Last year, the owner of Quinton Enterprises decided to contribute an additional $4,000 to each employee’s 401(k) account. This amount was about four times the average annual contribution made by rank-and-file employees, but about even with the average annual contribution of the highly compensated employees. The $4,000 was about double the amount that the owner had contributed to employees’ accounts the prior year. The form of employer contribution used at Quinton Enterprises is

For individuals who have attained age 50 before the close of the tax year, what is the maximum dollar amount that may be contributed to a traditional IRA in 2015?

It is always better to roll over qualified plan assets to an IRA rather than keep the assets in the plan.

A flat amount formula provides a distribution based on

To reduce costs of installing a qualified retirement plan, a small business owner could purchase a prototype plan from which of the following?

Which of the following requirements must be met in order for a severance pay plan to be considered a welfare benefit plan for ERISA purposes?(I)payments are not contingent upon retirement(II)total payments do not exceed twice the employee’s annual compensation for the immediately preceding year(III)all payments are completed within 24 months after employment ends(IV)payments must be completed within 36 months after employment ends

Amounts deferred under nonqualified deferred compensation are never subject to Social Security taxes or Medicare taxes.

A Keogh plan is a qualified retirement plan that covers self-employed business owners and partners.

Ann has a Roth IRA. She died this year. Her son Jim is the designated beneficiary. Jim is not required to start minimum distributions next year because Roth IRAs are not subject to the required minimum distribution rules after death.

An employer can make contributions to the SIMPLE IRA of an employee who is 72 years old.