401 k plan - Study guides, Class notes & Summaries

H & R Block Income Tax Study Guide (New 2024/ 2025 Update) Questions and Verified Answers| 100% Correct QUESTION Exceptions to the Early Withdrawal Penalty Answer: 01 - The distribution was made to an employee who separated from service during or after the year in which they reached age 55. 02 - The distribution is part of a series of substantially equal periodic payments, made at least annually for the life of the participant or the life expenctancy of the participant. 03 - T...

The 4 basic elements of an employee welfare benefit plan are: 1. there must be a plan, fund or program 2. the plan, fund or program is established or maintained by an ER 3. the plan, fund or program is for the purpose of providing specifically listed benefits, through the purchase of insurance or otherwise 4. benefits are provided to participants and beneficiaries The courts have held that a plan, fund or program under ERISA is established if from the surrounding circumstances,...

RPA 1 - Final Exam 100 Questions and Answers Latest 2022 Already Passed Top-hat plan A retirement plan that is unfunded and maintained by an employer primarily for the purpose of providing deferred compensation for a "select group of management or highly compensated employees" is called a (n): Economic Benefit A theory of income taxation that imposes current tax liability on taxpayers who receive something of reasonable value is known as the doctrine of: Must be given the election to remain ...

WISE-Money Management/Financial Plan Exam Questions and Answers 100% CorrectWISE-Money Management/Financial Plan Exam Questions and Answers 100% CorrectWISE-Money Management/Financial Plan Exam Questions and Answers 100% CorrectWISE-Money Management/Financial Plan Exam Questions and Answers 100% Correct 401 (k) - ANSWER-a tax-deferred investment and savings plan that acts as a personal pension fund for employees Asset - ANSWER-anything of value that is owned Balance Sheet - ANSWER-lists c...

Primerica UCanPass Practice 2023 Questions and Answers with complete solution 401 K Plan A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit Policy provision that allows full or partial ...

SIE Practice Exam 2 Questions and Answers Already Passed What documentation is required by the IRS if a taxpayer uses the substantially equal periodic payment (SEPP) exception to avoid early withdrawal penalties? A. Evidence of financial difficulty B. Proof that withdrawals are for qualified medical or educational expenses C. Verification of proper tax withholding D. None of these options D What term refers to an individual who provides compensation-based advice on securities, m...

Defined contribution plan People funding their retirement savings with their own money 401(k) plan Tax-free contributions are deducted from an employee's payroll and invested in securities Accounts receivable Money owed to a business by its customers (financial records including expenses, money received, and money owed)

WISE-Money Management/Financial Plan Questions and Answers 100% Pass What is a 401(k) plan? A 401(k) is a tax-deferred savings and investment plan designed to serve as a personal retirement fund for employees. What constitutes an asset? An asset is anything valuable that an individual or entity owns. What does a balance sheet detail? A balance sheet is a financial statement that displays assets, liabilities, and equity as of a specific date. What is a bank mortgage? A bank...

Colorado Mental Health Jurisprudence Exam Questions And Answers 2023/2024 Rated A+. Records required to be kept and record retention (DORA) - Correct Answer-SW must retain record for 7 years from the date of termination. I Record information on record - Correct Answer-name, phi, referral reason, mandatory disclosure statement. (5) Dates of service including, but not limited to the date of each contact with client, the date on which services began, and the date of last contact with client; ...

401 k plan - ANSWER A qualified retirement plan in which the employee can set aside a portion of their income with pre-tax dollars. Absolute Assignment v. Collateral Assignment - ANSWER Absolute: A permanent and irrevocable transfer of rights and/or benefits by the policyowner. Collateral: A temporary and/or revocable transfer of benefits by the policyowner. Accelerated Death Benefit - ANSWER Policy provision that allows full or partial payment of the policy's de...