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George Hooper, owner of Hooper Drilling and Excavating, is considering making a $50,000 loan to a top executive. George has asked you to explain the regulations that apply to such a loan. You tell George all of the following, except

A unit credit formula is based on the employee’s age.

Which of the following terms are used to describe funding in a combination plan?(I)whole life policy(II)side fund(III)conversion fund(IV)envelope fund

Advantages of moving expense reimbursement include all of the following, except

If a new employee would have to sell her house at a loss to be able to relocate for a new job, the best option from a tax standpoint would be

A savings plan is subject to ERISA reporting and disclosure rules.

Under a nonqualified deferred compensation plan, constructive receipt occurs in which of the following?

If a new employee would have to sell her house at a loss to be able to relocate for a new job, the best option from a tax standpoint would be

Expenses of a legal services plan are tax-deductible for the employer.

Maria Valquez is a public school teacher. Her employer provides a tax deferred annuity (TDA). She began working for this employer 4 years ago and started her TDA at that time. Over those 4 years, she has contributed $1,000, $2,500, $3,000, $3,000 to her TDA through salary reduction. Her employer matches $1 for $1 up to $100 and offers graded vesting at the rate required by law for TDA accounts. Currently, Maria’s vested interest in the plan is