Name: Score:
32 Multiple choice questions
Term 1 of 32
Categories of company goals for DC retirement plans
Should include Significant difficulties encountered during the audit, and The process
management used to develop accounting estimates, including fair market value estimates,
and the basis for the auditor's conclusions as to the reasonableness of those estimates.
Goal 1: Paternalism: The desire, or perhaps the feeling of obligation, to help employees
prepare adequately for retirement.
Goal 2: To have Competitive benefits-benefits to attract and retain workers
EEs and ERs pay the same rate of payroll taxes on wages up to the SS tax wage base.
Distributions from a tax-sheltered retirement plan will be subject to income taxes but not to
any payroll taxes.
1. Employer contributions are generally excluded form the employee's gross income.
2. Contributions to an HSA made by or for a covered individual up to the maximum annual
limit are deductible by the individual.
Module 2; objective 4.4
Term 2 of 32
Social Security Earnings test
HHA may be provided in the residence of a
home bound beneficiary
ERISA requires that A fidelity bond must be purchased to cover every person who handles
plan funds
The Social Security earnings test does not apply to investment income, dividends, interest,
rents and annuity payments.
Any amount not used by an employee by the end of the plan year can be carried over to
the next plan year at the employer's discretion.
, Definition 3 of 32
1. EE elective (before tax) deferrals and ER matching contributions are not considered wages and
are not subject to federal income tax (FIT) withholding.
2. Employer matching contributions are not subject to FICA and FUTA taxes.
Module: 2 of Study Guide.
Taxation of health savings accounts- HSAs
Cyber threats to ERISA Plans include
Tax Treatment of 401(k) plans
Summary Annual Reports (SARs)
Definition 4 of 32
Is a Supreme court case that made it difficult to argue that an ERISA plan should not have a
contractual limitations period if certain requirements are met.
Module 9, Objective 1.6
Heimeshoff v. Hartford Life Insurance Co.
Social Security Survivor benefits
Attorney-client privilege as applied to ee benefit plans
ERISA Plan document for welfare plans
Term 5 of 32
Home Health Agency (HHA) care
The Social Security earnings test does not apply to investment income, dividends, interest,
rents and annuity payments.
Must be distributed within 120 days after plan becomes subject to ERISA disclosure
requirements.
HHA may be provided in the residence of a
home bound beneficiary
ERISA requires that A fidelity bond must be purchased to cover every person who handles
plan funds
32 Multiple choice questions
Term 1 of 32
Categories of company goals for DC retirement plans
Should include Significant difficulties encountered during the audit, and The process
management used to develop accounting estimates, including fair market value estimates,
and the basis for the auditor's conclusions as to the reasonableness of those estimates.
Goal 1: Paternalism: The desire, or perhaps the feeling of obligation, to help employees
prepare adequately for retirement.
Goal 2: To have Competitive benefits-benefits to attract and retain workers
EEs and ERs pay the same rate of payroll taxes on wages up to the SS tax wage base.
Distributions from a tax-sheltered retirement plan will be subject to income taxes but not to
any payroll taxes.
1. Employer contributions are generally excluded form the employee's gross income.
2. Contributions to an HSA made by or for a covered individual up to the maximum annual
limit are deductible by the individual.
Module 2; objective 4.4
Term 2 of 32
Social Security Earnings test
HHA may be provided in the residence of a
home bound beneficiary
ERISA requires that A fidelity bond must be purchased to cover every person who handles
plan funds
The Social Security earnings test does not apply to investment income, dividends, interest,
rents and annuity payments.
Any amount not used by an employee by the end of the plan year can be carried over to
the next plan year at the employer's discretion.
, Definition 3 of 32
1. EE elective (before tax) deferrals and ER matching contributions are not considered wages and
are not subject to federal income tax (FIT) withholding.
2. Employer matching contributions are not subject to FICA and FUTA taxes.
Module: 2 of Study Guide.
Taxation of health savings accounts- HSAs
Cyber threats to ERISA Plans include
Tax Treatment of 401(k) plans
Summary Annual Reports (SARs)
Definition 4 of 32
Is a Supreme court case that made it difficult to argue that an ERISA plan should not have a
contractual limitations period if certain requirements are met.
Module 9, Objective 1.6
Heimeshoff v. Hartford Life Insurance Co.
Social Security Survivor benefits
Attorney-client privilege as applied to ee benefit plans
ERISA Plan document for welfare plans
Term 5 of 32
Home Health Agency (HHA) care
The Social Security earnings test does not apply to investment income, dividends, interest,
rents and annuity payments.
Must be distributed within 120 days after plan becomes subject to ERISA disclosure
requirements.
HHA may be provided in the residence of a
home bound beneficiary
ERISA requires that A fidelity bond must be purchased to cover every person who handles
plan funds
