Chapter 23 - TOOLS & TECHNIQUES OF EMPLOYEE BENEFIT AND...

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9th Edition College Course Materials Deanna L. Sharpe, Ph.D., CFP®, CRPC®, CRPS® Associate Professor CFP® Program Director Personal Financial Planning Department University of Missouri-Columbia Please Note : Correct answers for each question are indicated in bold type. After each question, the number of the page containing information relevant to answering the question is given. When a calculation is necessary or the reasoning behind a given answer may be unclear, a brief rationale for the correct answer is also given. Part A: Retirement Planning Other Employer Retirement Plans Chapter 23: Simplified Employee Pensions (SEPs) True/False 23.1 Currently, a SEP provides for employer contributions only. 23.2 An employer must make SEP contributions every year, regardless of company performance. 23.3 Plan loans are allowed in a SEP. Answers: 23.1 true [p. 227] 23.2 false [p. 227] 23.3 false [p. 229] Multiple Choice 23.4 Each of the following is true regarding a SEP except : a. direct employer contributions to a SEP are not subject to Social Security (FICA) or Federal unemployment (FUTA) taxes b. in a SEP, employer contributions are made directly to an employee’s IRA
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This note was uploaded on 01/30/2012 for the course INS INS 3503 taught by Professor Tammimetz during the Fall '11 term at Mississippi State.

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Chapter 23 - TOOLS & TECHNIQUES OF EMPLOYEE BENEFIT AND...

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