Which type of account can be used as a retirement savings account? Section 529 Plan. Health Savings Account. Flexible Spending Account. Coverdell Education Savings Account.
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Which type of account can be used as a retirement savings account?
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- Define 401(k) retirement planDefine defined contribution (DC) retirement planMulitple choice question When are liabilities recognized for the federal Social Security program? Select one: a. When benefits are paid to the recipients b. When benefits are earned by the recipients c. When benefits are due and payable at the end of a reporting period d. When the social security trust fund receives cash from employees and employers
- Discuss federal deposit insurance coverage. What is its significance?Explain and what is the calculation of the following. Tax rates (formula) HELP repayment amount Medicare LevyThe following relates to different types of registered plans: Registered Retirement Income Fund Tax-Free Savings Account Registered Education Savings Plan Registered Retirement Savings Plan What type of plan will be made by a contributor for the beneficiary of the plan to enroll in a post-secondary program Question 8 options: a) i and ii only b) iii only c) ii and iv only d) All of the above
- What type of retirement account is best?Question 2: A sets aside funds to be used for health-care expenses. Answer: A. flexible spending account В. O Payroll Deduction IRA С. O SIMPLE IRA plan D. O 403(b) planDescribe how Social Security is a “pay-as-you-go” system. How do dependency ratios help us project future contributions to and payouts from Social Security? Can Social Security continue to run as a purely pay-as-you-go system in the future? Explain.