Which of the following statements is true? Select one: Profit sharing plans may not offer in-service withdrawals Pension and profit sharing plans are both subject to mandatory funding requirements Profit sharing plans allow annual employer contributions up to 25 percent of the employee’s covered compensation The legal promise of a profit sharing plan is to pay a pension at retirement Clear my choice
Which of the following statements is true? Select one: Profit sharing plans may not offer in-service withdrawals Pension and profit sharing plans are both subject to mandatory funding requirements Profit sharing plans allow annual employer contributions up to 25 percent of the employee’s covered compensation The legal promise of a profit sharing plan is to pay a pension at retirement Clear my choice
Chapter19: Deferred Compensation
Section: Chapter Questions
Problem 2DQ
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Question
Which of the following statements is true?
Select one:
Profit sharing plans may not offer in-service withdrawals
Pension and profit sharing plans are both subject to mandatory funding requirements
Profit sharing plans allow annual employer contributions up to 25 percent of the employee’s covered compensation
The legal promise of a profit sharing plan is to pay a pension at retirement
Clear my choice
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