Chapter 14 - Chapter 14 Review Questions True/False 1. 2....

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Chapter 14 Review Questions True/False 1. Once you begin drawing social security benefits, you will receive a fixed level of income for the remainder of your life. 2. For most workers, participation in the social security system is mandatory. 3. With a non-contributory pension plan, the employer makes no financial contribution to the account. 4. As social security covers more employees, employer-provided pensions and individual retirement plans re covering fewer. 5. A graded vesting schedule would legally have to give you some vesting rights even though you worked at a company only 1 ½ years. 6. Payments from a defined benefits plan will be determined by the investment performance of the retirement funds. 7. The money you put into a Roth IRA could be deductible from your taxable income in the year contributed. 8. Miles has no retirement plan at work. Therefore, $2,000 contributed to his regular IRA will be tax deductible. 9. A person who is self-employed on a part-time basis can qualify for a Keogh account. 10. A large selection of investment types can qualify as IRA investments. Multiple Choice 1. The major financial benefit of beginning your retirement funding early is related to a. increased cost of living. d. increased planning. b.
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Chapter 14 - Chapter 14 Review Questions True/False 1. 2....

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