Unit# 6 Employee Benefits Plans, Group Life And Retirment Plans, And Taxation Flashcards
1
Q
Can qualified plan discriminate participants ?
A
Qualified plan cannot discriminate among participants
2
Q
Tax sheltered annuities (TSA) are 403(b) retirement plans are available to whom?
A
School district employees
3
Q
Who uses 401(k) plans?
A
Used by large employers
4
Q
IRAs are used by?
A
Small employers
5
Q
Keogh (HR-10) are for?
A
Self-employed and unincorporated individuals and their employees who are eligible
6
Q
Are there joint IRAs? And can a spouse have an individual account?
A
There are no joint IRA and the spouse has to have there own account
7
Q
Why does ERISA establishes standards ?
A
To determine who is eligible to participate in a qualified plan
8
Q
What are two types of retirement plans?
A
Qualified and Non qualified
