403b plan - Study guides, Class notes & Summaries

FPC Practice Exam 188 Questions with Verified Answers Cafeteria plan are authorized by what Internal Revenue Code Section? A. 125 B. 401k C. 403b D. 457b - CORRECT ANSWER a. 125 all of the following are tax implications of a cafeteria plan except: a. no income tax withholding b. no social security and medicare tax withholding c. must withhold income, social security, and medicare taxes d. no form W2 reporting - CORRECT ANSWER C. must withhold income, social security, and medicare t...

Life and Health License Maine Already Graded A+ "Completing application" 2 basic Parts: Part 1: general information Part 2: Medical information "Insurance Transaction" (by email or other means) Solicitation Negotiations Sale Advising an individual concerning coverage or claims "Original Medicare" Part A & B (COBRA) Consolidated Omnibus Budget Reconciliation Act requires any employer with 20 or more employees to extend group health coverage to terminated employees and their famil...

HRMN 3420 Final Exam Questions and Answers 100% Pass Benefits average roughly __% of total employee compensation cost - Answer- 30% Expectancy theory - Answer- People choose to behave in certain ways because they are motivated by the results (or in most cases, rewards) they expect to get from those choices Benefits are ______ compensation of value to employees - Answer- Indirect compensation Why benefits grow - Answer- -Tax benefits -Statutory requirements -Influence of organized labor...

HRCI: SPHR/PHR Exam 120 Questions with Verified Answers Davis-Bacon Act - CORRECT ANSWER Requires contractors using federal funds to pay wages and fringe equal to or greater than the local market wage What is the HR Significance of the Davis-Bacon Act? - CORRECT ANSWER Applies if receiving federal funds for work or projects Walsh-Healey Act - CORRECT ANSWER Establishes the time-and-a-half overtime rule for hours in excess of 40 in a week for nonexempt employees What is the HR Signifi...

Life and Health License Maine Solved 100% Correct!! Lapse policy termination due to nonpayment of premium Premium amount paid to the insurance company for the insurance policy "Insurance Transaction" (by email or other means) Solicitation Negotiations Sale Advising an individual concerning coverage or claims Elements of legal contract to be legally binding (4 Essential elements) 1. Agreement 2. Consideration 3. Competent Parties 4. Legal Purpose Consideration (contract) Is ...

Life Insurance and Health Insurance Exam Questions with Correct Answers 2023 Section 529 Plans Correct Answer: - state provided - Can be funded by after tax dollars - Can pay prepaid tuition - All earnings exempt from federal taxes - If withdrawn for unqualified withdrawal, 10% penalty Roth IRA Correct Answer: private retirement plan that taxes income before it is saved, but which does not tax interest on that income when funds are used upon retirement Distributions don't have to st...

FPC Certification Exam 62 Questions with Verified Answers FLSA - CORRECT ANSWER Fair Labor Standards Act Journal - CORRECT ANSWER Debits and credits to a specific ledger accout Is batch processing interactive? - CORRECT ANSWER No By when must employers inform employees to submit a new W-4 if marital status or # of allowances have changed? - CORRECT ANSWER December 1st Are non qualified deferred compensations plans subject to contribution limits? - CORRECT ANSWER No What plans a...

2024 APHR- COMPENSATION AND BENEFITS SECTION 3 EXAM WITH CORRECT ANSWERS

FPC Practice Exam 188 Questions with Verified Answers Cafeteria plan are authorized by what Internal Revenue Code Section? A. 125 B. 401k C. 403b D. 457b - CORRECT ANSWER a. 125 all of the following are tax implications of a cafeteria plan except: a. no income tax withholding b. no social security and medicare tax withholding c. must withhold income, social security, and medicare taxes d. no form W2 reporting - CORRECT ANSWER C. must withhold income, social security, and medicare t...

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 under the pre-amendment vesting schedule for both pre-and post-a...