plans (SEPs)
A
17
Q
SIMPLEs
A
