Winston Cantrell earns $70,000 annually as a business professor at Greenlaw University. Winston is a participant in the university’s defined benefit plan. Five years ago, he began doing some management and marketing consulting for small business owners. He now earns $35,000 a year as a self-employed person in addition to his university income. Winston is considering adopting a money purchase Keogh for this self-employed business. As his financial advisor, you tell Winston

A unit credit formula is based on the employee’s age.

Advantages of moving expense reimbursement include all of the following, except

If a new employee would have to sell her house at a loss to be able to relocate for a new job, the best option from a tax standpoint would be

A savings plan is subject to ERISA reporting and disclosure rules.

Under a nonqualified deferred compensation plan, constructive receipt occurs in which of the following?

George Hooper, owner of Hooper Drilling and Excavating, is considering making a $50,000 loan to a top executive. George has asked you to explain the regulations that apply to such a loan. You tell George all of the following, except

Under a nonqualified plan, a promise by an employer to pay an employee does not create an economic benefit if the promise is

Requirements for participant loans from qualified retirement plans include which of the following:

In a combination plan, retirement benefits are funded with a combination of