What Bonnie capped out of
Contributions are pre-taxed and withdrawals are non-taxable in this type of retirement account.
What is a Roth IRA?
This employer sponsored retirement account is for government and NFP employees.
What is 403(b)?
At this age you start to receive full retirement benefits from Social Security.
What is age 67?
This is the longstanding rule of thumb on how much of your retirement to spend in the first year.
What is the 4% Rule?
True/False:
Some retirement accounts provide tax benefits?
What is True?
This type of IRA may require you to make required minimum distributions based on your remaining life expectancy.
What is a Traditional IRA?
This act provides protection for non highly compensated plan participants.
What is the ERISA Act?
This will happen to Social Security benefits when they become insolvent.
What is reduce to 80%?
Earnings from a Roth IRA can be withdrawn federally tax-free and penalty-free provided that it's been __ years since your first contribution.
What is 5?
This is the total percentage of the penalty for making distributions before 59 ½.
What is 10%?
This is the minimum age allowed to make contributions to a Traditional IRA.
What is 18 years old?
This type of vesting option has no risk of forfeiture
What is Immediate vesting?
These people fund social security.
Who are employees and employers?
The Social Security Trust Fund is expected to be depleted in 2034, resulting in a payout of ___ % of prior benefits.
What is 80%
ERISA stands for
What is the Employment Retirement Income Security Act
The “Secure Act” removed the ___ limit for making contributions to a Traditional IRA.
What is Age?
If you were a small business with many part time employees, you would NOT want to provide this employer sponsored retirement plan:
What is an SEP?
When born on January 1st of any year, this is the year you reference for full Social Security benefits at full retirement age.
What is the previous year?
This is the age at which an individual can begin “catch-up” contributions to their 401(k).
What is 50?
This is the total catch up contribution available for both Traditional and Roth IRAs.
What is $1,000?
Assets in qualified plans are protected from all creditor judgements; except for this entity.
What is the IRS?
Every employer that has a qualified benefit plan must pay insurance premiums to this corporation:
What is the Pension Benefit Guaranty Corporation?
This is the maximum percentage of SS benefits that can be taxed, according to an individual's MAGI.
What is 85%?
This is the age at which an individual (born after July 1, 1949) must begin taking required minimum distributions for IRAs, SEPs, SIMPLE IRAs, and qualified plans.
What is 72?
These are the three things a defined benefit plan is based on.
What are pre-retirement compensations, age at retirement, and years of service?