A Single Employee Who Is Not Covered by an Employer's

question 72

True/False

A single employee who is not covered by an employer's retirement plan may always contribute at least $5,000 of earned income to his or her IRA.

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Definitions:

Federal Law

Laws created by the national government which apply throughout the country and override state laws where conflicts occur.

Federal Court

A court established by the federal government of a country, having jurisdiction over specific constitutional and federal matters.

Involuntary Servitude

A condition where an individual is forced to work against their will due to coercion, threats, or as a punishment for a crime.

Bankruptcy Relief

Legal measures available to a debtor under bankruptcy law that can provide relief from debt, including liquidation or reorganization.