Which of the following is NOT true for SIMPLE IRA plans?
A) Company matches dollar-for-dollar up to three percent of the employee's salary.
B) Employee contribution limit is $10,000.
C) Each employee should have received at least $16,000 in employee compensation for each of the past two years.
D) Participants are vested immediately.
Answer: C) Each employee should have received at least $16,000 in employee compensation for each of the past two years.
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ABC Company has cash on its balance sheet. It decides to use the cash to purchase equipment. Compared to the original situation, ABC's leverage ratio is higher.
a. true b. false
All of the following are considered to be insurers EXCEPT
A) an insurance company B) a fraternal organization C) an association D) a group of employees enrolled in an insurance plan"