The nurse is caring for a client admitted to the inpatient unit for suicidality and post-traumatic stress disorder. The most important initial action by the nurse is to:

Alison earned $100,000 during the year. She elected to defer $4,000 of her earnings into her employer’s 401(k) plan and her employer matched this deferral dollar-for-dollar. In this year, what amount of Alison’s earnings was subject to payroll taxes?  

Which of the following is true regarding negative elections? 1.     A negative election is a provision whereby the employee is deemed to have elected a specific deferral unless the employee specifically elects out of such election in writing. 2.     Negative elections are no longer approved by the IRS. 3.     When an employer includes a negative election in its qualified plan, the employer must also provide 100% immediate vesting.  

The following statements concerning retirement plan service requirements for qualified plans are correct EXCEPT:  

Which of the following is an example of a qualified retirement plan?  

Employment based retirement plans became widespread after the Social Security System was established.

All of the following are advantages of profit sharing plans to businesses and business owners EXCEPT:  

Donna owns Conquest Deliveries, a sole proprietorship, which sponsors a qualified profit sharing plan. The company will make a 25% of compensation contribution on behalf of each employee (including Donna) for the year. If Donna’s net self-employment income is $175,000 and her self-employment taxes total $16,000 (assumed), what is the maximum contribution to the profit sharing plan on her behalf?

An individual has a vested account balance in his employer-sponsored profit sharing plan of $120,000. He would like to take a loan for the maximum amount permitted. The individual has not taken any other plan loans before. The maximum loan the individual can take is $50,000.

Each of the following is a characteristic of a defined benefit retirement plan EXCEPT: