For IRAs, the early distribution penalty applies to all of the following, except

The tax rules for timing of deductions does not distinguish between current compensation and deferred compensation.

Howard Bigwig has a DBO plan with his employer. Which of the following situations would cause Howard’s death benefit to be included in Howard’s estate?

Employers cannot sponsor Roth IRAs for employees as an alternative to employer-sponsored retirement plans.

Account holders with more than one Roth IRA can treat them as separate accounts when calculating tax consequences of distributions from any of them.

Disadvantages of a DBO plan include all of the following, except

Which of the following is a disadvantage of a cash balance plan?

Bonuses generally offer an opportunity for the employee to defer taxation of compensation for more than one year.

A plan is deferred compensation if the payment is made more than 2½ months after the end of the taxable year of the corporation.

Failure to name a beneficiary can increase taxes.