403b plan - Study guides, Class notes & Summaries

ERISA - Answer- Employee Retirement Income Security Act 1974 SOC Reports - Answer- Service Organization Controls: for external vendors SOC 1 - Answer- Internal Controls & Financial reports; used by auditors SOC 2 - Answer- Security, availability, processing integrity, confidentiality and privacy controls;used by management, regulators, and others under an NDA SOC3 - Answer- Same as SOC2, but available for public use. Tribble V Edison - Answer- Landmark court case re fiduciary resp...

Colorado Life & Health Insurance Exam | Guide with Questions and Verified Answers | 100% Correct (2024 / 2025) Question: Rollover Rules in Retirement Plans Answer: Must be done within 60 days of a distribution Question: Types of Qualified Plans Answer: -IRA; Individual Retirement Account -SEP IRA; Simplified Employee Pension IRA -Keogh Plan (HR-10) -TSA; Tax Sheltered Annuity -401K Question: IRA; Individual Retirement Account Answer: -Available to anyone with earne...

FPC PRACTICE QUESTIONS | WITH COMPLETE SOLUTIONS | 100% VERIFIED & RATED A+ cafeteria plan are authorized by what Internal Revenue Code Section? A. 125 B. 401k C. 403b D. 457b - 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 - C. must withhold income, social security, and me...

AIF Test UPDATED Exam Questions and CORRECT Answers What make you a Fiduciary? - Correct ANSWER- Being named fiduciary in governing docs Providing personalized investment advice for compensation Exercising investment discretion Having authority to appoint other fiduciaries ERISA - Correct ANSWER- Type of Plan: Private Retirement Oversight: DOL, IRS and Pension Benefit Guaranty Common Plans: 401k, Private 403b, Profit Sharing , DB Plans, SEP & SIMPLE Taft-Hartley Act (1947) - Correct A...

401k - qualified retirement plan that allows employees to take a reduction in their current salaries by deferring amounts into a retirement plan; company can also match the employee's contribution, whether it is dollar for dollar or a percentage; participants over age 50 can contribute additional money to catch up; plans are permitted early withdrawal for specified hardship such as death or disability 403B - for nonprofit organizations and for employees in the public school system; contribu...

No other qualified plan or 403(b) - ANSWER Simple IRA or Simple 401(k) Younger employees benefit from years of contributions and compounding - ANSWER Profit sharing, SEP, or Tandem Plan Business has stable cash flow and owner willing to make annual financial commitment, but either unwilling or unable to commit more than 25% compensation - ANSWER Money Purchase or Target Benefit Plan to provid age-weighted plan

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...

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...

CRPC Practice Exam #2 GRADED A LATEST 2024 What are some medical expenses not covered by Part B? - CORRECT ANSWER Most routing physicals, most immunizations, eyeglasses, hearing aids and exams, dental, and most prescription drugs. What is covered by Medicare Part A and Part B? - CORRECT ANSWER Home Health Care. What is the government health insurance program designed for individuals with low income or minimal assets regardless of their age or employment status? - CORRECT ANSWER Med...

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...