Blog

Which of the following are considered fundamental steps in the retirement planning process?(I)assessing client retirement financial needs(II)determining how much of the need will be met(III)establishing a plan for any cash flow shortfall(IV)selling investments based on projected income needs

Distributions are not required from Roth IRAs until after the death of the IRA owner.

Joan Garvey owns Garvey Management, a property management company. Last year, Garvey Management installed a qualified defined benefit plan. A small portion of the plan is invested in real estate. Joan hired Hank Thomas, an actuary, to evaluate the plan on an annual basis. Hank’s lease in his old office space ran out, and Joan offered to let him occupy an office rent-free in one of the buildings that is in the qualified plan’s portfolio. This arrangement would be an acceptable transaction under ERISA.

Elective deferrals in a 401(k) plan can be distributed upon occurrence of all of the following, except

A “listed transaction” is:

Last year, the owner of Quinton Enterprises decided to contribute an additional $4,000 to each employee’s 401(k) account. This amount was about four times the average annual contribution made by rank-and-file employees, but about even with the average annual contribution of the highly compensated employees. The $4,000 was about double the amount that the owner had contributed to employees’ accounts the prior year. The form of employer contribution used at Quinton Enterprises is

Contribution limits for a SIMPLE IRA are the same as other qualified plans, but with less administrative cost.

Which of the following is the last step when using the seven-step planner to determine the required current monthly savings that will meet a future retirement income objective?

A flat amount formula provides a distribution based on

To reduce costs of installing a qualified retirement plan, a small business owner could purchase a prototype plan from which of the following?